Two-Residence Waterfront Multifamily
403 Webhannet Drive, Wells, ME 04090
For Sale
$1,100,000
Two separate dwellings combine coastal water views with flexible residential layouts.
Property Size3,124 SF
Price / SF$352.11
Days on Market158
Property Features for 403 Webhannet Drive
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Lexi Leddy Real Estate LLC
(603) 828-2601
Listed By:
Brenda Maggy · License ME #68434
(603) 531-3839
Source:
Amerorealty
Added: Jun 5
Changed: Nov 7
Last Checked: Nov 8 at 2:50PM
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 Lexi Leddy Real Estate LLC
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Investment Insights
Based on property information with market context.
This 3,124-square-foot waterfront property contains two separate residences. The main home, built in 1900, has seven bedrooms, three bathrooms, and expansive decks. A detached carriage house adds a full kitchen, living room, bedroom, bathroom, and second-floor living area. Both residences have water views, with ocean and marsh scenery from the property.
The site is in Fisherman's Cove in Wells, Maine, with access to Crescent Beach nearby; Wells Beach and Moody Beach are a short drive away. Protected land associated with the Rachel Carson National Wildlife Refuge abuts the property. Zoning is RB & SO.
The site is in Fisherman's Cove in Wells, Maine, with access to Crescent Beach nearby; Wells Beach and Moody Beach are a short drive away. Protected land associated with the Rachel Carson National Wildlife Refuge abuts the property. Zoning is RB & SO.
Key Highlights
- Two separate residences on a waterfront property
- 3,124 square feet; built in 1900
- Main residence has 7 bedrooms, 3 bathrooms, and expansive decks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,279
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,580
$965.6K
Cap Rate 7%
$689,700
$689.7K
Cap Rate 9%
$536,433
$536.4K
Market Conditions
NOI Build-Up for 3,124 SF
Gross rent
$92.6K $29.64/SF
− Vacancy
−$4.8K −$1.54/SF
EGI
$87.8K $28.10/SF
− OpEx
−$39.5K −$12.64/SF
NOI
$48.3K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,580
Cap Rate 7%
$689,700
Cap Rate 9%
$536,433
Alternative Uses
Best Use
Apartment 5plus
$689.7K
$603.5K – $804.7K
NOI $48,279 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$990.3K
$866.5K – $1.16M
NOI $69,320 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
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Business Placement
Demographics for 04090, ME
11,314
Population
9,590
Households
1.2
Avg Household Size
53
Median Age
38%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
196
Density / Sq Mi
$83,900
Median Household Income
$47,928
Median Earnings
$1,313
Median Rent
$445,800
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in York County, ME
Properties on Market for Multifamily properties in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate dwellings combine coastal water views with flexible residential layouts.
Where is this multifamily property located?
The property is located at 403 Webhannet Drive Wells, ME.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two separate residences on a waterfront property; 3,124 square feet; built in 1900; Main residence has 7 bedrooms, 3 bathrooms, and expansive decks
