Triplex With Period
New
For Sale
$324,900
28 Baker Street, Clinton, ME 04927
Multi-Family, Clinton, ME
Property Size2,638 SF
Lot Size0.77 Acres
Price / SF$123.16
Days on Market2
Property Features for 28 Baker Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bathroom 1, Bathroom 3
Patio and Porch features
Porch
Basement
Crawl Space, Unfinished
Lot features
Well Landscaped, Open, Corner Lot, Level, Intown, Near Turnpike/ Interstate, Neighborhood
Standard status
Active
Size
2,638 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2855
Utilities
Sewer type
Public Sewer
Heating system
Oil, Baseboard
Water source
Public
Building Details
Year built
1908
Number of units
3
Flooring type
Hardwood, Carpet, Laminate, Tile - Ceramic, Wood
Building materials
Wood Frame, Aluminum Siding, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Rizzo Mattson
(207) 622-9000
Listed By:
Richard Garl Jennifer Waddell
(207) 557-5455
Added: Sep 21
Last Checked: Sep 22 at 5:06PM
MLS# 1675928
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 2,638-square-foot triplex, built in 1908, combines a three-bedroom main residence with two separate one-bedroom apartments. The property includes two driveways, a porch, a spacious yard, and interiors featuring hardwood flooring, tin ceilings, and a custom kitchen. Public water and public sewer serve the building, which has a shingle roof and wood-frame construction with aluminum and vinyl siding.
Updates include new windows in the main unit, multiple replacement windows in the apartment units, and an oil-fired baseboard heating system installed in 2017. The property sits on 0.77 acres in Clinton and is located 1 mile from the turnpike, 13 minutes from Colby, and 30 minutes from Augusta.
Updates include new windows in the main unit, multiple replacement windows in the apartment units, and an oil-fired baseboard heating system installed in 2017. The property sits on 0.77 acres in Clinton and is located 1 mile from the turnpike, 13 minutes from Colby, and 30 minutes from Augusta.
Key Highlights
- Three‑unit layout with one three‑bedroom residence and two one‑bedroom apartments
- 2,638 square feet on a 0.77‑acre lot
- Built in 1908 with hardwood floors, tin ceilings, and a custom kitchen
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
$29,460
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
9.07%
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%
$589,200
$589.2K
Cap Rate 7%
$420,857
$420.9K
Cap Rate 9%
$327,333
$327.3K
Market Conditions
NOI Build-Up for 2,638 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
$42.7K $16.20/SF
− Vacancy
−$650 −$0.25/SF
EGI
$42.1K $15.95/SF
− OpEx
−$12.6K −$4.79/SF
NOI
$29.5K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$589,200
Cap Rate 7%
$420,857
Cap Rate 9%
$327,333
Alternative Uses
Best Use
Multifamily LT 5
$420.9K
$368.3K – $491.0K
NOI $29,460 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$367.1K
$321.2K – $428.3K
NOI $25,698 @ 7.0% cap · market cap 7.91%
Theoretical Best
Warehouse
$3.94M
$3.44M – $4.59M
NOI $275,495 @ 7.0% cap · market cap 84.79%
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
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 04927, ME
3,370
Population
1,528
Households
2.2
Avg Household Size
44
Median Age
19%
College-Educated
95%
High-School Grad
43.9 sq mi
ZIP Area
77
Density / Sq Mi
$74,544
Median Household Income
$38,289
Median Earnings
$1,122
Median Rent
$172,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-unit property with separate driveways, updated heating, and a mix of historic details and modern improvements.
Where is this triplex located?
The property is located at 28 Baker Street Clinton, ME.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Three‑unit layout with one three‑bedroom residence and two one‑bedroom apartments; 2,638 square feet on a 0.77‑acre lot; Built in 1908 with hardwood floors, tin ceilings, and a custom kitchen
