Two-Unit Duplex with
For Sale
$625,000
57 Hill Street, Saco, ME 04072
Two residential units offer refreshed interiors and convenient access to downtown Saco.
Property Size1,890 SF
Price / SF$330.69
Days on Market172
Property Features for 57 Hill Street
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Multi-Family
Zoning
R-3
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,070
Amenities
front porch
backyard
Hot Water, Forced Air
2
Bulkhead, Unfinished
Vinyl, Tile, Carpet
No
Yes
Storage
2.00
Shingle
Vinyl Siding, Wood Frame
Building Details
Year Built
1900
Buildings
1
Units
2
Listing Agency:
Keller Williams Realty
(207) 831-9157
Listed By:
Anne-Marie Mckenzie
(207) 831-9157
Source:
Compass
Added: Mar 13
Changed: Aug 30
Last Checked: Aug 30 at 11:21PM
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
Investment Insights
Based on property information with market context.
This 1,890-square-foot duplex, built in 1900, contains two apartments, each with two bedrooms and one bathroom. The property is configured for residential income use and carries R-3 zoning. Recent improvements include new flooring in the first-floor living room, kitchen, hallway, and bathroom, along with new doors, a composite-deck front porch, and a rebuilt rear staircase. The building also provides unfinished bulkhead-accessed space and storage.
The property includes a sizable backyard and is located within walking distance of downtown Saco. Interstate access is convenient, and the beach is nearby. Exterior features include vinyl siding, wood framing, and shingle roofing.
The property includes a sizable backyard and is located within walking distance of downtown Saco. Interstate access is convenient, and the beach is nearby. Exterior features include vinyl siding, wood framing, and shingle roofing.
Key Highlights
- Two 2‑bedroom, 1‑bathroom apartments
- 1,890 SF duplex built in 1900
- R‑3 zoning for residential use
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
$31,994
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
5.12%
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%
$639,880
$639.9K
Cap Rate 7%
$457,057
$457.1K
Cap Rate 9%
$355,489
$355.5K
Market Conditions
NOI Build-Up for 1,890 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
$48.1K $25.44/SF
− Vacancy
−$2.4K −$1.26/SF
EGI
$45.7K $24.18/SF
− OpEx
−$13.7K −$7.25/SF
NOI
$32.0K $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 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%
$639,880
Cap Rate 7%
$457,057
Cap Rate 9%
$355,489
Alternative Uses
Best Use
Multifamily LT 5
$457.1K
$399.9K – $533.2K
NOI $31,994 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$417.3K
$365.1K – $486.8K
NOI $29,209 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$599.1K
$524.2K – $699.0K
NOI $41,938 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer refreshed interiors and convenient access to downtown Saco.
Where is this duplex located?
The property is located at 57 Hill Street Saco, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom apartments; 1,890 SF duplex built in 1900; R‑3 zoning for residential use
