Duplex with In-Law
For Sale
$375,000
18 Cooks Mills Road, Casco, ME 04015
Multi-Family, Casco, ME
Property Size1,946 SF
Lot Size1.05 Acres
Price / SF$192.70
Days on Market67
Property Features for 18 Cooks Mills Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
village district
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Parking features
Off Street
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
In-Law Apartment, 1st Floor Bedroom, Bathtub, Shower
Basement
Unfinished, Full
Lot features
Open, Level, Near Public Beach, Near Town, Neighborhood
Standard status
Active
Size
1,946 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3162
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Well, Private
Water front features
Lake
Water front
1
Building Details
Year built
1935
Number of units
2
Flooring type
Laminate, Wood, Hardwood
Building materials
Wood Frame, Vinyl Siding
Roof type
Fiberglass, Shingle, Composition
Architectural style
Other
Additional Structures
Outbuilding
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Vickie Shane
(207) 590-3403
Added: Jul 13
Changed: Sep 14
Last Checked: Sep 17 at 5:06PM
MLS# 1667862
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,946-square-foot duplex was built in 1935 on 1.05 acres and includes an in-law apartment, first-floor bedroom, two bathrooms, basement space, and a mix of hardwood, wood, and laminate flooring. Wood-frame construction, vinyl siding, a composition shingle roof, electric baseboard heat, and a private well and septic system serve the property. Outdoor features include a deck, porch, and off-street parking.
The property is located near Sebago Lake, with boating, swimming, hiking trails, and other local recreation nearby. Portland and surrounding amenities are accessible from the Casco location. The property is designated within a village district and includes a lake waterfront feature.
The property is located near Sebago Lake, with boating, swimming, hiking trails, and other local recreation nearby. Portland and surrounding amenities are accessible from the Casco location. The property is designated within a village district and includes a lake waterfront feature.
Key Highlights
- 1,946 SF duplex on 1.05 acres
- In‑law apartment and first‑floor bedroom
- Built in 1935 with wood‑frame construction and vinyl siding
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
$34,389
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
9.17%
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%
$687,780
$687.8K
Cap Rate 7%
$491,271
$491.3K
Cap Rate 9%
$382,100
$382.1K
Market Conditions
NOI Build-Up for 1,946 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
$52.5K $27.00/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$49.1K $25.25/SF
− OpEx
−$14.7K −$7.57/SF
NOI
$34.4K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$687,780
Cap Rate 7%
$491,271
Cap Rate 9%
$382,100
Alternative Uses
Best Use
Multifamily LT 5
$491.3K
$429.9K – $573.2K
NOI $34,389 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$457.0K
$399.9K – $533.2K
NOI $31,993 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 04015, ME
3,646
Population
2,982
Households
1.2
Avg Household Size
48
Median Age
32%
College-Educated
91%
High-School Grad
31.3 sq mi
ZIP Area
116
Density / Sq Mi
$64,229
Median Household Income
$43,870
Median Earnings
$1,214
Median Rent
$285,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The property includes an in-law apartment, first-floor bedroom, deck, porch, and off-street parking.
Where is this duplex located?
The property is located at 18 Cooks Mills Road Casco, ME.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,946 SF duplex on 1.05 acres; In‑law apartment and first‑floor bedroom; Built in 1935 with wood‑frame construction and vinyl siding
