46-48 Overfar Way, Hermon, ME 04401

Building Details

Year Built 1989 More

Buildings 1 More

Stories 2 More

Listed By: Doug Schauf · License ME BA917314 Show Phone

Source: Makemaineyourhome

Added: Nov 10 Last Checked: Nov 10 at 2:18PM

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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 Doug Schauf

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Investment Insights

Based on property information with market context.

This 2,842-square-foot duplex in Hermon, Maine, contains two two-story residences with separate deeds and tax treatment. The first residence has 1,600 square feet, two bedrooms, a kitchen, an open dining and living area, an office, an additional downstairs room, and a one-car garage. The second spans 1,242 square feet and includes two bedrooms, two bathrooms, a kitchen, an open dining and living area, a spare room or office, and garage space. A two-bay garage area sits between the residences, with an interior doorway and hall connecting the units. Built in 1989, the property is configured for separate occupancy.

Key Highlights

• Two residences totaling 2,842 square feet
• Separate deeds and tax treatment for the two units
• 1,600‑square‑foot residence with two bedrooms, office, and one‑car garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,955

Cap Rate

8.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$479,100 $479.1K

Cap Rate 7%

$342,214 $342.2K

Cap Rate 9%

$266,167 $266.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,842 SF

Gross rent

$46.0K $16.20/SF

− Vacancy

−$2.5K −$0.87/SF

EGI

$43.6K $15.33/SF

− OpEx

−$19.6K −$6.90/SF

NOI

$24.0K $8.43/SF

Area

Penobscot County, ME

Vacancy

5.40%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$479,100

Cap Rate 7%

$342,214

Cap Rate 9%

$266,167

Alternative Uses

Best Use

Multifamily LT 5

$372.1K

$325.6K – $434.1K (±1% cap)

NOI $26,045 @ 7.0% cap · market cap 9.47%

Second Best

Apartment 5plus

$342.2K

$299.4K – $399.3K (±1% cap)

NOI $23,955 @ 7.0% cap · market cap 8.71%

Theoretical Best

Office A

$917.9K

$803.2K – $1.07M (±1% cap)

NOI $64,252 @ 7.0% cap · market cap 23.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 04401, ME

44,608

Population

20,932

Households

2.1

Avg Household Size

40

Median Age

37%

College-Educated

96%

High-School Grad

100.1 sq mi

ZIP Area

446

Density / Sq Mi

$66,136

Median Household Income

$40,863

Median Earnings

$1,048

Median Rent

$229,600

Median Home Value

Market

Average Price Trend$/SF for Duplexes in Penobscot County, ME

$169 Jul

$157 Aug

$149 Sep

$146 Oct

Properties on Market for Duplexes in Penobscot County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two separately deeded residences offer a mix of two-story living areas and dedicated garage space.

Where is this duplex located?

The property is located at 46-48 Overfar Way Hermon, ME.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: Two residences totaling 2,842 square feet; Separate deeds and tax treatment for the two units; 1,600‑square‑foot residence with two bedrooms, office, and one‑car garage