Updated Duplex with Private
For Sale
$459,000
220 Kimball Road, Bridgton, ME 04009
Two vacant units support rental, owner-occupancy, or multigenerational living arrangements.
Property Size2,392 SF
Lot Size1.00 Acre
Price / SF$191.89
Days on Market90
Property Features for 220 Kimball Road
General Information
Standard status
Active
Size
2,392 SF
Lot size
1.00 Acre
Property subtype
Multi-family
Lease Term
[]
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
private driveway
deck
walk-in closet
granite countertops
basement storage
in-unit laundry
separate utilities
Building Details
Year Built
1990
Construction
Colonial-style
Listing Agency:
The Lakes Real Estate
Listed By:
Bernadette McIver
(207) 536-4222
Source:
Portsiderealestategroup
Added: Jun 3
Changed: Aug 29
Last Checked: Aug 30 at 5:30PM
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 The Lakes Real Estate
Investment Insights
Based on property information with market context.
This Colonial-style duplex at 220 Kimball Road includes 2,392 square feet on a wooded one-acre parcel. Built in 1990, the property contains two units with a combined four bedrooms and 3.5 bathrooms. Each residence has a separate driveway, private deck, walk-in closet, granite countertops, basement storage, and in-unit laundry. Heat, electricity, and trash utilities are separately arranged for each unit, while recent improvements update the property’s appearance and functionality.
Both units are currently vacant, allowing the next owner to determine the preferred occupancy plan. The property is positioned near Pleasant Mountain, Long Lake, and downtown Bridgton. North Conway is approximately 30 minutes away, and Portland is under an hour from the property.
Both units are currently vacant, allowing the next owner to determine the preferred occupancy plan. The property is positioned near Pleasant Mountain, Long Lake, and downtown Bridgton. North Conway is approximately 30 minutes away, and Portland is under an hour from the property.
Key Highlights
- 2,392‑square‑foot duplex on a wooded one‑acre lot
- Two vacant units with 4 bedrooms and 3.5 bathrooms combined
- Each unit includes a private driveway and deck
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
$39,326
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
8.57%
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%
$786,520
$786.5K
Cap Rate 7%
$561,800
$561.8K
Cap Rate 9%
$436,956
$437.0K
Market Conditions
NOI Build-Up for 2,392 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
$76.1K $31.80/SF
− Vacancy
−$4.6K −$1.91/SF
EGI
$71.5K $29.89/SF
− OpEx
−$32.2K −$13.45/SF
NOI
$39.3K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$786,520
Cap Rate 7%
$561,800
Cap Rate 9%
$436,956
Alternative Uses
Best Use
Multifamily LT 5
$603.9K
$528.4K – $704.5K
NOI $42,270 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$561.8K
$491.6K – $655.4K
NOI $39,326 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$657.4K
$575.3K – $767.0K
NOI $46,021 @ 7.0% cap · market cap 10.03%
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
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 04009, ME
5,298
Population
4,580
Households
1.2
Avg Household Size
51
Median Age
32%
College-Educated
93%
High-School Grad
56.5 sq mi
ZIP Area
94
Density / Sq Mi
$86,386
Median Household Income
$48,737
Median Earnings
$1,196
Median Rent
$286,600
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 vacant units support rental, owner-occupancy, or multigenerational living arrangements.
Where is this duplex located?
The property is located at 220 Kimball Road Bridgton, ME.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 2,392‑square‑foot duplex on a wooded one‑acre lot; Two vacant units with 4 bedrooms and 3.5 bathrooms combined; Each unit includes a private driveway and deck
