Waterfront Duplex With
38 Pine Ridge Road, Saco, ME 04072
For Sale
$2,265,000
Multi-Family, Saco, ME
Property Size4,026 SF
Lot Size4.32 Acres
Price / SF$562.59
Days on Market124
Property Features for 38 Pine Ridge Road
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Pets allowed
Interior features
Basement
Lot features
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Water front features
Water front
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Architectural style
Additional Structures
Buildings
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Julie Herbert
(207) 409-0606
Added: Jul 13
Changed: Oct 27
Last Checked: Nov 13 at 11:06PM
MLS# 1641390
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.
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Investment Insights
Based on property information with market context.
This waterfront duplex property includes a primary residence and a separate apartment in a nearby barn. The 4,026-square-foot main home was built in 1985 and remodeled in 2016, with a first-floor primary suite, three-season sunroom, glass-lined living areas, finished daylight basement, workshop, full bath, central air conditioning, irrigation, generator, and updated heating systems. The home also provides hardwood flooring, public water, and public sewer.
Set on 4.32 acres along the Saco River, the property has approximately 400 feet of river frontage and water views from much of the main residence. The apartment contains two bedrooms, two bathrooms, an updated kitchen with granite counters, and a private deck. Below it is a two-bay garage with electricity, a half bath, and capacity for four cars. The property is located at 38 Pine Ridge Road in Saco, Maine, and is zoned LDR.
Set on 4.32 acres along the Saco River, the property has approximately 400 feet of river frontage and water views from much of the main residence. The apartment contains two bedrooms, two bathrooms, an updated kitchen with granite counters, and a private deck. Below it is a two-bay garage with electricity, a half bath, and capacity for four cars. The property is located at 38 Pine Ridge Road in Saco, Maine, and is zoned LDR.
Key Highlights
- 4.32‑acre waterfront property with approximately 400 feet along the Saco River
- 4,026‑square‑foot primary residence built in 1985 and remodeled in 2016
- Separate apartment includes 2 bedrooms, 2 bathrooms, updated kitchen, and private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,153
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,363,060
$1.4M
Cap Rate 7%
$973,614
$973.6K
Cap Rate 9%
$757,256
$757.3K
Market Conditions
NOI Build-Up for 4,026 SF
Gross rent
$102.4K $25.44/SF
− Vacancy
−$5.1K −$1.26/SF
EGI
$97.4K $24.18/SF
− OpEx
−$29.2K −$7.25/SF
NOI
$68.2K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,363,060
Cap Rate 7%
$973,614
Cap Rate 9%
$757,256
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 authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
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Business Placement
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in York County, ME
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Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Riverfront property combines a remodeled primary residence with a separate apartment, garage space, and substantial outdoor improvements.
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 waterfront property with approximately 400 feet along the Saco River; 4,026‑square‑foot primary residence built in 1985 and remodeled in 2016; Separate apartment includes 2 bedrooms, 2 bathrooms, updated kitchen, and private deck
