Renovated Two-Unit
New
For Sale
$829,000
237 Pine Point Rd, Scarborough, ME 04074
Two residences offer spacious three-bedroom, two-bath layouts with updated kitchens, baths, flooring, windows, insulation, and furnaces.
Property Size3,045 SF
Price / SF$272.25
Days on Market2
Property Features for 237 Pine Point Rd
General Information
Standard status
Active
Size
3,045 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1840
Year Renovated
2015
Listed By:
Doug Schauf · License #BA917314
(207) 838-5593
Source:
Makemaineyourhome
Added: Sep 2
Last Checked: Sep 2 at 1:59PM
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 Doug Schauf
Investment Insights
Based on property information with market context.
This 3,045-square-foot duplex contains two three-bedroom, two-bath residences with generously sized bedrooms and comfortable living areas. A comprehensive renovation completed in 2014/2015 updated the kitchens with granite countertops and stainless steel appliances, added tiled-shower baths and hardwood flooring, and included two new furnaces, Andersen windows, closed-cell insulation, and a new roof.
The property also includes an existing barn that may support an accessory dwelling unit or another future use, subject to town approvals. Its Scarborough setting places the property minutes from Pine Point Beach and the Eastern Trail, with walkable and bikeable access to the surrounding coastal area. The building is currently tenant-occupied.
The property also includes an existing barn that may support an accessory dwelling unit or another future use, subject to town approvals. Its Scarborough setting places the property minutes from Pine Point Beach and the Eastern Trail, with walkable and bikeable access to the surrounding coastal area. The building is currently tenant-occupied.
Key Highlights
- Two‑unit duplex with 3,045 SF of building area
- Each residence has 3 bedrooms and 2 bathrooms
- Renovated in 2014/2015 with updated kitchens, baths, flooring, windows, insulation, furnaces, and roof
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
$53,810
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
6.49%
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%
$1,076,200
$1.1M
Cap Rate 7%
$768,714
$768.7K
Cap Rate 9%
$597,889
$597.9K
Market Conditions
NOI Build-Up for 3,045 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
$82.2K $27.00/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$76.9K $25.25/SF
− OpEx
−$23.1K −$7.57/SF
NOI
$53.8K $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 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%
$1,076,200
Cap Rate 7%
$768,714
Cap Rate 9%
$597,889
Alternative Uses
Best Use
Multifamily LT 5
$768.7K
$672.6K – $896.8K
NOI $53,810 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$715.2K
$625.8K – $834.4K
NOI $50,062 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$836.9K
$732.3K – $976.4K
NOI $58,584 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 04074, ME
21,952
Population
10,561
Households
2.1
Avg Household Size
46
Median Age
58%
College-Educated
99%
High-School Grad
47.6 sq mi
ZIP Area
461
Density / Sq Mi
$125,642
Median Household Income
$55,955
Median Earnings
$1,821
Median Rent
$502,700
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 residences offer spacious three-bedroom, two-bath layouts with updated kitchens, baths, flooring, windows, insulation, and furnaces.
Where is this duplex located?
The property is located at 237 Pine Point Rd Scarborough, ME.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,045 SF of building area; Each residence has 3 bedrooms and 2 bathrooms; Renovated in 2014/2015 with updated kitchens, baths, flooring, windows, insulation, furnaces, and roof
