Two-Unit Duplex With
New
For Sale
$279,950
371 Sanford Rd, Wells, ME 04090
Residential income property with a detached garage and convenient access to the turnpike, beaches, and local amenities.
Property Size1,653 SF
Lot Size1.08 Acres
Price / SF$169.36
Days on Market3
Property Features for 371 Sanford Rd
General Information
Standard status
Active
Size
1,653 SF
Total Parking Spaces
2
Lot size
1.08 Acres
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Bring your renovation ideas
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1948
Listed By:
Pouliot Real Estate
(207) 248-6044
Source:
Pouliotrealestate
Added: Sep 20
Last Checked: Sep 21 at 6:05AM
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 Pouliot Real Estate
Investment Insights
Based on property information with market context.
This 1,653-square-foot duplex contains two residential units, with each unit arranged as a two-bedroom, one-bath residence. A detached two-car garage accompanies the property, which sits on a 1.08-acre lot. The building dates to 1948.
The property is located near the turnpike, area beaches, and local amenities, providing access to several nearby destinations. Its two-unit configuration and separate garage create a straightforward residential income property format for buyers evaluating a duplex asset.
The property is located near the turnpike, area beaches, and local amenities, providing access to several nearby destinations. Its two-unit configuration and separate garage create a straightforward residential income property format for buyers evaluating a duplex asset.
Key Highlights
- Two‑unit duplex with 1,653 square feet of building area
- Each unit includes 2 bedrooms and 1 full bath
- Detached 2‑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
$25,546
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
9.13%
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%
$510,920
$510.9K
Cap Rate 7%
$364,943
$364.9K
Cap Rate 9%
$283,844
$283.8K
Market Conditions
NOI Build-Up for 1,653 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
$49.0K $29.64/SF
− Vacancy
−$2.5K −$1.54/SF
EGI
$46.4K $28.10/SF
− OpEx
−$20.9K −$12.64/SF
NOI
$25.5K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
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%
$510,920
Cap Rate 7%
$364,943
Cap Rate 9%
$283,844
Alternative Uses
Best Use
Multifamily LT 5
$399.7K
$349.8K – $466.4K
NOI $27,982 @ 7.0% cap · market cap 10.00%
Second Best
Apartment 5plus
$364.9K
$319.3K – $425.8K
NOI $25,546 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$524.0K
$458.5K – $611.3K
NOI $36,679 @ 7.0% cap · market cap 13.10%
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
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 04090, ME
11,314
Population
9,590
Households
1.2
Avg Household Size
53
Median Age
38%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
196
Density / Sq Mi
$83,900
Median Household Income
$47,928
Median Earnings
$1,313
Median Rent
$445,800
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 - Residential income property with a detached garage and convenient access to the turnpike, beaches, and local amenities.
Where is this duplex located?
The property is located at 371 Sanford Rd Wells, ME.
What is the asking price?
The asking price for this property is $279,950.
What are key features of this property?
This property features: Two‑unit duplex with 1,653 square feet of building area; Each unit includes 2 bedrooms and 1 full bath; Detached 2‑car garage
