2020 Duplex with Separate
For Sale
$395,000
401 East Pittston Road, Pittston, ME 04345
Two residential units offer divided basement storage, fenced yard areas, and modern interior finishes.
Property Size1,970 SF
Lot Size9.66 Acres
Price / SF$200.51
Days on Market195
Property Features for 401 East Pittston Road
General Information
Standard status
Active
Size
1,970 SF
Lot size
9.66 Acres
Property subtype
Multi-Family
Zoning
RESIDENTIAL
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,271
Amenities
generator hookup
fenced outdoor space
storage barn
Hot Water, Baseboard
Interior, Full, Unfinished
Vinyl, Carpet
No
Yes
Laundry - 1st Floor, Main Level, Washer Hookup
Concrete Perimeter
3.00
4
2.20
Shingle
Shed(s)
Vinyl Siding, Other
Building Details
Year Built
2020
Buildings
1
Units
2
Listing Agency:
LAER Realty Partners
(207) 485-1587
Listed By:
Maria Kempton
(207) 485-1587
Source:
Compass
Added: Feb 17
Changed: Aug 31
Last Checked: Aug 31 at 12:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LAER Realty Partners
Investment Insights
Based on property information with market context.
Built in 2020, this 1,970-square-foot duplex contains two units, each with 2 bedrooms and 1.5 bathrooms. The interiors feature recessed lighting, vinyl flooring, carpet, and contemporary finishes. Separate water heaters, electric service, and boiler systems with HWBB heat serve each unit. A generator hookup is also provided.
The property encompasses 9.66± acres at 401 East Pittston Road in Pittston, Maine, approximately 15 minutes from I-95. A full unfinished basement is divided into secured storage areas for the individual units, while fencing separates the outdoor spaces. The property also includes a storage barn for tools, equipment, or recreational items.
The property encompasses 9.66± acres at 401 East Pittston Road in Pittston, Maine, approximately 15 minutes from I-95. A full unfinished basement is divided into secured storage areas for the individual units, while fencing separates the outdoor spaces. The property also includes a storage barn for tools, equipment, or recreational items.
Key Highlights
- 2020‑built duplex with two 2‑bedroom, 1.5‑bath units
- 1,970 SF building on 9.66± acres
- Separate water heaters, electric service, and boiler systems for 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
$22,000
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
5.57%
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%
$440,000
$440.0K
Cap Rate 7%
$314,286
$314.3K
Cap Rate 9%
$244,444
$244.4K
Market Conditions
NOI Build-Up for 1,970 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
$31.9K $16.20/SF
− Vacancy
−$485 −$0.25/SF
EGI
$31.4K $15.95/SF
− OpEx
−$9.4K −$4.79/SF
NOI
$22.0K $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%
$440,000
Cap Rate 7%
$314,286
Cap Rate 9%
$244,444
Alternative Uses
Best Use
Multifamily LT 5
$314.3K
$275.0K – $366.7K
NOI $22,000 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$274.2K
$239.9K – $319.9K
NOI $19,191 @ 7.0% cap · market cap 4.86%
Theoretical Best
Warehouse
$2.94M
$2.57M – $3.43M
NOI $205,733 @ 7.0% cap · market cap 52.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 04345, ME
12,052
Population
5,562
Households
2.2
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
71.7 sq mi
ZIP Area
168
Density / Sq Mi
$68,844
Median Household Income
$42,559
Median Earnings
$956
Median Rent
$208,700
Median Home Value
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 - Two residential units offer divided basement storage, fenced yard areas, and modern interior finishes.
Where is this duplex located?
The property is located at 401 East Pittston Road Pittston, ME.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2020‑built duplex with two 2‑bedroom, 1.5‑bath units; 1,970 SF building on 9.66± acres; Separate water heaters, electric service, and boiler systems for each unit
