Duplex with Detached
For Sale
$799,000
62 Evergreen Avenue, Old Orchard Beach, ME 04064
Three residences offer a mix of owner occupancy and established seasonal and year-round rental use.
Property Size3,931 SF
Price / SF$203.26
Days on Market177
Property Features for 62 Evergreen Avenue
General Information
Standard status
Active
Size
3,931 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
R-2
Units
Unit Mix
2 x 2BR (duplex units), 1 x 2BR (cottage)
Multifamily Units
3
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,602
Amenities
modern kitchens
newer appliances
in-unit washers and dryers
landscaped fenced backyard
spacious patio
outdoor fireplace
hot tub
Building Details
Building Size
3,931 SF
Year Built
1900
Buildings
2
Units
3
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Sonja Nielsen
(207) 650-2729
Source:
Amerorealty
Added: May 5
Changed: Oct 26
Last Checked: Oct 26 at 2:10PM
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 EXP Realty
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Investment Insights
Based on property information with market context.
The property comprises a duplex with two updated two-bedroom apartments and a separate detached cottage with two bedrooms. The apartments have modern kitchens, newer appliances, and in-unit washers and dryers. The cottage has been used for summer vacation stays and winter rentals from October through May. The property totals 3,931 square feet and was built in 1900; zoning is R-2.
A fenced backyard includes landscaping, a patio, an outdoor fireplace, and a hot tub. Off-street parking accommodates up to six vehicles. The address is within walking distance of the beach, restaurants, shops, and entertainment in Old Orchard Beach.
A fenced backyard includes landscaping, a patio, an outdoor fireplace, and a hot tub. Off-street parking accommodates up to six vehicles. The address is within walking distance of the beach, restaurants, shops, and entertainment in Old Orchard Beach.
Key Highlights
- Two updated two‑bedroom apartments plus a detached two‑bedroom cottage
- 3,931 square feet; built in 1900
- R‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,545
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,330,900
$1.3M
Cap Rate 7%
$950,643
$950.6K
Cap Rate 9%
$739,389
$739.4K
Market Conditions
NOI Build-Up for 3,931 SF
Gross rent
$100.0K $25.44/SF
− Vacancy
−$4.9K −$1.26/SF
EGI
$95.1K $24.18/SF
− OpEx
−$28.5K −$7.25/SF
NOI
$66.5K $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%
$1,330,900
Cap Rate 7%
$950,643
Cap Rate 9%
$739,389
Alternative Uses
Best Use
Multifamily LT 5
$950.6K
$831.8K – $1.11M
NOI $66,545 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$867.9K
$759.4K – $1.01M
NOI $60,751 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,228 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
446
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Three residences offer a mix of owner occupancy and established seasonal and year-round rental use.
Where is this duplex located?
The property is located at 62 Evergreen Avenue Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two updated two‑bedroom apartments plus a detached two‑bedroom cottage; 3,931 square feet; built in 1900; R‑2 zoning
