Duplex with Private
For Sale
$459,900
501 Main Street, Sanford, ME 04083
Both residences are vacant and include laundry hookups, with updated kitchens, baths, electrical, and plumbing.
Property Size2,637 SF
Price / SF$174.40
Days on Market203
Property Features for 501 Main Street
General Information
Standard status
Active
Size
2,637 SF
Property subtype
Multi Family Home
Zoning
Urban
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,415
Amenities
in-unit laundry hookups
Building Details
Building Size
2,637 SF
Year Built
1900
Buildings
1
Stories
3
Units
2
Listing Agency:
www.HomeZu.com
Listed By:
Jason Saphire · License #0818954
(877) 249-5478
Source:
Amerorealty
Added: Apr 13
Changed: Oct 31
Last Checked: Oct 31 at 2:24PM
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 www.HomeZu.com
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Investment Insights
Based on property information with market context.
This 2,637-square-foot duplex, built in 1900, has two vacant units and private garages for both residences. The first-floor apartment offers 2 bedrooms, 1 bath, and a sunroom. The upper apartment spans the second and third floors and includes 4 bedrooms, 1 bath, and a bonus room. Each unit has laundry hookups and off-street parking. Renovations include refreshed kitchens and bathrooms, electrical and plumbing updates, and new flooring; the first-floor unit also has refinished hardwood floors.
The property is on a corner lot at 501 Main Street in Sanford, Maine. Shops, cafes, and trails are within walking distance, and the surrounding village has dining and community events. Zoning is Urban.
The property is on a corner lot at 501 Main Street in Sanford, Maine. Shops, cafes, and trails are within walking distance, and the surrounding village has dining and community events. Zoning is Urban.
Key Highlights
- 2,637‑square‑foot duplex built in 1900
- Two vacant units, each with a private garage and laundry hookups
- First‑floor unit: 2 bedrooms, 1 bath, and a sunroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,753
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,060
$815.1K
Cap Rate 7%
$582,186
$582.2K
Cap Rate 9%
$452,811
$452.8K
Market Conditions
NOI Build-Up for 2,637 SF
Gross rent
$78.2K $29.64/SF
− Vacancy
−$4.1K −$1.54/SF
EGI
$74.1K $28.10/SF
− OpEx
−$33.3K −$12.64/SF
NOI
$40.8K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,060
Cap Rate 7%
$582,186
Cap Rate 9%
$452,811
Alternative Uses
Best Use
Multifamily LT 5
$637.7K
$558.0K – $744.0K
NOI $44,640 @ 7.0% cap · market cap 9.71%
Second Best
Apartment 5plus
$582.2K
$509.4K – $679.2K
NOI $40,753 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$835.9K
$731.4K – $975.2K
NOI $58,514 @ 7.0% cap · market cap 12.72%
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
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 04083, ME
4,699
Population
2,202
Households
2.1
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
470
Density / Sq Mi
$81,299
Median Household Income
$52,832
Median Earnings
$1,210
Median Rent
$249,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant and include laundry hookups, with updated kitchens, baths, electrical, and plumbing.
Where is this duplex located?
The property is located at 501 Main Street Sanford, ME.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 2,637‑square‑foot duplex built in 1900; Two vacant units, each with a private garage and laundry hookups; First‑floor unit: 2 bedrooms, 1 bath, and a sunroom
