Duplex with Stone
For Sale
$465,000
55 Fern Avenue, Old Orchard Beach, ME 04064
The front two-bedroom unit has short-term rental history, while the rear one-bedroom is owner-occupied.
Property Size1,385 SF
Price / SF$335.74
Days on Market20
Property Features for 55 Fern Avenue
General Information
Standard status
Active
Size
1,385 SF
Property subtype
Multi Family Home
Zoning
R-2
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,896
Amenities
stone patio
firepit
Building Details
Building Size
1,385 SF
Year Built
1920
Buildings
1
Stories
2
Units
2
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Deja Lett
(207) 415-8204
Source:
Hayesrealestate
Added: Oct 9
Changed: Oct 25
Last Checked: Oct 26 at 4:01AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 1,385-square-foot duplex contains two full baths and separate two-bedroom and one-bedroom units. The front unit has a history of short-term rentals and an off-season tenant in place through May 2027; the rear unit is owner-occupied. Heat pumps serve both units, and the roof dates to 2016. Outdoor features include a stone patio and firepit, with off-street parking on the property.
The property is located less than a mile from the Pier, the beach, and downtown Old Orchard Beach. Zoning is R-2.
The property is located less than a mile from the Pier, the beach, and downtown Old Orchard Beach. Zoning is R-2.
Key Highlights
- Two‑unit layout: front 2‑bedroom and rear 1‑bedroom
- 1,385 square feet with 2 full baths
- Front unit has short‑term rental history and an off‑season tenant through May 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,446
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,920
$468.9K
Cap Rate 7%
$334,943
$334.9K
Cap Rate 9%
$260,511
$260.5K
Market Conditions
NOI Build-Up for 1,385 SF
Gross rent
$35.2K $25.44/SF
− Vacancy
−$1.7K −$1.26/SF
EGI
$33.5K $24.18/SF
− OpEx
−$10.0K −$7.25/SF
NOI
$23.4K $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 Rate 5%
$468,920
Cap Rate 7%
$334,943
Cap Rate 9%
$260,511
Alternative Uses
Best Use
Multifamily LT 5
$334.9K
$293.1K – $390.8K
NOI $23,446 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$305.8K
$267.6K – $356.7K
NOI $21,404 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$439.0K
$384.2K – $512.2K
NOI $30,733 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
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Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The front two-bedroom unit has short-term rental history, while the rear one-bedroom is owner-occupied.
Where is this duplex located?
The property is located at 55 Fern Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑unit layout: front 2‑bedroom and rear 1‑bedroom; 1,385 square feet with 2 full baths; Front unit has short‑term rental history and an off‑season tenant through May 2027
