3-Unit Residential Property with
For Sale
$475,000
24 Newell Brook Road, Durham, ME 04222
Multi-Family, Durham, ME
Property Size2,377 SF
Lot Size3.10 Acres
Price / SF$199.83
Days on Market48
Property Features for 24 Newell Brook Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RR - Agriculture
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bathroom 1, Bathroom 2
Interior features
1st Floor Bedroom, Bathtub
Lot features
Well Landscaped, Open, Level, Wooded, Rural
Standard status
Active
Size
2,377 SF
Lot size
3.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5823
Utilities
Sewer type
Private Sewer
Heating system
Wood Stove, Baseboard, Natural Gas, Oil, Wood
Cooling system
Window Unit(s)
Water source
Private
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Vinyl, Linoleum, Carpet, Hardwood, Tile
Building materials
Wood Frame, Aluminum Siding, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 289-3830
Listed By:
Maria Morrissette
(207) 749-8779
Added: Aug 26
Changed: Oct 6
Last Checked: Oct 12 at 6:06AM
MLS# 1676912
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 1900-built, three-unit property offers 2,377 square feet across a farmhouse-style residence, with three bathrooms and a basement. The 3.1-acre parcel also includes an oversized, heated two-car garage. Interior features include a first-floor bedroom and bathtub; flooring includes tile, vinyl, hardwood, linoleum, and carpet. Heating sources include wood, natural gas, and oil, with baseboard heat and a wood stove. Window units provide cooling.
The property is zoned RR - Agriculture and has private water and sewer. Freeport Village shopping and restaurants, as well as I-95, are a short drive away. Its Durham setting combines a large parcel with access to those nearby services and routes.
The property is zoned RR - Agriculture and has private water and sewer. Freeport Village shopping and restaurants, as well as I-95, are a short drive away. Its Durham setting combines a large parcel with access to those nearby services and routes.
Key Highlights
- Three residential units in a 2,377‑square‑foot property
- 3.1‑acre parcel with an oversized, heated two‑car garage
- Built in 1900; includes a basement, three bathrooms, and a first‑floor bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,444
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,880
$468.9K
Cap Rate 7%
$334,914
$334.9K
Cap Rate 9%
$260,489
$260.5K
Market Conditions
NOI Build-Up for 2,377 SF
Gross rent
$33.9K $14.28/SF
− Vacancy
−$451 −$0.19/SF
EGI
$33.5K $14.09/SF
− OpEx
−$10.0K −$4.23/SF
NOI
$23.4K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,880
Cap Rate 7%
$334,914
Cap Rate 9%
$260,489
Alternative Uses
Best Use
Multifamily LT 5
$334.9K
$293.1K – $390.7K
NOI $23,444 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$318.2K
$278.4K – $371.3K
NOI $22,275 @ 7.0% cap · market cap 4.69%
Theoretical Best
Warehouse
$4.22M
$3.69M – $4.93M
NOI $295,521 @ 7.0% cap · market cap 62.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 04222, ME
4,173
Population
1,712
Households
2.4
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
38.3 sq mi
ZIP Area
109
Density / Sq Mi
$96,492
Median Household Income
$48,346
Median Earnings
$287,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - A heated two-car garage and substantial grounds complement the property's three-unit configuration.
Where is this triplex located?
The property is located at 24 Newell Brook Road Durham, ME.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three residential units in a 2,377‑square‑foot property; 3.1‑acre parcel with an oversized, heated two‑car garage; Built in 1900; includes a basement, three bathrooms, and a first‑floor bedroom
