Duplex with Stone
New
For Sale
$465,000
55 Fern Avenue, Old Orchard Beach, ME 04064
Multi-Family, Old Orchard Beach, ME
Property Size1,385 SF
Lot Size0.07 Acres
Price / SF$335.74
Days on Market2
Property Features for 55 Fern Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Off Street
Patio and Porch features
Patio
Pets allowed
No
Basement
Dirt Floor, Crawl Space
Lot features
Open, Level, Intown, Near Golf Course, Near Public Beach, Near Shopping, Near Turnpike/ Interstate, Shopping Mall, Near Railroad
Standard status
Active
Size
1,385 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3896
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating), Hot Water(Heating), Natural Gas, Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
stone patio
firepit
off-street parking
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Carpet, Wood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Deja Lett
(207) 415-8204
Added: Oct 9
Last Checked: Oct 10 at 1:06AM
MLS# 1683735
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 1920-built duplex contains 1,385 square feet across two apartments: a front two-bedroom unit and a rear one-bedroom unit. The front apartment has a short-term rental history and an off-season tenant in place through May 2027; the rear unit is owner-occupied. Each apartment has a heat pump, and the property also features two full bathrooms, off-street parking, and a stone patio with a firepit. The roof was replaced in 2016.
Set on a 0.07-acre lot, the property is less than a mile from the Pier, the beach, and downtown Old Orchard Beach. It is served by public water and public sewer and is zoned R-2.
Set on a 0.07-acre lot, the property is less than a mile from the Pier, the beach, and downtown Old Orchard Beach. It is served by public water and public sewer and is zoned R-2.
Key Highlights
- Two‑unit property with a 2‑bedroom front apartment and 1‑bedroom rear apartment
- Front unit has a short‑term rental history and an off‑season tenant through May 2027
- 1,385‑square‑foot building on a 0.07‑acre lot
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units combine an established short-term rental history with an off-season tenancy in the front apartment.
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 property with a 2‑bedroom front apartment and 1‑bedroom rear apartment; Front unit has a short‑term rental history and an off‑season tenant through May 2027; 1,385‑square‑foot building on a 0.07‑acre lot
