Duplex with Private
15 Cedar Road, Eliot, ME 03903
For Sale
$725,000
Two residences offer distinct layouts, including a four-bedroom, two-bath home and a separate two-bedroom, one-bath unit.
Property Size3,246 SF
Price / SF$223.35
Days on Market96
Property Features for 15 Cedar Road
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
private fenced back yard
deck
patio
private entrance
parking
private office
1st Floor Bedroom
1st Floor Primary Bedroom w/Bath
Bathtub
Shower
Storage
Primary Bedroom w/Bath
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Applevale Realty Inc.
(603) 300-2631
Listed By:
Sean Regan
(603) 944-7471
Source:
Amerorealty
Added: Aug 6
Changed: Nov 7
Last Checked: Nov 8 at 12:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Applevale Realty Inc.
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Investment Insights
Based on property information with market context.
This 3,246-square-foot duplex, built in 1974, contains a four-bedroom, two-bath residence and a separate two-bedroom, one-bath unit with its own entrance and parking. The larger residence has a fenced backyard with a recently added deck and patio. An oversized garage has been adapted to include additional living space and a private office, with room remaining for vehicle storage. Updates include a new roof, new flooring and paint, and refreshed heating and cooling equipment throughout.
The property is in Eliot, Maine, and is zoned SD. The two residences have separate access, and the second unit is described as an up-and-down layout.
The property is in Eliot, Maine, and is zoned SD. The two residences have separate access, and the second unit is described as an up-and-down layout.
Key Highlights
- 3,246‑square‑foot duplex built in 1974
- Four‑bedroom, two‑bath residence plus a separate two‑bedroom, one‑bath unit
- Second unit has a private entrance and parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,949
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,980
$1.1M
Cap Rate 7%
$784,986
$785.0K
Cap Rate 9%
$610,544
$610.5K
Market Conditions
NOI Build-Up for 3,246 SF
Gross rent
$82.6K $25.44/SF
− Vacancy
−$4.1K −$1.26/SF
EGI
$78.5K $24.18/SF
− OpEx
−$23.5K −$7.25/SF
NOI
$54.9K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,980
Cap Rate 7%
$784,986
Cap Rate 9%
$610,544
Alternative Uses
Best Use
Multifamily LT 5
$785.0K
$686.9K – $915.8K
NOI $54,949 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$716.6K
$627.1K – $836.1K
NOI $50,165 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.03M
$900.4K – $1.20M
NOI $72,028 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
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Business Placement
Demographics for 03903, ME
6,717
Population
3,092
Households
2.2
Avg Household Size
48
Median Age
41%
College-Educated
100%
High-School Grad
19.8 sq mi
ZIP Area
339
Density / Sq Mi
$100,472
Median Household Income
$44,375
Median Earnings
$1,837
Median Rent
$465,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in York County, ME
Properties on Market for Duplexes in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer distinct layouts, including a four-bedroom, two-bath home and a separate two-bedroom, one-bath unit.
Where is this duplex located?
The property is located at 15 Cedar Road Eliot, ME.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,246‑square‑foot duplex built in 1974; Four‑bedroom, two‑bath residence plus a separate two‑bedroom, one‑bath unit; Second unit has a private entrance and parking
