Historic Multifamily
For Sale
$250,000
54 Bay Street, Winslow, ME 04901
1860-built property with a barn, woodwork, and an in-law apartment.
Property Size2,066 SF
Price / SF$121.01
Days on Market130
Property Features for 54 Bay Street
General Information
Standard status
Active
Size
2,066 SF
Property subtype
Multi-Family
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$3,447
Amenities
Multi-Level
Heat Pump
Radiator, Hot Water, Heat Pump, Baseboard
2
Full, Unfinished
Laminate, Carpet
1st Floor Bedroom, Attic, In-Law Apartment, Laundry - 1st Floor
Yes
Laundry - 1st Floor, Main Level
In-Law Apartment, 1st Floor Bedroom, Attic
Block, Granite, Brick/Mortar
2.50
3
2.10
Shingle
1
Bulkhead2, Interior
1 Car, Direct Entry to Living
Barn(s)
Wood Siding, Wood Frame
Glassed-in Porch
Building Details
Year Built
1860
Units
2
Listing Agency:
Coldwell Banker Plourde Real Estate
(207) 441-8058
Listed By:
Kimberly Bard · License #BA926736
(207) 441-8058
Source:
Compass
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 9:17PM
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 Coldwell Banker Plourde Real Estate
Investment Insights
Based on property information with market context.
Built in 1860, this multifamily property combines a primary residence with a separate in-law apartment and a spacious barn. Interior details include woodwork, multiple levels, a first-floor bedroom, and first-floor laundry. Heating features include a heat pump and radiator, hot water, and baseboard systems. The property also includes a glassed-in porch and an attic, adding to its varied configuration.
Located at 54 Bay Street in Winslow, the property is near Fort Halifax, local parks, shopping, dining, and other amenities. The combination of a main home, additional living space, and barn creates a flexible arrangement for residential use and guest accommodations.
Located at 54 Bay Street in Winslow, the property is near Fort Halifax, local parks, shopping, dining, and other amenities. The combination of a main home, additional living space, and barn creates a flexible arrangement for residential use and guest accommodations.
Key Highlights
- Built in 1860
- Main home with in‑law apartment
- Spacious barn included
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
$20,126
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
8.05%
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%
$402,520
$402.5K
Cap Rate 7%
$287,514
$287.5K
Cap Rate 9%
$223,622
$223.6K
Market Conditions
NOI Build-Up for 2,066 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
$37.2K $18.00/SF
− Vacancy
−$595 −$0.29/SF
EGI
$36.6K $17.71/SF
− OpEx
−$16.5K −$7.97/SF
NOI
$20.1K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$402,520
Cap Rate 7%
$287,514
Cap Rate 9%
$223,622
Alternative Uses
Best Use
Apartment 5plus
$287.5K
$251.6K – $335.4K
NOI $20,126 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.08M
$2.70M – $3.60M
NOI $215,759 @ 7.0% cap · market cap 86.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
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?
Multifamily property - 1860-built property with a barn, woodwork, and an in-law apartment.
Where is this multifamily property located?
The property is located at 54 Bay Street Winslow, ME.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Built in 1860; Main home with in‑law apartment; Spacious barn included
