Triplex with Solar
New
For Sale
$1,200,000
419 Falmouth Rd, Falmouth, ME 04105
Each residence includes private laundry, with shared access through a covered front porch.
Property Size5,357 SF
Price / SF$224.01
Days on Market4
Property Features for 419 Falmouth Rd
General Information
Standard status
Active
Size
5,357 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1.5BA
Multifamily Units
3
Amenities
washer/dryer
covered porch
detached shed
solar panels
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX By The Bay
Listed By:
David Banks · License #204562
(207) 773-2345
Source:
603luxury
Added: Sep 5
Last Checked: Sep 7 at 11:26AM
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 RE/MAX By The Bay
Investment Insights
Based on property information with market context.
Built in 1900, this 5,357-square-foot triplex contains three residential units with distinct layouts and substantial storage. The first-floor residence has three bedrooms, two full bathrooms, a living room with brick fireplace, direct basement access, and a two-car garage. The other two units are arranged over two levels, with bedroom and bathroom configurations that provide separation between living and sleeping areas. Heat pumps serve the second unit, and all residences have their own washer and dryer.
The property is located at 419 Falmouth Rd in Falmouth, Maine. Two paved driveways provide off-street parking, while a detached shed and basement storage add utility. A covered front porch serves the shared main entrance, and solar panels are included. The building has been rented as a three-unit property since 1992.
The property is located at 419 Falmouth Rd in Falmouth, Maine. Two paved driveways provide off-street parking, while a detached shed and basement storage add utility. A covered front porch serves the shared main entrance, and solar panels are included. The building has been rented as a three-unit property since 1992.
Key Highlights
- 5,357‑square‑foot triplex built in 1900
- Rented as a three‑unit property since 1992
- First‑floor unit offers 3 bedrooms, 2 full bathrooms, a 2‑car garage, and basement access
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
$94,666
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
7.89%
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%
$1,893,320
$1.9M
Cap Rate 7%
$1,352,371
$1.4M
Cap Rate 9%
$1,051,844
$1.1M
Market Conditions
NOI Build-Up for 5,357 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
$144.6K $27.00/SF
− Vacancy
−$9.4K −$1.76/SF
EGI
$135.2K $25.25/SF
− OpEx
−$40.6K −$7.57/SF
NOI
$94.7K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$1,893,320
Cap Rate 7%
$1,352,371
Cap Rate 9%
$1,051,844
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,666 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,072 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,066 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 04105, ME
12,406
Population
5,332
Households
2.3
Avg Household Size
48
Median Age
70%
College-Educated
98%
High-School Grad
29.3 sq mi
ZIP Area
423
Density / Sq Mi
$131,833
Median Household Income
$69,303
Median Earnings
$2,070
Median Rent
$669,500
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?
Triplex - Each residence includes private laundry, with shared access through a covered front porch.
Where is this triplex located?
The property is located at 419 Falmouth Rd Falmouth, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,357‑square‑foot triplex built in 1900; Rented as a three‑unit property since 1992; First‑floor unit offers 3 bedrooms, 2 full bathrooms, a 2‑car garage, and basement access
