Single-Level Duplex with
New
For Sale
$299,900
37 Mason Hill Road, Orrington, ME 04474
Vacant two-unit property with separate living areas, private laundry rooms, and attached garages in a wooded setting.
Property Size2,174 SF
Price / SF$137.95
Days on Market7
Property Features for 37 Mason Hill Road
General Information
Standard status
Active
Size
2,174 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
2003
Listing Agency:
EXP Realty
Listed By:
Corey Dunn
(207) 680-3667
Source:
Portsiderealestategroup
Added: Sep 13
Changed: Sep 18
Last Checked: Sep 18 at 9:26AM
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.
This 2,174-square-foot duplex, built in 2003, contains two nearly matching single-level units. Each residence offers two bedrooms, one full bathroom, an open kitchen, dining and living arrangement, a private laundry room, and an attached one-car garage with direct interior access. One unit has updated kitchen finishes, flooring, carpeting, paint, and bathroom details, while the other remains functional and offers room for cosmetic improvements. Both units are currently vacant.
The property occupies approximately 3 private, wooded acres near Brewer Lake and is located at 37 Mason Hill Road in Orrington, with access to Brewer and Bangor. Separate living spaces, garages, and laundry facilities support rental, owner-occupant, or multigenerational use. The two units are substantially similar in layout, providing a straightforward configuration for managing the property as a duplex.
The property occupies approximately 3 private, wooded acres near Brewer Lake and is located at 37 Mason Hill Road in Orrington, with access to Brewer and Bangor. Separate living spaces, garages, and laundry facilities support rental, owner-occupant, or multigenerational use. The two units are substantially similar in layout, providing a straightforward configuration for managing the property as a duplex.
Key Highlights
- 2,174‑square‑foot duplex built in 2003
- Approximately 3 private, wooded acres near Brewer Lake
- Two single‑level units, each with 2 bedrooms and 1 full bath
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
$19,923
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
6.64%
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%
$398,460
$398.5K
Cap Rate 7%
$284,614
$284.6K
Cap Rate 9%
$221,367
$221.4K
Market Conditions
NOI Build-Up for 2,174 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
$30.0K $13.80/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$28.5K $13.09/SF
− OpEx
−$8.5K −$3.93/SF
NOI
$19.9K $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%
$398,460
Cap Rate 7%
$284,614
Cap Rate 9%
$221,367
Alternative Uses
Best Use
Multifamily LT 5
$284.6K
$249.0K – $332.1K
NOI $19,923 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$261.8K
$229.1K – $305.4K
NOI $18,324 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$702.1K
$614.4K – $819.2K
NOI $49,150 @ 7.0% cap · market cap 16.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
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Business Placement
Demographics for 04474, ME
3,812
Population
1,739
Households
2.2
Avg Household Size
47
Median Age
40%
College-Educated
98%
High-School Grad
25.0 sq mi
ZIP Area
152
Density / Sq Mi
$92,583
Median Household Income
$53,571
Median Earnings
$1,072
Median Rent
$239,200
Median Home Value
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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 - Vacant two-unit property with separate living areas, private laundry rooms, and attached garages in a wooded setting.
Where is this duplex located?
The property is located at 37 Mason Hill Road Orrington, ME.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,174‑square‑foot duplex built in 2003; Approximately 3 private, wooded acres near Brewer Lake; Two single‑level units, each with 2 bedrooms and 1 full bath
