Duplex with Lower-Level
For Sale
$1,995,000
47 Skillin Road, Cumberland, ME 04021
Renovated historic property with separate kitchen, living areas, laundry, and two-bedroom secondary residence.
Property Size4,760 SF
Price / SF$419.12
Days on Market11
Property Features for 47 Skillin Road
General Information
Standard status
Active
Size
4,760 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
hot tub
Building Details
Year Built
1860
Construction
post and beam
Listing Agency:
Legacy Properties Sotheby's International Realty
Listed By:
Heather Shields
(603) 866-2942
Source:
Profoundrealestate
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 26 at 10:00AM
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 Legacy Properties Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1860 post-and-beam duplex combines preserved character with updated residential systems and a flexible two-level layout. The main residence includes expansive living and dining areas beneath cathedral ceilings, exposed beams, skylights, wide-plank floors, a loft-style primary suite, and a kitchen with custom cabinetry, butcher block counters, a center island, and herringbone flooring.
The lower-level ADU has its own entrance, full kitchen, living and dining spaces, two bedrooms, laundry, and views toward the Piscataqua River. Outdoor features include a covered porch, riverside deck, hot tub, and park-like grounds. Improvements include new windows and doors, added insulation, updated electrical, renovated bathrooms, a new garage, a whole-house Generac generator, and a new leach field serving the ADU. The property is suited to multigenerational living, guest accommodations, or separate rental use.
The lower-level ADU has its own entrance, full kitchen, living and dining spaces, two bedrooms, laundry, and views toward the Piscataqua River. Outdoor features include a covered porch, riverside deck, hot tub, and park-like grounds. Improvements include new windows and doors, added insulation, updated electrical, renovated bathrooms, a new garage, a whole-house Generac generator, and a new leach field serving the ADU. The property is suited to multigenerational living, guest accommodations, or separate rental use.
Key Highlights
- 4,760 property size with a duplex configuration and lower‑level ADU
- Built in 1860 as a post‑and‑beam mill property
- ADU includes private entrance, full kitchen, living and dining areas, two bedrooms, and laundry
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
$84,116
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
4.22%
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%
$1,682,320
$1.7M
Cap Rate 7%
$1,201,657
$1.2M
Cap Rate 9%
$934,622
$934.6K
Market Conditions
NOI Build-Up for 4,760 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
$128.5K $27.00/SF
− Vacancy
−$8.4K −$1.76/SF
EGI
$120.2K $25.25/SF
− OpEx
−$36.0K −$7.57/SF
NOI
$84.1K $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%
$1,682,320
Cap Rate 7%
$1,201,657
Cap Rate 9%
$934,622
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,116 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$1.12M
$978.2K – $1.30M
NOI $78,257 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.31M
$1.14M – $1.53M
NOI $91,580 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 04021, ME
6,729
Population
2,428
Households
2.8
Avg Household Size
42
Median Age
70%
College-Educated
99%
High-School Grad
20.5 sq mi
ZIP Area
328
Density / Sq Mi
$145,833
Median Household Income
$70,304
Median Earnings
$506,800
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 - Renovated historic property with separate kitchen, living areas, laundry, and two-bedroom secondary residence.
Where is this duplex located?
The property is located at 47 Skillin Road Cumberland, ME.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 4,760 property size with a duplex configuration and lower‑level ADU; Built in 1860 as a post‑and‑beam mill property; ADU includes private entrance, full kitchen, living and dining areas, two bedrooms, and laundry
