Two-Unit Duplex on
For Sale
$450,000
Pending
44 Memory Lane, Arundel, ME 04046
Two residential units offer separate utilities, functional layouts, and one-floor living features.
Property Size1,760 SF
Lot Size7.83 Acres
Days on Market340
Property Features for 44 Memory Lane
General Information
Standard status
Pending
Size
1,760 SF
Lot size
7.83 Acres
Property subtype
Multi-Family
Zoning
R-3
Additional Details
Subdividable
Yes
Taxes and HOA fees
Annual Taxes
$3,079
Amenities
Hot Water, Baseboard
2
None, Not Applicable
Vinyl, Tile, Laminate
No
Yes
Washer Hookup
In-Law Apartment, 1st Floor Bedroom, Bathtub, One-Floor Living, Storage
Concrete Perimeter
2.00
Shingle
Vinyl Siding, Wood Frame
Building Details
Year Built
1996
Units
2
Tenancy
Multi
Listing Agency:
The Maine Real Estate Experience
(207) 239-1585
Listed By:
Paula Christensen
(207) 239-1585
Source:
Compass
Added: Sep 27, 2025
Changed: Aug 31
Last Checked: Aug 30 at 3:10AM
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 The Maine Real Estate Experience
Investment Insights
Based on property information with market context.
This duplex includes 1,760 square feet arranged as two residential units. Each unit contains two bedrooms and one bathroom, with separate utilities supporting independent operation. Interior features include baseboard hot water, vinyl, tile and laminate finishes, washer hookups, storage, and first-floor living elements. The building has a concrete perimeter foundation, vinyl siding, wood-frame construction, and a shingle exterior.
Set on 7.83 acres at 44 Memory Lane in Arundel, Maine, the property is zoned R-3 and was built in 1996. The expansive parcel provides outdoor space around the two-unit building, while the unit configuration supports rental, multigenerational, or owner-occupied use as described for the property.
Set on 7.83 acres at 44 Memory Lane in Arundel, Maine, the property is zoned R-3 and was built in 1996. The expansive parcel provides outdoor space around the two-unit building, while the unit configuration supports rental, multigenerational, or owner-occupied use as described for the property.
Key Highlights
- Two‑unit duplex with 1,760 SF of total building area
- Each unit includes 2 bedrooms and 1 bathroom
- Set on a 7.83‑acre parcel in Arundel, ME
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
$29,794
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
6.62%
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%
$595,880
$595.9K
Cap Rate 7%
$425,629
$425.6K
Cap Rate 9%
$331,044
$331.0K
Market Conditions
NOI Build-Up for 1,760 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
$44.8K $25.44/SF
− Vacancy
−$2.2K −$1.26/SF
EGI
$42.6K $24.18/SF
− OpEx
−$12.8K −$7.25/SF
NOI
$29.8K $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 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%
$595,880
Cap Rate 7%
$425,629
Cap Rate 9%
$331,044
Alternative Uses
Best Use
Multifamily LT 5
$425.6K
$372.4K – $496.6K
NOI $29,794 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$388.6K
$340.0K – $453.3K
NOI $27,200 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$557.9K
$488.2K – $650.9K
NOI $39,054 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 04046, ME
7,893
Population
4,740
Households
1.7
Avg Household Size
51
Median Age
41%
College-Educated
98%
High-School Grad
44.4 sq mi
ZIP Area
178
Density / Sq Mi
$99,861
Median Household Income
$43,000
Median Earnings
$1,250
Median Rent
$559,900
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?
Duplex - Two residential units offer separate utilities, functional layouts, and one-floor living features.
Where is this duplex located?
The property is located at 44 Memory Lane Arundel, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,760 SF of total building area; Each unit includes 2 bedrooms and 1 bathroom; Set on a 7.83‑acre parcel in Arundel, ME
