Two-Unit Duplex with Detached
New
For Sale
$520,000
41 Locke St, Saco, ME 04072
Separate one- and two-bedroom apartments are complemented by a flexible extra room and enclosed porch.
Property Size1,646 SF
Price / SF$315.92
Days on Market4
Property Features for 41 Locke St
General Information
Standard status
Active
Size
1,646 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
enclosed porch
fenced backyard
deck
Building Details
Year Built
1925
Listed By:
Doug Schauf
(207) 838-5593
Source:
Makemaineyourhome
Added: Oct 12
Changed: Oct 13
Last Checked: Oct 14 at 11:15PM
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 Doug Schauf
Investment Insights
Based on property information with market context.
This 1,646-square-foot duplex, built in 1925, contains two apartments. The first-floor unit has one bedroom and an additional room suited to office, den, or other flexible use. Upstairs, the second unit provides two bedrooms and access to an unfinished attic, with any future living-space use subject to required approvals. The property also includes a detached two-car garage, an enclosed porch, a fenced backyard, and a rear deck.
The home is on Locke Street in Saco, near local schools, downtown, the Maine Turnpike, public transportation, shopping, and dining. The second-floor apartment can be reached from both inside and outside, supporting a range of household arrangements.
The home is on Locke Street in Saco, near local schools, downtown, the Maine Turnpike, public transportation, shopping, and dining. The second-floor apartment can be reached from both inside and outside, supporting a range of household arrangements.
Key Highlights
- Two apartments: a one‑bedroom unit with an additional flexible room and a two‑bedroom unit
- 1,646 square feet; built in 1925
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,864
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,280
$557.3K
Cap Rate 7%
$398,057
$398.1K
Cap Rate 9%
$309,600
$309.6K
Market Conditions
NOI Build-Up for 1,646 SF
Gross rent
$41.9K $25.44/SF
− Vacancy
−$2.1K −$1.26/SF
EGI
$39.8K $24.18/SF
− OpEx
−$11.9K −$7.25/SF
NOI
$27.9K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,280
Cap Rate 7%
$398,057
Cap Rate 9%
$309,600
Alternative Uses
Best Use
Multifamily LT 5
$398.1K
$348.3K – $464.4K
NOI $27,864 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$363.4K
$318.0K – $424.0K
NOI $25,438 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$521.8K
$456.6K – $608.7K
NOI $36,524 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate one- and two-bedroom apartments are complemented by a flexible extra room and enclosed porch.
Where is this duplex located?
The property is located at 41 Locke St Saco, ME.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two apartments: a one‑bedroom unit with an additional flexible room and a two‑bedroom unit; 1,646 square feet; built in 1925; Detached two‑car garage
