Riverfront Duplex with
New
For Sale
$475,000
211 State Park Road, Casco, ME 04015
Two residential units provide separate living areas and kitchens with shared basement space.
Property Size1,456 SF
Lot Size1.17 Acres
Price / SF$326.24
Days on Market5
Property Features for 211 State Park Road
General Information
Standard status
Active
Size
1,456 SF
Lot size
1.17 Acres
Property subtype
Multi-family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
water frontage
dock
full basement
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Realty of Maine
Listed By:
Debbi Webber
(603) 433-3350
Source:
Greatislandrealty
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 10:36AM
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 Realty of Maine
Investment Insights
Based on property information with market context.
This 1,456-square-foot duplex, built in 1965, includes two residential units on 1.17 acres. The first unit has one bedroom, one full bath, a living room, and a kitchen. The second offers two bedrooms, one full bath, a living room, and a kitchen. Both units share a full basement, while heat and hot water are included in the rent. Hot water for both apartments is supplied through the furnace.
The property includes 140 feet of owned frontage on the Crooked River, with direct access via an established path suitable for walking or driving. A dock provides access for paddling and boating, with routes toward Sebago Lake and through Songo Lock to Brandy Pond and Long Lake. Sebago Lake State Park is approximately a 5-minute drive away. The property is located at 211 State Park Rd in Casco, Maine.
The property includes 140 feet of owned frontage on the Crooked River, with direct access via an established path suitable for walking or driving. A dock provides access for paddling and boating, with routes toward Sebago Lake and through Songo Lock to Brandy Pond and Long Lake. Sebago Lake State Park is approximately a 5-minute drive away. The property is located at 211 State Park Rd in Casco, Maine.
Key Highlights
- Two‑unit duplex on 1.17 acres with 1,456 SF of building area
- 140 feet of owned water frontage on the Crooked River
- Unit 1 includes 1 bedroom, 1 full bath, living room, and kitchen
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
$25,730
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
5.42%
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%
$514,600
$514.6K
Cap Rate 7%
$367,571
$367.6K
Cap Rate 9%
$285,889
$285.9K
Market Conditions
NOI Build-Up for 1,456 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
$39.3K $27.00/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$36.8K $25.25/SF
− OpEx
−$11.0K −$7.57/SF
NOI
$25.7K $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%
$514,600
Cap Rate 7%
$367,571
Cap Rate 9%
$285,889
Alternative Uses
Best Use
Multifamily LT 5
$367.6K
$321.6K – $428.8K
NOI $25,730 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$342.0K
$299.2K – $399.0K
NOI $23,938 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$400.2K
$350.2K – $466.9K
NOI $28,013 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
11
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide separate living areas and kitchens with shared basement space.
Where is this duplex located?
The property is located at 211 State Park Road Casco, ME.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex on 1.17 acres with 1,456 SF of building area; 140 feet of owned water frontage on the Crooked River; Unit 1 includes 1 bedroom, 1 full bath, living room, and kitchen
