Single-Story Three-Bedroom
For Sale
$499,000
4648 46-48 Glenwood Ave, Saco, ME 04072
Two matching residences offer private laundry rooms, individual carports, and access to a wooded shared backyard.
Property Size1,942 SF
Price / SF$256.95
Days on Market10
Property Features for 4648 46-48 Glenwood Ave
General Information
Standard status
Active
Size
1,942 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
dedicated laundry room
shared backyard
Building Details
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty
(207) 239-6606
Listed By:
Alexandru Pirleci
Source:
Soldbymichaelthomas
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 11:38AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This single-story duplex contains 1,942 SF and was built in 1974. Each residence includes three bedrooms, one full bathroom, a kitchen with dining space, a living room, and a dedicated laundry room. The layout supports two separate households within one property.
Both units have their own carport, while the shared backyard borders expansive woods. The duplex sits on a cul-de-sac in Saco with access to U.S. Route One and the Maine Turnpike. The Saco River, local nature preserves, area beaches, and nearby amenities are also within the surrounding area.
Both units have their own carport, while the shared backyard borders expansive woods. The duplex sits on a cul-de-sac in Saco with access to U.S. Route One and the Maine Turnpike. The Saco River, local nature preserves, area beaches, and nearby amenities are also within the surrounding area.
Key Highlights
- Two‑unit duplex with 1,942 SF
- Each unit includes 3 bedrooms and 1 full bath
- Dedicated laundry room in each residence
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
$32,875
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
6.59%
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%
$657,500
$657.5K
Cap Rate 7%
$469,643
$469.6K
Cap Rate 9%
$365,278
$365.3K
Market Conditions
NOI Build-Up for 1,942 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
$49.4K $25.44/SF
− Vacancy
−$2.4K −$1.26/SF
EGI
$47.0K $24.18/SF
− OpEx
−$14.1K −$7.25/SF
NOI
$32.9K $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%
$657,500
Cap Rate 7%
$469,643
Cap Rate 9%
$365,278
Alternative Uses
Best Use
Multifamily LT 5
$469.6K
$410.9K – $547.9K
NOI $32,875 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$428.7K
$375.2K – $500.2K
NOI $30,012 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$615.6K
$538.7K – $718.2K
NOI $43,092 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
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 matching residences offer private laundry rooms, individual carports, and access to a wooded shared backyard.
Where is this duplex located?
The property is located at 4648 46-48 Glenwood Ave Saco, ME.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,942 SF; Each unit includes 3 bedrooms and 1 full bath; Dedicated laundry room in each residence
