Renovated Duplex with
For Sale
$1,995,000
47 Skillin Road, Cumberland, ME 04021
Multi-Family, Cumberland, ME
Property Size4,760 SF
Lot Size2.45 Acres
Price / SF$419.12
Days on Market10
Property Features for 47 Skillin Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RR2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Basement, Bathroom 3
Security features
Security System
Patio and Porch features
Deck, Patio, Porch
Interior features
Walk-in Closets, Bathtub, Pantry, Shower, Storage, Primary Bedroom w/Bath
Exterior features
Animal Containment System
Basement
Finished, Full, Walk-Out Access, Daylight
Lot features
Well Landscaped, Rolling/ Sloping, Open, Level, Wooded, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
4,760 SF
Lot size
2.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12123
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump
Water source
Private
Water front features
Stream
Water front
1
Amenities
hot tub
Building Details
Year built
1860
Number of units
2
Flooring type
Tile, Wood
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Cape Cod
Additional Structures
Storage
Listing Agency:
Legacy Properties Sotheby's International Realty
(207) 780-8900
Listed By:
Heather Shields
(207) 596-4050
Added: Aug 19
Last Checked: Aug 28 at 4:06PM
MLS# 1676911
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Cape Cod-style duplex dates to 1860 and encompasses 4,760 square feet on 2.45 acres. The principal residence features cathedral ceilings, exposed beams, skylights, wide-plank wood flooring, a loft-like primary suite, and a kitchen with custom cabinetry, butcher block counters, a center island, and herringbone flooring. A private lower-level ADU includes its own entrance, full kitchen, living and dining areas, two bedrooms, laundry, and river views.
Renovations and additions include new windows and doors, additional insulation, electrical updates, renovated bathrooms, a covered porch, custom cabinetry, a new garage, a whole-house Generac generator, and a new leach field serving the ADU. Exterior amenities include a porch, riverside deck, hot tub, and park-like grounds adjoining the Piscataqua River. The property uses private water and septic systems and is zoned RR2.
Renovations and additions include new windows and doors, additional insulation, electrical updates, renovated bathrooms, a covered porch, custom cabinetry, a new garage, a whole-house Generac generator, and a new leach field serving the ADU. Exterior amenities include a porch, riverside deck, hot tub, and park-like grounds adjoining the Piscataqua River. The property uses private water and septic systems and is zoned RR2.
Key Highlights
- 4,760‑square‑foot duplex on 2.45 acres
- Lower‑level ADU has a private entrance, full kitchen, two bedrooms, laundry, and river views
- Originally built in 1860 with post‑and‑beam construction and Cape Cod architecture
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
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 - Historic post-and-beam residence with a separate lower-level apartment, updated interiors, and outdoor spaces beside the Piscataqua River.
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‑square‑foot duplex on 2.45 acres; Lower‑level ADU has a private entrance, full kitchen, two bedrooms, laundry, and river views; Originally built in 1860 with post‑and‑beam construction and Cape Cod architecture
