Ranch-Style Duplex on
For Sale
$380,000
445 Pine Tree Road, Levant, ME 04456
Fully occupied two-unit property with separate residences, shared well service, private septic systems, and individual storage sheds.
Property Size2,100 SF
Price / SF$180.95
Days on Market167
Property Features for 445 Pine Tree Road
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Multi-Family
Zoning
Rural Residential
Taxes and HOA fees
Annual Taxes
$3,476
Amenities
Radiant, Hot Water
1
None, Not Applicable
Tile
No
Yes
Laundry - 1st Floor, Main Level, Washer Hookup
1st Floor Bedroom, Bathtub, One-Floor Living, Pantry, Storage
Concrete Perimeter, Slab
Level Entry
2.00
2
Shingle
Shed(s)
Vinyl Siding, Wood Frame
Building Details
Year Built
2009
Units
2
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Venise Bard
(207) 942-6711
Source:
Compass
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 30 at 6:18AM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
Located at 445 Pine Tree Road, this 2,100-square-foot duplex was built in 2009 and contains two single-level residences. The units include one two-bedroom layout and one three-bedroom layout, with open kitchen, dining, and living areas, spacious bedrooms, large closets, full bathrooms with tub and shower combinations, and washer/dryer hookups. Radiant hot-water heat serves both units, and each residence has its own storage shed.
The property encompasses 1.82 acres in Levant and is zoned Rural Residential. Both units are occupied by long-term tenants. The property uses a shared well and private septic systems; the septic design for 445 is for four bedrooms. The owner is willing to sell this property together with 447 Pine Tree Road or separately, with a shared-well deed amendment to be created for a separate sale.
The property encompasses 1.82 acres in Levant and is zoned Rural Residential. Both units are occupied by long-term tenants. The property uses a shared well and private septic systems; the septic design for 445 is for four bedrooms. The owner is willing to sell this property together with 447 Pine Tree Road or separately, with a shared-well deed amendment to be created for a separate sale.
Key Highlights
- 2,100 SF duplex on 1.82 acres in Levant
- Built in 2009 with one 2 BR unit and one 3 BR unit
- Both residences are fully occupied by long‑term tenants
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
$19,245
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
5.06%
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%
$384,900
$384.9K
Cap Rate 7%
$274,929
$274.9K
Cap Rate 9%
$213,833
$213.8K
Market Conditions
NOI Build-Up for 2,100 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
$29.0K $13.80/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$27.5K $13.09/SF
− OpEx
−$8.2K −$3.93/SF
NOI
$19.2K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$384,900
Cap Rate 7%
$274,929
Cap Rate 9%
$213,833
Alternative Uses
Best Use
Multifamily LT 5
$274.9K
$240.6K – $320.8K
NOI $19,245 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$252.9K
$221.3K – $295.0K
NOI $17,701 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$678.2K
$593.5K – $791.3K
NOI $47,477 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 04456, ME
2,940
Population
1,299
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
95%
High-School Grad
30.1 sq mi
ZIP Area
98
Density / Sq Mi
$75,917
Median Household Income
$41,689
Median Earnings
$1,240
Median Rent
$244,800
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 - Fully occupied two-unit property with separate residences, shared well service, private septic systems, and individual storage sheds.
Where is this duplex located?
The property is located at 445 Pine Tree Road Levant, ME.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 2,100 SF duplex on 1.82 acres in Levant; Built in 2009 with one 2 BR unit and one 3 BR unit; Both residences are fully occupied by long‑term tenants
