Waterfront Residential Income
38 Pine Ridge Road Saco, ME 04072
38 Pine Ridge Road, Saco, ME, 04072
$2,265,000
For Sale
$2,265,000
4.32-acre Saco River setting with remodeled main house and a separate two-bedroom barn apartment.
Property Size4,026 SF
Price / SF$562.59
Days on Market345
Property Features for 38 Pine Ridge Road
General Information
- Standard status
- Active
- Size
- 4,026 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1985
Listing agency
EXP Realty
(207) 409-0606
Listed by
Julie Herbert
(207) 409-0606
Source
Compass
Added: Aug 12, 2025 Updated: Jul 22 at 2:53AM Checked: Jul 22 at 2:53AM
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 waterfront residential income property features a main house originally built in 1985 and completely remodeled in 2016. The home includes a first-floor primary suite, an expansive three-season sunroom, and two stories of glass designed for river views from almost every room. Additional improvements include true central air conditioning, irrigation, a new Viessmann boiler system, composite decking, and a generator. A finished daylight basement adds more river views, workout space, a full bath, and a workshop.
The land totals 4.32 acres and extends approximately 400 feet along the Saco River, positioned at the end of a quiet neighborhood. The property also offers boat and recreation access with Marsten’s Marina about five minutes away, Biddeford-Saco Country Club roughly eight minutes away, and Bayview Beach, Ferry Beach, and Camp Ellis within an easy bike ride.
To the right of the main home’s river views is Saco Island and to the left is Thunder Island. A nearby barn/apartment provides additional income space with two bedrooms, two bathrooms, an updated kitchen with granite counters, and a large deck with peek-a-boo river views. Below the deck is a two-bay garage sized for storage for four cars (or six Mini Coopers), with electricity, a half bath, and the option to add heat; there is also room to accommodate a lift and crane.
The land totals 4.32 acres and extends approximately 400 feet along the Saco River, positioned at the end of a quiet neighborhood. The property also offers boat and recreation access with Marsten’s Marina about five minutes away, Biddeford-Saco Country Club roughly eight minutes away, and Bayview Beach, Ferry Beach, and Camp Ellis within an easy bike ride.
To the right of the main home’s river views is Saco Island and to the left is Thunder Island. A nearby barn/apartment provides additional income space with two bedrooms, two bathrooms, an updated kitchen with granite counters, and a large deck with peek-a-boo river views. Below the deck is a two-bay garage sized for storage for four cars (or six Mini Coopers), with electricity, a half bath, and the option to add heat; there is also room to accommodate a lift and crane.
Key Highlights
- 4.32‑acre property on the Saco River with approximately 400 ft of river frontage
- Main home remodeled in 2016; originally built in 1985
- True central air plus updated heating including a new Viessmann boiler system
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.4k | $25.44 |
| − Vacancy | −$5.1k | −$1.26 |
| EGI | $97.4k | $24.18 |
| − OpEx | −$29.2k | −$7.25 |
| NOI | $68.2k | $16.93 |
4,026 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$973.6K
$851.9K – $1.14M
NOI $68,153 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$888.8K
$777.7K – $1.04M
NOI $62,219 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,336 @ 7.0% cap · market cap 3.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - 4.32-acre Saco River setting with remodeled main house and a separate two-bedroom barn apartment.
Where is this duplex located?
The property is located at 38 Pine Ridge Road Saco, ME.
What is the asking price?
The asking price for this property is $2,265,000.
What are key features of this property?
This property features: 4.32‑acre property on the Saco River with approximately 400 ft of river frontage; Main home remodeled in 2016; originally built in 1985; True central air plus updated heating including a new Viessmann boiler system
