Updated Two-Unit
New
For Sale
$869,000
28 Seacliff Avenue, Old Orchard Beach, ME 04064
Multi-Family, Old Orchard Beach, ME
Property Size1,436 SF
Lot Size0.06 Acres
Price / SF$605.15
Days on Market1
Property Features for 28 Seacliff Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
BRD
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Patio and Porch features
Deck
Basement
Crawl Space
Lot features
Near Country Club, Corner Lot, Cul-De-Sac, Wooded, Near Golf Course, Near Public Beach, Near Turnpike/ Interstate, Neighborhood, Near Railroad
Standard status
Active
Size
1,436 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5110
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Hot Water(Heating), Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Wood Frame, Clapboard, Vinyl Siding
Roof type
Shingle, Rolled Hot Mop
Architectural style
Ranch
Listing Agency:
Signature Homes Real Estate Group, LLC
(207) 885-0500
Listed By:
Susan Croteau
(207) 229-3091
Added: Sep 17
Last Checked: Sep 17 at 4:06PM
MLS# 1680976
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 1,436-square-foot duplex occupies a 0.06-acre lot and includes two distinct residential units. The three-bedroom apartment is vacant, while the two-bedroom unit has a tenant on a month-to-month arrangement. The property was built in 1900 with a ranch design and wood-frame construction, complemented by clapboard and vinyl siding. Recent work includes a new roof, heating system, siding, windows, doors, and professionally installed piers and posts. Gravel was also added in the crawlspace.
Located three blocks from the ocean in Old Orchard Beach, the property offers public water and public sewer service. The BRD zoning supports its current two-unit configuration, while the existing layout also allows consideration of continued rental use, owner occupancy with rental income, or potential conversion to a single-family residence. Additional features include a deck, propane hot-water baseboard heating, window-unit cooling, and shingle and rolled hot-mop roofing.
Located three blocks from the ocean in Old Orchard Beach, the property offers public water and public sewer service. The BRD zoning supports its current two-unit configuration, while the existing layout also allows consideration of continued rental use, owner occupancy with rental income, or potential conversion to a single-family residence. Additional features include a deck, propane hot-water baseboard heating, window-unit cooling, and shingle and rolled hot-mop roofing.
Key Highlights
- Three blocks from the ocean
- Two‑unit layout with a vacant three‑bedroom apartment and a tenant‑occupied two‑bedroom unit
- 1,436 square feet on a 0.06‑acre lot
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
$24,309
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
2.80%
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%
$486,180
$486.2K
Cap Rate 7%
$347,271
$347.3K
Cap Rate 9%
$270,100
$270.1K
Market Conditions
NOI Build-Up for 1,436 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
$36.5K $25.44/SF
− Vacancy
−$1.8K −$1.26/SF
EGI
$34.7K $24.18/SF
− OpEx
−$10.4K −$7.25/SF
NOI
$24.3K $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%
$486,180
Cap Rate 7%
$347,271
Cap Rate 9%
$270,100
Alternative Uses
Best Use
Multifamily LT 5
$347.3K
$303.9K – $405.2K
NOI $24,309 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$317.0K
$277.4K – $369.9K
NOI $22,192 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$455.2K
$398.3K – $531.1K
NOI $31,864 @ 7.0% cap · market cap 3.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
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Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
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 separate residences combine recent structural and systems improvements with public water and sewer service.
Where is this duplex located?
The property is located at 28 Seacliff Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Three blocks from the ocean; Two‑unit layout with a vacant three‑bedroom apartment and a tenant‑occupied two‑bedroom unit; 1,436 square feet on a 0.06‑acre lot
