Building Details

Year Built 1860

Listed By: Pouliot Real Estate Show Phone

Source: Pouliotrealestate

Added: Sep 24 Last Checked: Sep 26 at 7:20AM

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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 = 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

$14,518

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

5.74%

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%

$290,360 $290.4K

Cap Rate 7%

$207,400 $207.4K

Cap Rate 9%

$161,311 $161.3K

Market Conditions

NOI Build-Up for 1,300 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

$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 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%

$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 5.74%

Second Best

Apartment 5plus

$180.9K

$158.3K – $211.1K (±1% cap)

NOI $12,664 @ 7.0% cap · market cap 5.01%

Theoretical Best

Warehouse

$1.94M

$1.70M – $2.26M (±1% cap)

NOI $135,763 @ 7.0% cap · market cap 53.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

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

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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 $253,000.

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