Duplex with Glassed-In
New
For Sale
$320,000
3 Leighton Street, Sanford, ME 04073
Sanford, ME
Property Size1,560 SF
Price / SF$205.13
Days on Market3
Property Features for 3 Leighton Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
2
Full bathrooms
2
Standard status
Active
Size
1,560 SF
Amenities
glassed-in front porch
laundry hookups
attic storage
Building Details
Year built
1900
Listing Agency:
Sanford, Maine · Better Homes and Gardens Real Estate
(207) 490-2900
Listed By:
Steve Brunette
(207) 850-8990
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 12:06PM
MLS# 1678399
Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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 1,560-square-foot duplex, built in 1900, contains two residential units with matching practical layouts. Each unit includes an updated eat-in kitchen, two bedrooms, a full bathroom, and a living room. Both units also have access to a glassed-in front porch. The basement provides laundry hookups and storage serving both units, while the upper residence adds attic storage.
The property is located in downtown Sanford at 3 Leighton Street, with a Sanford, ME 04073 address. Its two-unit configuration supports separate residential occupancy within one building, with shared utility and storage areas in the basement.
The property is located in downtown Sanford at 3 Leighton Street, with a Sanford, ME 04073 address. Its two-unit configuration supports separate residential occupancy within one building, with shared utility and storage areas in the basement.
Key Highlights
- Two‑unit duplex totaling 1,560 square feet
- Each unit includes two bedrooms, a full bath, living room, and updated eat‑in kitchen
- Glassed‑in front porch accessible to both units
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
$26,408
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
8.25%
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%
$528,160
$528.2K
Cap Rate 7%
$377,257
$377.3K
Cap Rate 9%
$293,422
$293.4K
Market Conditions
NOI Build-Up for 1,560 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
$39.7K $25.44/SF
− Vacancy
−$2.0K −$1.26/SF
EGI
$37.7K $24.18/SF
− OpEx
−$11.3K −$7.25/SF
NOI
$26.4K $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%
$528,160
Cap Rate 7%
$377,257
Cap Rate 9%
$293,422
Alternative Uses
Best Use
Multifamily LT 5
$377.3K
$330.1K – $440.1K
NOI $26,408 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$344.4K
$301.4K – $401.8K
NOI $24,109 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$494.5K
$432.7K – $576.9K
NOI $34,616 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 04073, ME
17,283
Population
7,772
Households
2.2
Avg Household Size
41
Median Age
21%
College-Educated
90%
High-School Grad
37.7 sq mi
ZIP Area
458
Density / Sq Mi
$69,135
Median Household Income
$42,758
Median Earnings
$1,145
Median Rent
$259,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units with updated eat-in kitchens and shared basement storage and laundry hookups.
Where is this duplex located?
The property is located at 3 Leighton Street Sanford, ME.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,560 square feet; Each unit includes two bedrooms, a full bath, living room, and updated eat‑in kitchen; Glassed‑in front porch accessible to both units
