Renovated Duplex with
New
For Sale
$829,000
237 Pine Point Road, Scarborough, ME 04074
Multi-Family, Scarborough, ME
Property Size3,045 SF
Lot Size0.81 Acres
Price / SF$272.25
Days on Market2
Property Features for 237 Pine Point Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4A
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Basement
Patio and Porch features
Deck
Interior features
1st Floor Bedroom
Basement
Dirt Floor, Full
Lot features
Level, Near Public Beach, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
3,045 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6829
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Zoned, Propane (Heating), Baseboard, Forced Air
Water source
Public
Building Details
Year built
1840
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Cape Cod
Listing Agency:
Keller Williams Realty
(207) 553-2605
Listed By:
William Van Wickler
(207) 232-8877
Added: Sep 1
Last Checked: Sep 2 at 8:06AM
MLS# 1678746
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 Cape Cod-style duplex contains 3,045 square feet on a 0.81-acre parcel. Built in 1840, the property was renovated in 2014/2015 with redesigned kitchens featuring granite countertops and stainless steel appliances, hardwood flooring, tiled-shower bathrooms, two new furnaces, Andersen windows, closed-cell insulation, and a new shingle roof. Each residence has three bedrooms and two bathrooms, with tile, wood, and carpet flooring, zoned heating, and a deck. The property is currently tenant-occupied.
An existing barn is located behind the main building and may offer future ADU or other use potential, subject to town approvals. The property has public water and public sewer and is situated on Pine Point Road in Scarborough, near Pine Point Beach and the Eastern Trail. The setting supports walkable and bikeable access to those coastal-area destinations.
An existing barn is located behind the main building and may offer future ADU or other use potential, subject to town approvals. The property has public water and public sewer and is situated on Pine Point Road in Scarborough, near Pine Point Beach and the Eastern Trail. The setting supports walkable and bikeable access to those coastal-area destinations.
Key Highlights
- 3,045‑square‑foot duplex on 0.81 acres
- Two units, each with 3 bedrooms and 2 bathrooms
- Renovated in 2014/2015 with updated kitchens, baths, 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 three-bedroom units offer updated interiors, public water, and public sewer.
Where is this duplex located?
The property is located at 237 Pine Point Road 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: 3,045‑square‑foot duplex on 0.81 acres; Two units, each with 3 bedrooms and 2 bathrooms; Renovated in 2014/2015 with updated kitchens, baths, windows, insulation, furnaces, and roof
