Updated Two-Unit
New
For Sale
$595,000
154 Seaward Mills Rd, Vassalboro, ME 04989
Two residential units feature individual septic systems, a garage, paved driveway, and recent interior improvements.
Property Size4,000 SF
Price / SF$148.75
Days on Market7
Property Features for 154 Seaward Mills Rd
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Building Details
Year Built
2002
Listing Agency:
Keller Williams Realty
(207) 873-9013
Listed By:
Francois Rodrigue
Source:
603luxury
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 3:29PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This two-unit duplex, built in 2002, includes recent property improvements such as a new family room, fresh paint in several interior areas, and newly installed heat pumps. Each unit is served by its own septic system and leach field. A paved driveway and garage add on-site parking and storage functionality.
Set in a rural Vassalboro setting, the property offers access to both Waterville and Augusta for commuting. The two-unit configuration may support residential income use or flexible occupancy, including additional living space for guests.
Set in a rural Vassalboro setting, the property offers access to both Waterville and Augusta for commuting. The two-unit configuration may support residential income use or flexible occupancy, including additional living space for guests.
Key Highlights
- Two‑unit duplex built in 2002
- New family room added
- Fresh interior paint in several areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,671
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$893,420
$893.4K
Cap Rate 7%
$638,157
$638.2K
Cap Rate 9%
$496,344
$496.3K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.8K $16.20/SF
− Vacancy
−$985 −$0.25/SF
EGI
$63.8K $15.95/SF
− OpEx
−$19.1K −$4.79/SF
NOI
$44.7K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$893,420
Cap Rate 7%
$638,157
Cap Rate 9%
$496,344
Alternative Uses
Best Use
Multifamily LT 5
$638.2K
$558.4K – $744.5K
NOI $44,671 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$556.7K
$487.1K – $649.4K
NOI $38,966 @ 7.0% cap · market cap 6.55%
Theoretical Best
Warehouse
$5.97M
$5.22M – $6.96M
NOI $417,733 @ 7.0% cap · market cap 70.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 04989, ME
4,520
Population
2,296
Households
2
Avg Household Size
45
Median Age
31%
College-Educated
94%
High-School Grad
44.3 sq mi
ZIP Area
102
Density / Sq Mi
$74,828
Median Household Income
$47,512
Median Earnings
$1,030
Median Rent
$217,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature individual septic systems, a garage, paved driveway, and recent interior improvements.
Where is this duplex located?
The property is located at 154 Seaward Mills Rd Vassalboro, ME.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2002; New family room added; Fresh interior paint in several areas
