Duplex with Private
New
For Sale
$429,000
220 Kimball Rd, Bridgton, ME 04009
Two vacant apartments include in-unit laundry and separate utility responsibilities.
Property Size2,392 SF
Price / SF$179.35
Days on Market3
Property Features for 220 Kimball Rd
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
private entrance
washer and dryer
Building Details
Year Built
1990
Listed By:
Signature Homes Real Estate Group
(207) 885-0500
Source:
Signaturehomesmaine
Added: Sep 24
Last Checked: Sep 26 at 7:22AM
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 Signature Homes Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1990, this 2,392-square-foot duplex contains two apartments, each with two bedrooms, a private entrance, and a washer and dryer. One unit has 1.5 bathrooms; the other has one bathroom. Both apartments are vacant. The property sits on a private lot along a public road in Bridgton, Maine, and includes parking with no association fees.
Tenants are responsible for heat, electricity, trash removal, and shoveling. The landlord handles driveway plowing.
Tenants are responsible for heat, electricity, trash removal, and shoveling. The landlord handles driveway plowing.
Key Highlights
- Two apartments, each with two bedrooms and a private entrance
- Unit 1 has 2 bedrooms and 1.5 bathrooms; Unit 2 has 2 bedrooms and 1 bathroom
- 2,392‑square‑foot duplex built in 1990
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
9.17%
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 9.85%
Second Best
Apartment 5plus
$561.8K
$491.6K – $655.4K
NOI $39,326 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$657.4K
$575.3K – $767.0K
NOI $46,021 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant apartments include in-unit laundry and separate utility responsibilities.
Where is this duplex located?
The property is located at 220 Kimball Rd Bridgton, ME.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms and a private entrance; Unit 1 has 2 bedrooms and 1.5 bathrooms; Unit 2 has 2 bedrooms and 1 bathroom; 2,392‑square‑foot duplex built in 1990
