Cedar Log Residential Income
27 Independence Drive Windham, ME 04062
New
MULTI_FAMILY - Cape Cod - Windham, ME
Property size:
2,746 SFLot size:
4.26 AcresPrice / SF:
$325/SF- Added:
- Jul 9, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 10 at 12:06 am
Property Features for 27 Independence Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- farm
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 2, Bathroom 1, Bathroom 3
- Parking features
- Heated, Open
- Patio and Porch features
- Porch, Deck
- Pets allowed
- No
- Interior features
- 1st Floor Bedroom, Pantry, Storage
- Basement
- Walk-Out Access, Daylight, Finished, Full
- Standard status
- Active
- Size
- 2,746 SF
- Lot size
- 4.26 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8863
Utilities
- Sewer type
- Private Sewer
- Heating system
- Hot Water(Heating), Oil, Wood, Wood Stove, Electric (Heating), Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Private, Well
Building Details
- Year built
- 2003
- Number of units
- 2
- Flooring type
- Tile, Wood
- Building materials
- Log, Wood Frame, Log Siding
- Roof type
- Shingle
- Architectural style
- Cape Cod
- Additional Structures
- Storage
Listing agent Scott Richard (207) 576-6349
Listing office Coldwell Banker Team Real Estate 778 Roosevelt Trail, Windham, ME (207) 892-1600
Listing date Jul 9, 2026
MLS# 1668901
Listing URL
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.
Built in 2003, this impeccably maintained cedar log home offers nearly 2,800 square feet of living space, including 4+ bedrooms and 2.5 baths, a spacious loft with pool table, and a fully finished basement. The interior features Andersen windows, warm wood finishes, custom birch cabinetry with Corian counters, a roomy island, and ample storage. Radiant heat floors run beneath every step, and the home includes a 10’x20’ rear deck and an 8’x24’ farmer’s porch.
A legal efficiency apartment (1 bedroom, 1 bath) sits above an oversized 24’x32’ heated two-car garage. A preliminary inspection indicates the lot may possibly be subdivided. The property is set on 4.26 acres of park-like grounds and is zoned “farm.”
Recent updates include a 26KW whole-house automatic generator installed in 2022, heat pumps installed in 2020, an exterior re-stain completed in 2022, a new house roof in 2023, and driveway resealing in 2026. The current efficiency apartment tenant is scheduled to move on Aug 1st, and most furnishings are negotiable with most appliances less than 10 years old.
A legal efficiency apartment (1 bedroom, 1 bath) sits above an oversized 24’x32’ heated two-car garage. A preliminary inspection indicates the lot may possibly be subdivided. The property is set on 4.26 acres of park-like grounds and is zoned “farm.”
Recent updates include a 26KW whole-house automatic generator installed in 2022, heat pumps installed in 2020, an exterior re-stain completed in 2022, a new house roof in 2023, and driveway resealing in 2026. The current efficiency apartment tenant is scheduled to move on Aug 1st, and most furnishings are negotiable with most appliances less than 10 years old.
Key Highlights
- Built in 2003 cedar log home with nearly 2,800 SF, 4+ bedrooms, and 2.5 baths
- Radiant heat floors throughout the home plus heat pumps for heating and cooling
- 26KW whole‑house automatic generator (installed 2022) powers the home, garage, and apartment
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.1k | $27.00 |
| − Vacancy | −$4.8k | −$1.76 |
| EGI | $69.3k | $25.25 |
| − OpEx | −$20.8k | −$7.57 |
| NOI | $48.5k | $17.67 |
2,746 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$693.2K
$606.6K – $808.8K
NOI $48,526 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$644.9K
$564.3K – $752.4K
NOI $45,146 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$754.7K
$660.4K – $880.5K
NOI $52,832 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Built in 2003, this property includes a main home plus a legal efficiency apartment above a heated two-car garage.
Where is this duplex located?
The property is located at 27 Independence Drive Windham, ME.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Built in 2003 cedar log home with nearly 2,800 SF, 4+ bedrooms, and 2.5 baths; Radiant heat floors throughout the home plus heat pumps for heating and cooling; 26KW whole‑house automatic generator (installed 2022) powers the home, garage, and apartment
