Two-Unit Duplex with
New
For Sale
$440,000
281 Mudgett Road, Newburgh, ME 04444
Multi-Family, Newburgh, ME
Property Size3,424 SF
Lot Size2.00 Acres
Price / SF$128.50
Days on Market5
Property Features for 281 Mudgett Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Open, Heated
Patio and Porch features
Deck, Porch, Patio
Pets allowed
No
Interior features
Walk-in Closets, In-Law Apartment, 1st Floor Bedroom, Bathtub, Pantry
Lot features
Rolling/ Sloping, Wooded, Rural
Standard status
Active
Size
3,424 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5904
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Oil, Other (Heating), Propane (Heating), Baseboard, Hot Water(Heating)
Water source
Private
Amenities
generator hookup
propane fireplace
stainless-steel appliances
stamped concrete patio
woodstove
four-season sunroom
in-unit laundry
Building Details
Year built
2002
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate, Tile, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial, Modern
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Tara Roy
(207) 991-8272
Added: Sep 8
Last Checked: Sep 12 at 4:06AM
MLS# 1679334
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 2002 duplex provides 3,424 square feet across two residential units, with each unit offering 2 bedrooms, 1 full bathroom, laundry, and an open kitchen, dining, and living arrangement. An enclosed interior staircase allows the building to operate as one home or as separate apartments. The first-floor unit includes a bonus room addition completed in 2014, while the upper level features a four-season sunroom configured with a mudroom and additional sleeping area. A generator hookup, propane fireplace, stainless-steel appliances, and multiple flooring types add practical functionality.
The property occupies 2 acres at 281 Mudgett Road in Newburgh, with wooded surroundings, open yard space, a stamped concrete patio, and an insulated 2-car garage equipped with a woodstove. Bangor is approximately 25 minutes away, and I-95 provides commuter access. The property is served by private water and a private septic system and is located within the RSU 22 school district.
The property occupies 2 acres at 281 Mudgett Road in Newburgh, with wooded surroundings, open yard space, a stamped concrete patio, and an insulated 2-car garage equipped with a woodstove. Bangor is approximately 25 minutes away, and I-95 provides commuter access. The property is served by private water and a private septic system and is located within the RSU 22 school district.
Key Highlights
- 3,424‑square‑foot duplex with 2 residential units
- Each unit includes 2 bedrooms, 1 full bathroom, and laundry
- 2‑acre lot with wooded surroundings, 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
NOI $31,379 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$412.3K
$360.8K – $481.0K
NOI $28,860 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$1.11M
$967.6K – $1.29M
NOI $77,410 @ 7.0% cap · market cap 17.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible residential property with separate living areas, private outdoor space, and a heated two-car garage.
Where is this duplex located?
The property is located at 281 Mudgett Road 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‑square‑foot duplex with 2 residential units; Each unit includes 2 bedrooms, 1 full bathroom, and laundry; 2‑acre lot with wooded surroundings, open yard, and stamped concrete patio
