Updated Duplex with Accessory
New
For Sale
$1,200,000
261 Clay Hill Road, York, ME 03902
Multi-Family, York, ME
Property Size4,572 SF
Lot Size1.74 Acres
Price / SF$262.47
Days on Market3
Property Features for 261 Clay Hill Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res-2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Patio and Porch features
Patio, Deck
Interior features
Other Amenities, Walk-in Closets, In-Law Apartment, 1st Floor Bedroom, Attic, Bathtub, Pantry, Shower, Primary Bedroom w/Bath
Fencing
Fenced
Basement
Crawl Space
Lot features
Near Country Club, Well Landscaped, Rolling/ Sloping, Wooded, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/ Interstate, Near Town, Rural, Suburban
Standard status
Active
Size
4,572 SF
Lot size
1.74 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6188
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Zoned, Oil, Space Heater, Baseboard, Hot Water(Heating), Natural Gas, Wood, Electric (Heating), Propane (Heating)
Cooling system
Window Unit(s), Wall Unit(s)
Water source
Private, Well
Water front
1
Amenities
automatic standby generator
Building Details
Year built
1975
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile - Ceramic, Hardwood, Linoleum, Wood, Vinyl, Softwood, Tile
Building materials
Wood Frame, Shingle Siding, Wood Siding
Roof type
Shingle
Architectural style
Colonial, Cape Cod, Contemporary
Additional Structures
Other
Listing Agency:
RE/MAX Realty One · RE/MAX International
(207) 363-2497
Listed By:
Kenneth Knowles
(207) 451-0386
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 12 at 10:06AM
MLS# 1679963
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 4,572-square-foot duplex property on 1.74 acres includes a two-family home and an accessory dwelling unit positioned above the garage. The interior has two kitchens with quartz countertops, updated bathrooms, fresh paint, and a blend of hardwood, softwood, tile, vinyl, linoleum, and carpet flooring. Deck and patio areas extend the usable space, while a fenced portion of the property adds separation outdoors.
Built in 1975, the property has Res-2 zoning, a private well, septic tank, shingle roofing, and an automatic standby generator. Interior features include walk-in closets, an in-law apartment, a first-floor bedroom, pantry, attic, and a primary bedroom with bath. The York location is described as minutes from Ogunquit beaches, the Ogunquit Playhouse, and Nubble Lighthouse.
Built in 1975, the property has Res-2 zoning, a private well, septic tank, shingle roofing, and an automatic standby generator. Interior features include walk-in closets, an in-law apartment, a first-floor bedroom, pantry, attic, and a primary bedroom with bath. The York location is described as minutes from Ogunquit beaches, the Ogunquit Playhouse, and Nubble Lighthouse.
Key Highlights
- 4,572‑square‑foot property on 1.74 acres
- Two‑family home with accessory dwelling unit above the garage
- Two kitchens with quartz countertops
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
$77,396
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
6.45%
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%
$1,547,920
$1.5M
Cap Rate 7%
$1,105,657
$1.1M
Cap Rate 9%
$859,956
$860.0K
Market Conditions
NOI Build-Up for 4,572 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
$116.3K $25.44/SF
− Vacancy
−$5.7K −$1.26/SF
EGI
$110.6K $24.18/SF
− OpEx
−$33.2K −$7.25/SF
NOI
$77.4K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$1,547,920
Cap Rate 7%
$1,105,657
Cap Rate 9%
$859,956
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$967.5K – $1.29M
NOI $77,396 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$1.01M
$883.2K – $1.18M
NOI $70,657 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,451 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
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Business Placement
Demographics for 03902, ME
2,362
Population
1,399
Households
1.7
Avg Household Size
53
Median Age
51%
College-Educated
98%
High-School Grad
19.1 sq mi
ZIP Area
124
Density / Sq Mi
$131,538
Median Household Income
$66,722
Median Earnings
$1,883
Median Rent
$527,400
Median Home Value
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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?
Duplex - Two kitchens, refreshed baths, and a separate living area above the garage support flexible residential occupancy.
Where is this duplex located?
The property is located at 261 Clay Hill Road York, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,572‑square‑foot property on 1.74 acres; Two‑family home with accessory dwelling unit above the garage; Two kitchens with quartz countertops
