Two-Unit Duplex with
For Sale
$489,000
38 Harvest Drive, Orrington, ME 04474
Each residence offers one-floor living, efficient heating, and dedicated garage access on a well-sized residential lot.
Property Size1,760 SF
Price / SF$277.84
Days on Market286
Property Features for 38 Harvest Drive
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
Residential/Com.
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,699
Amenities
Heat Pump
Heat Pump, Direct Vent Heater
True
Yes
One-Floor Living
Slab
2.00
2
Shingle
Vinyl Siding, Wood Frame
Building Details
Year Built
2020
Buildings
1
Units
2
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 460-2137
Listed By:
Stacy White · License #BA921662
(207) 460-2137
Source:
Compass
Added: Nov 18, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:41PM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
Built in 2020, this 1,760-square-foot duplex contains two separately configured residences, each with 2 bedrooms, 1 bathroom, one-floor living, and a one-car garage. Heating is provided by heat pump systems, with one unit also featuring a direct-vent heater. The property has vinyl siding over a wood-frame structure and is situated on a slab foundation.
Located at 38 Harvest Drive in Orrington, the duplex is part of a planned subdivision with access to 5.85 acres of shared common area. The setting provides access to shopping, the airport, and outdoor recreation. Residential/Com. zoning and an established rental history add practical context for this income property.
Located at 38 Harvest Drive in Orrington, the duplex is part of a planned subdivision with access to 5.85 acres of shared common area. The setting provides access to shopping, the airport, and outdoor recreation. Residential/Com. zoning and an established rental history add practical context for this income property.
Key Highlights
- Two‑unit duplex built in 2020
- 1,760 square feet with 2 bedrooms and 1 bathroom in each unit
- Each residence includes a one‑car garage and one‑floor living
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
$16,129
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
3.30%
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%
$322,580
$322.6K
Cap Rate 7%
$230,414
$230.4K
Cap Rate 9%
$179,211
$179.2K
Market Conditions
NOI Build-Up for 1,760 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
$24.3K $13.80/SF
− Vacancy
−$1.2K −$0.71/SF
EGI
$23.0K $13.09/SF
− OpEx
−$6.9K −$3.93/SF
NOI
$16.1K $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%
$322,580
Cap Rate 7%
$230,414
Cap Rate 9%
$179,211
Alternative Uses
Best Use
Multifamily LT 5
$230.4K
$201.6K – $268.8K
NOI $16,129 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$211.9K
$185.4K – $247.3K
NOI $14,835 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$568.4K
$497.4K – $663.2K
NOI $39,790 @ 7.0% cap · market cap 8.14%
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
17
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
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 - Each residence offers one-floor living, efficient heating, and dedicated garage access on a well-sized residential lot.
Where is this duplex located?
The property is located at 38 Harvest Drive Orrington, ME.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2020; 1,760 square feet with 2 bedrooms and 1 bathroom in each unit; Each residence includes a one‑car garage and one‑floor living
