Updated Colonial
For Sale
$459,000
220 Kimball Road, Bridgton, ME 04009
Multi-Family, Bridgton, ME
Property Size2,392 SF
Lot Size1.00 Acre
Price / SF$191.89
Days on Market49
Property Features for 220 Kimball Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Parking features
Underground/Basement
Patio and Porch features
Deck
Pets allowed
No
Interior features
Walk-in Closets, Bathtub
Basement
Full, Unfinished, Finished, Walk-Out Access
Lot features
Well Landscaped, Open, Level, Wooded, Near Golf Course, Near Public Beach, Ski Resort
Standard status
Active
Size
2,392 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3920
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Baseboard, Propane (Heating)
Water source
Private, Well
Water front features
Lake
Water front
1
Amenities
deck
walk-in closet
granite countertops
basement storage
in-unit laundry
separate utilities
Building Details
Year built
1990
Floors in Building
3
Number of units
2
Flooring type
Tile, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
The Lakes Real Estate
(207) 647-5371
Listed By:
Bernadette McIver
(207) 653-5366
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 26 at 10:06PM
MLS# 1670994
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 updated Colonial-style duplex at 220 Kimball Road contains 2,392 square feet on a wooded 1-acre lot. The property includes two units with a combined four bedrooms and 3.5 bathrooms. Each unit has a private driveway, deck, walk-in closet, granite countertops, basement storage, and in-unit laundry. Separate utilities serve heat, electricity, and trash, while the 1990 construction features wood-frame construction, vinyl siding, shingle roofing, and private well and septic systems.
Both units are vacant, allowing for rental income, owner occupancy, or a multi-generational arrangement. The property is in North Bridgton, with Pleasant Mountain, Long Lake, and downtown Bridgton located minutes away. North Conway is approximately 30 minutes away, and Portland is under an hour.
Both units are vacant, allowing for rental income, owner occupancy, or a multi-generational arrangement. The property is in North Bridgton, with Pleasant Mountain, Long Lake, and downtown Bridgton located minutes away. North Conway is approximately 30 minutes away, and Portland is under an hour.
Key Highlights
- 2,392‑square‑foot duplex on a wooded 1‑acre lot
- Two vacant units with a combined 4 bedrooms and 3.5 bathrooms
- Separate utilities for heat, electricity, and trash
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
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-unit property with separate utilities, private decks, and in-unit laundry.
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 1‑acre lot; Two vacant units with a combined 4 bedrooms and 3.5 bathrooms; Separate utilities for heat, electricity, and trash
