Two-Unit Duplex with Sun
For Sale
$530,000
5 Oak Place, Biddeford, ME 04005
The vacant upper residence includes recent paint, flooring, and fixture updates, while both units have separate laundry hookups.
Property Size2,142 SF
Price / SF$247.43
Days on Market230
Property Features for 5 Oak Place
General Information
Standard status
Active
Size
2,142 SF
Property subtype
Multi-Family
Zoning
R2
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$51,000
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,956
Amenities
separate laundry hookups
fenced front yard
fenced back yard
sun porch
Zoned, Hot Water, Forced Air, Direct Vent Heater, Baseboard
2
Interior, Full, Unfinished
Vinyl, Carpet
No
Yes
Laundry - 1st Floor, Upper Level, Main Level, Washer Hookup
1st Floor Bedroom, One-Floor Living, Other, Shower, Storage
2.00
Shingle
Vinyl Siding, Wood Frame
Building Details
Year Built
1900
Units
2
Tenancy
Single
Listing Agency:
Maine Real Estate Co
(207) 229-5449
Listed By:
Bailey Pate · License #DB927429
(207) 229-5449
Source:
Compass
Added: Jan 13
Changed: Aug 29
Last Checked: Aug 30 at 11:46PM
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 Maine Real Estate Co
Investment Insights
Based on property information with market context.
This two-unit duplex contains two three-bedroom, one-bath residences with separate laundry hookups and vinyl windows. The first-floor home is occupied under a month-to-month rental agreement and has single-level living with hot water baseboard heat. The upper unit is vacant and includes fresh interior paint, some new flooring, new fixtures, and a sun porch. Its heating includes a Rinnai direct-vent heater with electric baseboard backup.
The property has a deep paved driveway, off-street parking, a fenced front yard, and a separately fenced backyard. Major work includes sewer line replacement approximately five years ago, roof replacement approximately seven years ago, and lead paint abatement completed in 2014. Built in 1900 and zoned R2, the duplex is at 5 Oak Place in Biddeford, near downtown restaurants, breweries, shops, the riverwalk, and arts and dining venues, with access to the Maine Turnpike, nearby beaches, and the University of New England.
The property has a deep paved driveway, off-street parking, a fenced front yard, and a separately fenced backyard. Major work includes sewer line replacement approximately five years ago, roof replacement approximately seven years ago, and lead paint abatement completed in 2014. Built in 1900 and zoned R2, the duplex is at 5 Oak Place in Biddeford, near downtown restaurants, breweries, shops, the riverwalk, and arts and dining venues, with access to the Maine Turnpike, nearby beaches, and the University of New England.
Key Highlights
- Two three‑bedroom, one‑bath units with separate laundry hookups
- Upper unit is vacant and has fresh paint, some new flooring, new fixtures, and a sun porch
- First‑floor unit is occupied under a month‑to‑month Rental Agreement
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
$36,260
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
6.84%
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%
$725,200
$725.2K
Cap Rate 7%
$518,000
$518.0K
Cap Rate 9%
$402,889
$402.9K
Market Conditions
NOI Build-Up for 2,142 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
$54.5K $25.44/SF
− Vacancy
−$2.7K −$1.26/SF
EGI
$51.8K $24.18/SF
− OpEx
−$15.5K −$7.25/SF
NOI
$36.3K $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%
$725,200
Cap Rate 7%
$518,000
Cap Rate 9%
$402,889
Alternative Uses
Best Use
Multifamily LT 5
$518.0K
$453.3K – $604.3K
NOI $36,260 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$472.9K
$413.8K – $551.7K
NOI $33,103 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$679.0K
$594.1K – $792.2K
NOI $47,530 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
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 - The vacant upper residence includes recent paint, flooring, and fixture updates, while both units have separate laundry hookups.
Where is this duplex located?
The property is located at 5 Oak Place Biddeford, ME.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two three‑bedroom, one‑bath units with separate laundry hookups; Upper unit is vacant and has fresh paint, some new flooring, new fixtures, and a sun porch; First‑floor unit is occupied under a month‑to‑month Rental Agreement
