Building Details

Year Built 2002

Buildings 1

Listing Agency: EXP Realty

Listed By: Tara Roy Show Phone

Source: Aroostookrealestate

Added: Sep 6 Changed: Sep 10 Last Checked: Sep 11 at 2:54PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty

Investment Insights

Based on property information with market context.

Built in 2002, this 3,424-square-foot duplex at 281 Mudgett Rd includes two distinct residential units, each with 2 bedrooms, 1 full bathroom, laundry, and an open kitchen, dining, and living arrangement. The ground-floor unit adds a bonus room completed in 2014, while the upper unit includes a four-season sunroom configured with a mudroom and sleeping area. An enclosed interior staircase allows the property to operate as one residence or maintain separate apartment-style spaces.

The property occupies 2 acres in Newburgh, with mature trees, open yard areas, and a stamped concrete patio. An insulated 2-car garage includes a woodstove and can support workshop use. Additional features include a generator hookup, propane fireplace, and stainless-steel appliances. Bangor is approximately 25 minutes away, with access to I-95 for regional travel. The property is located within the RSU 22 school district.

Key Highlights

• 3,424 SF duplex built in 2002
• Two units, each with 2 bedrooms, 1 full bathroom, and laundry
• 2‑acre lot with mature trees, open yard, and stamped concrete patio

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

$31,379

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

7.13%

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%

$627,580 $627.6K

Cap Rate 7%

$448,271 $448.3K

Cap Rate 9%

$348,656 $348.7K

Market Conditions

NOI Build-Up for 3,424 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

$47.3K $13.80/SF

− Vacancy

−$2.4K −$0.71/SF

EGI

$44.8K $13.09/SF

− OpEx

−$13.4K −$3.93/SF

NOI

$31.4K $9.16/SF

Area

Penobscot County, ME

Vacancy

5.13%

Lease Rate

$13.80 /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%

$627,580

Cap Rate 7%

$448,271

Cap Rate 9%

$348,656

Alternative Uses

Best Use

Multifamily LT 5

$448.3K

$392.2K – $523.0K (±1% cap)

NOI $31,379 @ 7.0% cap · market cap 7.13%

Second Best

Apartment 5plus

$412.3K

$360.8K – $481.0K (±1% cap)

NOI $28,860 @ 7.0% cap · market cap 6.56%

Theoretical Best

Office A

$1.11M

$967.6K – $1.29M (±1% cap)

NOI $77,410 @ 7.0% cap · market cap 17.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Acadia Services & Solutions, ... IT Consulting Firm

Suggested Use

Top Pick Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 04444, ME

9,304

Population

3,936

Households

2.4

Avg Household Size

42

Median Age

46%

College-Educated

98%

High-School Grad

69.0 sq mi

ZIP Area

135

Density / Sq Mi

$102,922

Median Household Income

$52,845

Median Earnings

$1,019

Median Rent

$270,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Heated Flex Space with Garage Bays

2660 Western Ave, Newburgh, ME 04444

$459,000

4,900 SF

View details

Two-Unit Duplex with Sunroom

281 Mudgett Road, Newburgh, ME 04444

$440,000

3,424 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Flexible duplex layout offers two independent living areas with an enclosed staircase for combined residential use.

Where is this duplex located?

The property is located at 281 Mudgett Rd Newburgh, ME.

What is the asking price?

The asking price for this property is $440,000.

What are key features of this property?

This property features: 3,424 SF duplex built in 2002; Two units, each with 2 bedrooms, 1 full bathroom, and laundry; 2‑acre lot with mature trees, open yard, and stamped concrete patio