Two-Unit Duplex with River
New
For Sale
$475,000
211 State Park Road, Casco, ME 04015
Multi-Family, Casco, ME
Property Size1,456 SF
Lot Size1.17 Acres
Price / SF$326.24
Days on Market2
Property Features for 211 State Park Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Residential
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Pets allowed
No
Interior features
1st Floor Bedroom, Bathtub, Storage
Basement
Walk-Out Access, Full
Lot features
Level, Wooded, Near Public Beach, Neighborhood
Standard status
Active
Size
1,456 SF
Lot size
1.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2325
Utilities
Sewer type
Septic Tank, Private Sewer, Shared Septic
Heating system
Zoned, Oil, Hot Water(Heating), Baseboard
Water source
Well, Private
Water front features
Stream
Water front
1
Amenities
dock
fire pit
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Debbi Webber
(207) 329-0210
Added: Sep 5
Last Checked: Sep 6 at 4:06AM
MLS# 1679486
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 1,456-square-foot ranch duplex, built in 1965, contains two residential units on 1.17 acres. The first unit has one bedroom, one full bathroom, a living room, and a kitchen. The second includes two bedrooms, one full bathroom, a living room, and a kitchen. A full basement is shared, and each unit has its own electric service. Heating and hot water are provided through the furnace system, with zoned oil-fired baseboard heat.
The property includes owned frontage on the Crooked River, reached by a path from the house. A dock and fire pit are located along the waterfront. The property is at 211 State Park Road in Casco, with Sebago Lake State Park approximately 5 minutes away by car. Private well and septic systems serve the property.
The property includes owned frontage on the Crooked River, reached by a path from the house. A dock and fire pit are located along the waterfront. The property is at 211 State Park Road in Casco, with Sebago Lake State Park approximately 5 minutes away by car. Private well and septic systems serve the property.
Key Highlights
- Two‑unit duplex with 1,456 square feet of building area
- 1.17 acres with owned frontage on the Crooked River
- Unit mix includes one 1‑bedroom unit and one 2‑bedroom unit
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
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style property offers separate electric service, shared basement storage, and access to a private dock.
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 with 1,456 square feet of building area; 1.17 acres with owned frontage on the Crooked River; Unit mix includes one 1‑bedroom unit and one 2‑bedroom unit
