Building Details

Year Built 2025

Listing Agency: Realty of Maine

Listed By: Kortnie Mullins, Renee Hudgens Kortnie Mullins Show Phone

Source: Lawanaandcompany

Added: Jul 21 Changed: Oct 8 Last Checked: Oct 7 at 2:23PM

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Investment Insights

Based on property information with market context.

Completed in 2025, this duplex contains 1,896 square feet with two separate residences. Each unit offers 2 bedrooms, 1 full bath, and an open-concept arrangement linking the living room and kitchen. Granite countertops and luxury vinyl tile flooring are provided throughout each unit, while an attached garage and dedicated storage space serve each residence. High-efficiency boilers provide heating.

The property occupies 1.33 acres at 37 Lower Dedham Rd in Holden, Maine. Its two-unit configuration supports owner-occupied living with rental income, multigenerational housing, or an in-law arrangement, as described for the property.

Key Highlights

• 2025 construction with 1,896 square feet
• Two units, each with 2 bedrooms and 1 full bath
• Each unit includes an attached garage and dedicated storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,376

Cap Rate

3.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$347,520 $347.5K

Cap Rate 7%

$248,229 $248.2K

Cap Rate 9%

$193,067 $193.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,896 SF

Gross rent

$26.2K $13.80/SF

− Vacancy

−$1.3K −$0.71/SF

EGI

$24.8K $13.09/SF

− OpEx

−$7.4K −$3.93/SF

NOI

$17.4K $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 Rate 5%

$347,520

Cap Rate 7%

$248,229

Cap Rate 9%

$193,067

Alternative Uses

Best Use

Multifamily LT 5

$248.2K

$217.2K – $289.6K (±1% cap)

NOI $17,376 @ 7.0% cap · market cap 3.48%

Second Best

Apartment 5plus

$228.3K

$199.8K – $266.4K (±1% cap)

NOI $15,981 @ 7.0% cap · market cap 3.20%

Theoretical Best

Office A

$612.4K

$535.8K – $714.4K (±1% cap)

NOI $42,865 @ 7.0% cap · market cap 8.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop Bakery Furniture & Home Goods Grocery & Convenience Store Garden Center Hair Salon

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

Location Intelligence

Trade Area within ½ mile

14

Businesses Nearby

Explore this area Business Placement

Demographics for 04429, ME

4,925

Population

2,963

Households

1.7

Avg Household Size

48

Median Age

42%

College-Educated

98%

High-School Grad

70.6 sq mi

ZIP Area

70

Density / Sq Mi

$92,223

Median Household Income

$52,391

Median Earnings

$1,316

Median Rent

$268,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Each residence includes an attached garage, dedicated storage, and granite kitchen countertops.

Where is this duplex located?

The property is located at 37 Lower Dedham Rd Holden, ME.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 2025 construction with 1,896 square feet; Two units, each with 2 bedrooms and 1 full bath; Each unit includes an attached garage and dedicated storage