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    Waterfront Residential Property with ADU Title is generated by Realmo AI

    4 Spring Lane, Eliot, ME 03903

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    For Sale
    $1,700,000

    MULTI_FAMILY - Colonial - Eliot, ME

    Property size:
    4,539 SF
    Lot size:
    1.88 Acres
    Price / SF:
    $374/SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 2:06 am

    Property Features for 4 Spring Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    VD
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 2
    Parking features
    Garage, Driveway
    Standard status
    Active
    Size
    4,539 SF
    Lot size
    1.88 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    9981

    Utilities

    Utilities
    Propane
    Heating system
    Wood, Oil
    Cooling system
    Central Air
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1974
    Floors in Building
    2
    Number of units
    2
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Sharon Parker

    Listing agent Sharon Parker

    Listing office Tate & Foss Sotheby's International Rlty 566 Washington Rd., Rye, ME

    Listing date Jun 2, 2026

    MLS# 5092405 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Set on 1.88 private acres with approximately 160 feet of waterfront on Spinney Creek in Eliot, Maine
    • Main residence plus a separate 2‑bedroom accessory dwelling unit (ADU)
    • Includes a detached cabin and additional flexible spaces, including dedicated “she shed” and “he shed” areas
    • Heated 2‑car garage with workshop space and abundant storage
    • Central air cooling; propane utilities; heating includes wood and oil
    • Wood‑frame construction with vinyl siding and a shingle roof; central air; garage and driveway parking

    Overview

    Set along the shores of Spinney Creek in Eliot, this waterfront residential property combines a primary home with multiple detached and flexible spaces. The main residence offers three bedrooms, with large windows designed to bring in natural light and frame water views. A separate accessory dwelling unit (ADU) provides two additional bedrooms, alongside a detached cabin and multiple extra areas suited to a range of lifestyles. Dedicated “she shed” and “he shed” spaces add further room for work or hobbies, and the property also includes a heated two-car garage, workshop space, and abundant storage with multiple outdoor living areas.

    The site includes approximately 160 feet of waterfront and sits on about 1.88 private acres. It is positioned just minutes from Kittery and Portsmouth, as well as area beaches, restaurants, shops, and marinas, supporting both everyday convenience and coastal recreation.

    This configuration can fit buyers seeking a waterfront primary residence with separate guest or family space, while still having additional structures for studios, fitness, workshops, or quiet retreats. The detached ADU may also support multi-generational living or visiting arrangements, complemented by the cabin and outbuilding spaces. Zoning is listed as VD.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eliot
    County
    York
    State
    Maine
    Longitude
    -70.770144
    Latitude
    43.099215

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    FAQs

    What type of property is this?
    Single family property - Coastal Maine waterfront setting with a 3-bedroom main home, separate 2-bedroom ADU, and additional flex spaces.
    Where is this single family property located?
    The property is located at 4 Spring Lane Eliot, ME.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: Set on 1.88 private acres with approximately 160 feet of waterfront on Spinney Creek in Eliot, Maine; Main residence plus a separate 2‑bedroom accessory dwelling unit (ADU); Includes a detached cabin and additional flexible spaces, including dedicated “she shed” and “he shed” areas
    (603) 964-8028
    We can help!
    Listing Contact
    Sharon Parker
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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