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    Spacious Two-Unit Property Near Village Title is generated by Realmo AI

    56 Yarmouth Road, Gray, ME 04039

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    Claim this Listing
    New
    For Sale
    $679,900

    MULTI_FAMILY - Colonial - Gray, ME

    Property size:
    2,793 SF
    Lot size:
    0.75 Acres
    Price / SF:
    $243/SF
    Added:
    May 29, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 1 at 9:06 am

    Property Features for 56 Yarmouth Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Village Center
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Basement
    Parking features
    Heated
    Patio and Porch features
    Porch, Deck
    Interior features
    1st Floor Primary Bedroom w/Bath, Storage
    Basement
    Unfinished, Finished, Full
    Standard status
    Active
    Size
    2,793 SF
    Lot size
    0.75 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5506

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil, Propane (Heating), Hot Water(Heating), Baseboard
    Water source
    Public

    Building Details

    Year built
    1945
    Number of units
    2
    Flooring type
    Wood, Tile, Carpet
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Colonial
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Matthew DiBiase

    Listing agent Matthew DiBiase

    Listing office Landing Real Estate 780 Broadway, Portland, ME

    Listing date May 29, 2026

    MLS# 1664311 Listing URL

    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.

    HighLights

    • Two‑unit property ideal for owner‑occupants, multi‑generational living, or investment.
    • Main unit features a private primary suite with jacuzzi tub and office area.
    • Stunning family room with cathedral ceilings and abundant natural light, opens to a private back deck.
    • Detached, heated 2‑car garage with ample storage space above.
    • Second unit includes a private second‑floor deck overlooking the backyard.
    • Conveniently located minutes from the village center, downtown amenities, shopping, and dining.

    Overview

    This two-unit property offers comfort and privacy, suitable for owner-occupants, multi-generational living, or investment. The main unit includes 3 bedrooms, featuring a primary suite with a jacuzzi tub and office area. The family room has cathedral ceilings and abundant natural light and opens to a private back deck. The open kitchen also provides direct access to the outdoor entertaining area. A living room, 2 additional bedrooms, a full bath, and a half bath complete the main unit. The finished basement offers potential for additional living space, a home office, gym, or recreation area. The second-floor unit features an open-concept kitchen, living, and dining area, along with 2 bedrooms and a full bath. It also has access to a private second-floor deck overlooking the backyard. A detached 2-car heated garage includes storage space above. The property has a large private backyard suitable for entertaining, gardening, or relaxing. Located minutes from the village center, downtown amenities, shopping, and dining, the property is situated in Gray, Maine, on a 0.75-acre lot. The property has 2793 square feet of living space and is located in Cumberland County. The property is zoned Village Center.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $75.4k $27.00
    − Vacancy −$4.9k −$1.76
    EGI $70.5k $25.25
    − OpEx −$21.2k −$7.57
    NOI $49.4k $17.67
    2,793 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $705.1K
    $617.0K – $822.6K (±1% cap)
    NOI $49,356 @ 7.0% cap · market cap 7.26%
    Second Best
    Apartment 5plus
    $656.0K
    $574.0K – $765.3K (±1% cap)
    NOI $45,919 @ 7.0% cap · market cap 6.75%
    Theoretical Best
    Office A
    $767.7K
    $671.7K – $895.6K (±1% cap)
    NOI $53,736 @ 7.0% cap · market cap 7.90%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gray
    County
    Cumberland
    State
    Maine
    Longitude
    -70.319885
    Latitude
    43.885884

    FAQs

    What type of property is this?
    Duplex - Versatile two-unit property with investment potential near village center.
    Where is this duplex located?
    The property is located at 56 Yarmouth Road Gray, ME.
    What is the asking price?
    The asking price for this property is $679,900.
    What are key features of this property?
    This property features: Two‑unit property ideal for owner‑occupants, multi‑generational living, or investment.; Main unit features a **private primary suite with jacuzzi tub and office area.**; **Stunning family room with cathedral ceilings and abundant natural light**, opens to a private back deck.
    (207) 775-7653
    We can help!
    Listing Contact
    Matthew DiBiase
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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