Building Details

Year Built 1820

Listing Agency: Better Homes & Gardens Real Estate/The Masiello Group

Listed By: John Caramihalis Show Phone

Source: Profoundrealestate

Added: Oct 24 Changed: Oct 31 Last Checked: Oct 31 at 2:59AM

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Investment Insights

Based on property information with market context.

This 2,337-square-foot duplex contains two units and was built in 1820. Recent upgrades are noted, though specific improvements are not detailed. The two-unit configuration supports owner occupancy alongside rental use or accommodation for extended family.

Set in Alfred Village, the property includes an in-town backyard with space for outdoor activities. Major travel routes are accessible from the property.

Key Highlights

• Two‑unit residential property
• 2,337 square feet
• Built in 1820

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,561

Cap Rate

7.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$791,220 $791.2K

Cap Rate 7%

$565,157 $565.2K

Cap Rate 9%

$439,567 $439.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,337 SF

Gross rent

$59.5K $25.44/SF

− Vacancy

−$2.9K −$1.26/SF

EGI

$56.5K $24.18/SF

− OpEx

−$17.0K −$7.25/SF

NOI

$39.6K $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%

$791,220

Cap Rate 7%

$565,157

Cap Rate 9%

$439,567

Alternative Uses

Best Use

Multifamily LT 5

$565.2K

$494.5K – $659.4K (±1% cap)

NOI $39,561 @ 7.0% cap · market cap 7.19%

Second Best

Apartment 5plus

$516.0K

$451.5K – $602.0K (±1% cap)

NOI $36,117 @ 7.0% cap · market cap 6.57%

Theoretical Best

Office A

$740.8K

$648.2K – $864.3K (±1% cap)

NOI $51,857 @ 7.0% cap · market cap 9.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

67

Businesses Nearby

Explore this area Business Placement

Demographics for 04002, ME

7,589

Population

3,684

Households

2.1

Avg Household Size

48

Median Age

23%

College-Educated

93%

High-School Grad

66.3 sq mi

ZIP Area

114

Density / Sq Mi

$77,853

Median Household Income

$40,201

Median Earnings

$784

Median Rent

$321,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - An in-town property with two separate units offers flexible residential and rental use.

Where is this duplex located?

The property is located at 15 Waterboro Road Alfred, ME.

What is the asking price?

The asking price for this property is $549,900.

What are key features of this property?

This property features: Two‑unit residential property; 2,337 square feet; Built in 1820