Well-Maintained Triplex with
New
For Sale
$1,200,000
419 Falmouth Road, Falmouth, ME 04105
Multi-Family, Falmouth, ME
Property Size5,357 SF
Lot Size0.45 Acres
Price / SF$224.01
Days on Market2
Property Features for 419 Falmouth Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
VMU
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Basement, Bathroom 1, Bathroom 4
Parking features
Underground/Basement, Assigned
Patio and Porch features
Porch
Interior features
1st Floor Primary Bedroom w/Bath, Storage
Basement
Unfinished, Partial
Lot features
Well Landscaped, Open, Level, Near Shopping, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
5,357 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8701
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Hot Water(Heating), Electric (Heating), Natural Gas
Cooling system
Heat Pump
Water source
Public
Amenities
covered front porch
detached shed
solar panels
Building Details
Year built
1900
Number of units
3
Flooring type
Wood, Carpet, Softwood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle, Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
RE/MAX By The Bay · RE/MAX International
(207) 773-2345
Listed By:
David Banks · License #204562
(207) 831-8033
Added: Sep 1
Last Checked: Sep 2 at 11:06PM
MLS# 1678620
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,357-square-foot triplex sits on a 0.45-acre parcel in Falmouth and has operated as a three-unit rental property since 1992. Built in 1900, the wood-frame building includes vinyl siding, a basement, covered porch, solar panels, and a detached shed. The first residence has three bedrooms, two full bathrooms, a primary suite with private bath, a fireplace, basement access, and a two-car garage. The other two residences are arranged over two levels and each includes two bedrooms, fireplaces or separate living areas, and a combination of full and half bathrooms.
All three residences have their own washers and dryers and share a covered main entry. Two paved driveways provide off-street parking, while the basement and detached shed add storage capacity. Heat pumps provide heating and cooling in supported areas, with public water and public sewer serving the property. VMU zoning and the established rental history are additional property facts.
All three residences have their own washers and dryers and share a covered main entry. Two paved driveways provide off-street parking, while the basement and detached shed add storage capacity. Heat pumps provide heating and cooling in supported areas, with public water and public sewer serving the property. VMU zoning and the established rental history are additional property facts.
Key Highlights
- Three‑unit rental property operating since 1992
- 5,357 square feet on 0.45 acres
- VMU zoning with public water and public sewer
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three separately configured residences feature private laundry, storage, fireplaces, and substantial paved parking in Falmouth.
Where is this triplex located?
The property is located at 419 Falmouth Road 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: Three‑unit rental property operating since 1992; 5,357 square feet on 0.45 acres; VMU zoning with public water and public sewer
