Two-Unit Duplex with
For Sale
$289,900
22 Thompson St, Sanford, ME 04073
Separate utility systems serve each residence, with laundry hookups and paved off-street parking on site.
Property Size1,296 SF
Price / SF$223.69
Days on Market30
Property Features for 22 Thompson St
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
laundry hookups
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Century 21 North East
(207) 200-1388
Listed By:
Brian Samia Gary Samia
Source:
Aroostookrealestate
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 30 at 8:23PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This 1,296-square-foot duplex, built in 1920, contains two one-bedroom residences with comparable layouts. Each unit includes a living area, kitchen, full bathroom, and bedroom, while separate electricity, heating, and hot water systems support independent operation.
The property also includes a full basement with laundry hookups, paved off-street parking, and recently added hardscaping. Located at 22 Thompson St in Sanford, Maine, the building offers a straightforward two-unit configuration with dedicated residential spaces and practical supporting features.
The property also includes a full basement with laundry hookups, paved off-street parking, and recently added hardscaping. Located at 22 Thompson St in Sanford, Maine, the building offers a straightforward two-unit configuration with dedicated residential spaces and practical supporting features.
Key Highlights
- Two one‑bedroom units within a 1,296‑square‑foot duplex
- Separate electricity, heating, and hot water systems for each unit
- Full basement with laundry hookups
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
$21,939
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
7.57%
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%
$438,780
$438.8K
Cap Rate 7%
$313,414
$313.4K
Cap Rate 9%
$243,767
$243.8K
Market Conditions
NOI Build-Up for 1,296 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
$33.0K $25.44/SF
− Vacancy
−$1.6K −$1.26/SF
EGI
$31.3K $24.18/SF
− OpEx
−$9.4K −$7.25/SF
NOI
$21.9K $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 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%
$438,780
Cap Rate 7%
$313,414
Cap Rate 9%
$243,767
Alternative Uses
Best Use
Multifamily LT 5
$313.4K
$274.2K – $365.7K
NOI $21,939 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$286.1K
$250.4K – $333.8K
NOI $20,029 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$410.8K
$359.5K – $479.3K
NOI $28,758 @ 7.0% cap · market cap 9.92%
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
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
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 - Separate utility systems serve each residence, with laundry hookups and paved off-street parking on site.
Where is this duplex located?
The property is located at 22 Thompson St Sanford, ME.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two one‑bedroom units within a 1,296‑square‑foot duplex; Separate electricity, heating, and hot water systems for each unit; Full basement with laundry hookups
