Two-Unit Duplex with Radiant
22 Weymouth Road, Gray, ME 04039
For Sale
$575,000
Mirror-image residences feature in-slab radiant heating, underground utilities, and a wooded setting with a grassy rear yard.
Property Size2,208 SF
Price / SF$260.42
Days on Market704
Property Features for 22 Weymouth Road
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Utilities to Site
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
OwnerEntry.com
Listed By:
David White · License ME #10371201849
(617) 542-9300
Source:
Integrityhomesrealestategroup
Added: Dec 10, 2024
Changed: Nov 11
Last Checked: Nov 13 at 6:39PM
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 OwnerEntry.com
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Investment Insights
Based on property information with market context.
Built in 2007, this two-unit duplex contains 2,208 square feet, with matching mirror-image layouts. In-slab radiant heat serves both floors in each residence, with two heating zones per unit. The property also has underground utilities and a septic aerator system. The wooded lot includes a grassy backyard, and the building is set back from Weymouth Road.
The property is close to the Turnpike and grocery stores, with commuting access to Portland, Lewiston, and coastal towns.
The property is close to the Turnpike and grocery stores, with commuting access to Portland, Lewiston, and coastal towns.
Key Highlights
- Two‑unit duplex with matching mirror‑image layouts
- 2,208 square feet; built in 2007
- In‑slab radiant heat on both floors, with two zones per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,019
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,380
$780.4K
Cap Rate 7%
$557,414
$557.4K
Cap Rate 9%
$433,544
$433.5K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$59.6K $27.00/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$55.7K $25.25/SF
− OpEx
−$16.7K −$7.57/SF
NOI
$39.0K $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 Rate 5%
$780,380
Cap Rate 7%
$557,414
Cap Rate 9%
$433,544
Alternative Uses
Best Use
Multifamily LT 5
$557.4K
$487.7K – $650.3K
NOI $39,019 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$518.6K
$453.8K – $605.0K
NOI $36,301 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$606.9K
$531.0K – $708.0K
NOI $42,481 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
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Business Placement
Demographics for 04039, ME
7,922
Population
4,265
Households
1.9
Avg Household Size
43
Median Age
46%
College-Educated
97%
High-School Grad
40.9 sq mi
ZIP Area
194
Density / Sq Mi
$94,284
Median Household Income
$55,646
Median Earnings
$1,321
Median Rent
$333,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Mirror-image residences feature in-slab radiant heating, underground utilities, and a wooded setting with a grassy rear yard.
Where is this duplex located?
The property is located at 22 Weymouth Road Gray, ME.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex with matching mirror‑image layouts; 2,208 square feet; built in 2007; In‑slab radiant heat on both floors, with two zones per unit
