Wooded Acreage
New
For Sale
$299,900
37 Mason Hill Road, Orrington, ME 04474
Multi-Family, Orrington, ME
Property Size2,174 SF
Lot Size3.03 Acres
Price / SF$137.95
Days on Market3
Property Features for 37 Mason Hill Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
res-farming
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
1st Floor Bedroom, Bathtub, Shower
Lot features
Rolling/ Sloping, Wooded, Rural
Standard status
Active
Size
2,174 SF
Lot size
3.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3186
Utilities
Sewer type
Private Sewer
Heating system
Hot Water(Heating), Baseboard, Oil
Water source
Private
Building Details
Year built
2003
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Corey Dunn
(207) 949-2425
Added: Sep 14
Last Checked: Sep 16 at 3:06AM
MLS# 1680521
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 2003 ranch-style duplex contains 2,174 square feet across two separate single-level residences. Each unit includes two bedrooms, one full bathroom, an open kitchen, dining and living area, a dedicated laundry room, and an attached one-car garage with direct interior access. One residence has updated kitchen finishes, flooring, carpeting, paint, and bathroom finishes; the other remains functional and available for cosmetic improvements. The property is currently vacant, allowing a new owner to determine occupancy and begin updates without existing leases.
Set on approximately 3.03 wooded acres in Orrington, the home sits back from the main road near Brewer Lake and is within reach of Brewer and Bangor. Private water and private sewer serve the property. Exterior materials include wood framing and vinyl siding, with oil-fired hot-water baseboard heat, vinyl and carpet flooring, and a shingle roof.
Set on approximately 3.03 wooded acres in Orrington, the home sits back from the main road near Brewer Lake and is within reach of Brewer and Bangor. Private water and private sewer serve the property. Exterior materials include wood framing and vinyl siding, with oil-fired hot-water baseboard heat, vinyl and carpet flooring, and a shingle roof.
Key Highlights
- Two‑unit ranch property totaling 2,174 square feet
- Set on approximately 3.03 wooded acres
- Each unit offers 2 bedrooms, 1 full bathroom, laundry, and an attached one‑car garage
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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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 ranch property with private garages, laundry rooms, and a recently refreshed residence.
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: Two‑unit ranch property totaling 2,174 square feet; Set on approximately 3.03 wooded acres; Each unit offers 2 bedrooms, 1 full bathroom, laundry, and an attached one‑car garage
