Two-Unit Cape Cod
New
For Sale
$253,000
4 Lovejoy Pond Road, Wayne, ME 04284
Multi-Family, Wayne, ME
Property Size1,300 SF
Lot Size0.14 Acres
Price / SF$194.62
Days on Market6
Property Features for 4 Lovejoy Pond Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Patio and Porch features
Deck, Patio
Pets allowed
No
Interior features
Bathtub, Shower
Basement
Unfinished, Full
Lot features
Corner Lot, Level, Near Public Beach, Rural
Standard status
Active
Size
1,300 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3386
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Baseboard, Oil, Hot Water(Heating), Heat Pump (Heating), Propane (Heating)
Water source
Private, Well
Amenities
in-unit laundry
Building Details
Year built
1860
Floors in Building
2
Number of units
2
Flooring type
Wood, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Metal
Architectural style
Cape Cod
Additional Structures
Outbuilding
Listing Agency:
Your Home Sold Guaranteed Realty
(207) 629-9211
Listed By:
Shelley Nadeau
(207) 215-8348
Added: Sep 22
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# 1681578
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.
Investment Insights
Based on property information with market context.
This two-unit duplex presents a Cape Cod-style layout with approximately 1,300 square feet of property size. Each unit includes laundry facilities on the main level, while interior finishes include wood and laminate flooring along with both bathtub and shower accommodations. The structure dates to 1860 and features wood-frame construction, vinyl siding, and a metal roof.
Set on 0.14 acres at 4 Lovejoy Pond Road in Wayne, Maine, the property occupies a corner lot. Outdoor features include a deck and patio. Private well and septic service the property, with a basement also included in the configuration.
Set on 0.14 acres at 4 Lovejoy Pond Road in Wayne, Maine, the property occupies a corner lot. Outdoor features include a deck and patio. Private well and septic service the property, with a basement also included in the configuration.
Key Highlights
- Two‑unit duplex with approximately 1,300 square feet
- 0.14‑acre corner lot at 4 Lovejoy Pond Road, Wayne, ME 04284
- Main‑level laundry in each unit
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
NOI $14,518 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$180.9K
$158.3K – $211.1K
NOI $12,664 @ 7.0% cap · market cap 5.01%
Theoretical Best
Warehouse
$1.94M
$1.70M – $2.26M
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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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Corner-lot duplex with separate main-level laundry areas, private outdoor space, and residential zoning.
Where is this duplex located?
The property is located at 4 Lovejoy Pond Road 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‑unit duplex with approximately 1,300 square feet; 0.14‑acre corner lot at 4 Lovejoy Pond Road, Wayne, ME 04284; Main‑level laundry in each unit
