Building Details

Building Size 1,560 SF

Year Built 1965

Buildings 1

Listing Agency: Coldwell Banker Realty

Listed By: Duncan McGilvery Show Phone

Source: Oceanviewproperties

Added: Jun 18 Changed: Oct 30 Last Checked: Oct 30 at 2:16AM

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Investment Insights

Based on property information with market context.

This duplex contains two residences, each with 780 square feet of living space, two bedrooms, and one full bath. The building dates to 1965 and has been renovated over the years. A whole-house generator serves the property, while the full basement remains unfinished and the 0.68-acre lot includes a yard.

The property is on Granite Street in Yarmouth, near the Freeport line. Shopping, dining, and other amenities in Freeport are minutes away; highway access is described as easy, and Portland is 20 minutes away.

Key Highlights

• Two units, each with 780 square feet, two bedrooms, and one full bath
• 0.68‑acre lot with a yard
• Whole‑house generator

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$27,568

Cap Rate

4.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$551,360 $551.4K

Cap Rate 7%

$393,829 $393.8K

Cap Rate 9%

$306,311 $306.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,560 SF

Gross rent

$42.1K $27.00/SF

− Vacancy

−$2.7K −$1.76/SF

EGI

$39.4K $25.25/SF

− OpEx

−$11.8K −$7.57/SF

NOI

$27.6K $17.67/SF

Area

Cumberland County, ME

Vacancy

6.50%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$551,360

Cap Rate 7%

$393,829

Cap Rate 9%

$306,311

Alternative Uses

Best Use

Multifamily LT 5

$393.8K

$344.6K – $459.5K (±1% cap)

NOI $27,568 @ 7.0% cap · market cap 4.48%

Second Best

Apartment 5plus

$366.4K

$320.6K – $427.5K (±1% cap)

NOI $25,647 @ 7.0% cap · market cap 4.17%

Theoretical Best

Office A

$428.8K

$375.2K – $500.2K (±1% cap)

NOI $30,014 @ 7.0% cap · market cap 4.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Explore this area Business Placement

Demographics for 04096, ME

8,990

Population

3,625

Households

2.5

Avg Household Size

45

Median Age

69%

College-Educated

99%

High-School Grad

13.4 sq mi

ZIP Area

671

Density / Sq Mi

$107,911

Median Household Income

$50,848

Median Earnings

$1,709

Median Rent

$572,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate residences each provide two bedrooms and a full bath, with a shared unfinished basement and yard.

Where is this duplex located?

The property is located at 607 Granite Street Yarmouth, ME.

What is the asking price?

The asking price for this property is $615,000.

What are key features of this property?

This property features: Two units, each with 780 square feet, two bedrooms, and one full bath; 0.68‑acre lot with a yard; Whole‑house generator