Triplex with Solar
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 Market49
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) 553-7302
Source:
Soldbymichaelthomas
Added: Sep 5
Changed: Oct 13
Last Checked: Oct 23 at 12:25PM
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
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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 / Yr
$94,666
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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
