4 Lovejoy Pond Rd, Wayne, ME 04284

Building Details

Year Built 1860 More

Listed By: Pouliot Real Estate Show Phone

Source: Pouliotrealestate

Added: Sep 24 Changed: Nov 13 Last Checked: Nov 12 at 7:01AM

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Investment Insights

Based on property information with market context.

This two-unit duplex has separate laundry facilities for each residence, both located on the main level. The property sits on a corner lot and was built in 1860.

A public beach and a waterfall are directly across the street at 4 Lovejoy Pond Rd in Wayne, Maine.

Key Highlights

• Two separate residential units
• Laundry on the main level in each unit
• Corner‑lot location

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,518

Cap Rate

5.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,360 $290.4K

Cap Rate 7%

$207,400 $207.4K

Cap Rate 9%

$161,311 $161.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,300 SF

Gross rent

$21.1K $16.20/SF

− Vacancy

−$320 −$0.25/SF

EGI

$20.7K $15.95/SF

− OpEx

−$6.2K −$4.79/SF

NOI

$14.5K $11.17/SF

Area

Kennebec County, ME

Vacancy

1.52%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$290,360

Cap Rate 7%

$207,400

Cap Rate 9%

$161,311

Alternative Uses

Best Use

Multifamily LT 5

$207.4K

$181.5K – $242.0K (±1% cap)

NOI $14,518 @ 7.0% cap · market cap 5.85%

Second Best

Apartment 5plus

$180.9K

$158.3K – $211.1K (±1% cap)

NOI $12,664 @ 7.0% cap · market cap 5.11%

Theoretical Best

Office A

$369.5K

$323.3K – $431.1K (±1% cap)

NOI $25,864 @ 7.0% cap · market cap 10.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 04284, ME

1,113

Population

841

Households

1.3

Avg Household Size

54

Median Age

43%

College-Educated

95%

High-School Grad

18.4 sq mi

ZIP Area

60

Density / Sq Mi

$75,987

Median Household Income

$50,114

Median Earnings

$889

Median Rent

$327,900

Median Home Value

Market

Average Price Trend$/SF for Duplexes in Kennebec County, ME

$241 Jul

$217 Aug

$138 Sep

$152 Oct

Properties on Market for Duplexes in Kennebec County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

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58-64 Fairbanks Road, Wayne, ME 04284

$495,000

1,375 SF

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Mixed-Use Store with Apartment

506 Main Street, Wayne, ME 04284

$525,000

3,781 SF

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Frequently Asked Questions

What type of property is this?

Duplex - Each residence has its own laundry area on the main level.

Where is this duplex located?

The property is located at 4 Lovejoy Pond Rd Wayne, ME.

What is the asking price?

The asking price for this property is $248,000.

What are key features of this property?

This property features: Two separate residential units; Laundry on the main level in each unit; Corner‑lot location