Ranch Duplex with Private
For Sale
$615,000
607 Granite Street, Yarmouth, ME 04096
Multi-Family, Yarmouth, ME
Property Size1,560 SF
Lot Size0.68 Acres
Price / SF$394.23
Days on Market23
Property Features for 607 Granite Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
RR
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Parking features
Off Street
Patio and Porch features
Deck
Interior features
1st Floor Bedroom, Storage
Basement
Full, Unfinished, Sump Pump
Lot features
Level, Near Turnpike/ Interstate, Near Town, Rural
Standard status
Active
Size
1,560 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6732
Utilities
Sewer type
Private Sewer
Heating system
Baseboard, Oil
Water source
Private
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Wood, Carpet
Building materials
Wood Frame, Wood Siding
Roof type
Metal
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 282-5988
Listed By:
Duncan McGilvery
(207) 994-4433
Added: Jul 31
Changed: Aug 19
Last Checked: Aug 22 at 6:06AM
MLS# 1667844
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 ranch-style duplex at 607 Granite Street offers 1,560 square feet of residential space on a 0.68-acre parcel. The 1965 wood-frame property has wood siding, a metal roof, wood and carpet flooring, two bathrooms, a first-floor bedroom, storage, and a basement. A private deck extends the usable outdoor area, while off-street parking supports the property’s residential configuration.
The property is served by private water and private sewer systems and is heated by oil-fired baseboard equipment. RR zoning applies to the site. Located in Yarmouth, Maine, the duplex provides a straightforward two-unit format with established structural features and practical storage space.
The property is served by private water and private sewer systems and is heated by oil-fired baseboard equipment. RR zoning applies to the site. Located in Yarmouth, Maine, the duplex provides a straightforward two-unit format with established structural features and practical storage space.
Key Highlights
- Duplex with 1,560 square feet of property size
- 0.68‑acre lot in Yarmouth, ME
- RR zoning
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
$27,568
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
4.48%
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%
$551,360
$551.4K
Cap Rate 7%
$393,829
$393.8K
Cap Rate 9%
$306,311
$306.3K
Market Conditions
NOI Build-Up for 1,560 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
$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 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%
$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
NOI $27,568 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$366.4K
$320.6K – $427.5K
NOI $25,647 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$428.8K
$375.2K – $500.2K
NOI $30,014 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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-unit residential property with off-street parking, storage, and a basement on a 0.68-acre parcel.
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: Duplex with 1,560 square feet of property size; 0.68‑acre lot in Yarmouth, ME; RR zoning
