Townhouse-Style Duplex with 3-Car
For Sale
$439,900
Pending
64-66 West Cutts Street, Biddeford, ME 04005
Rare duplex near downtown Biddeford, ideal for owner-occupants or investors.
Property Size2,016 SF
Days on Market105
Property Features for 64-66 West Cutts Street
General Information
Standard status
Pending
Size
2,016 SF
Property subtype
Multi-Family
Zoning
R2
Taxes and HOA fees
Annual Taxes
$4,298
Amenities
Propane, Direct Vent Heater
Interior Entry, Full, Unfinished
Carpet, Laminate, Vinyl, Engineered Hardwood
1st Floor Bedroom, Laundry - 1st Floor, Storage
No
Yes
2
Main Level
1st Floor Bedroom, Storage
2.0
Shingle
Storm Door(s)
Double Pane Windows
Building Details
Year Built
1900
Stories
2
Listing Agency:
Keller Williams Realty
(207) 553-2604
Listed By:
Christopher Lavoie
(207) 553-2604
Source:
Compass
Added: May 19
Changed: Aug 8
Last Checked: Jul 24 at 3:10PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This side-by-side townhouse-style duplex offers an exceptional investment and owner-occupancy opportunity. The property functions like two independent single-family homes, with each unit featuring its own private access point. This layout is well-suited for an owner-occupant looking to have their tenant pay the mortgage, or an investor seeking a high-demand, low-turnover property. A detached 3-car garage provides significant garage space, a rare feature for properties close to downtown. The garage offers potential for use as a workshop, hobby space, vehicle storage, or storage rental for passive income. Located within walking distance to downtown Biddeford, the property is near a vibrant area recognized for its dining and culture. The property size is 2016 square feet.
Key Highlights
- Lives like two independent single‑family homes with private entrances, ideal for owner‑occupancy or investment.
- Rare 3‑car detached garage offers workshop potential, vehicle storage, or rental income opportunity.
- Walking distance to downtown Biddeford, recognized as one of 'America's Next Great Food Cities'.
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
$34,127
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
7.76%
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%
$682,540
$682.5K
Cap Rate 7%
$487,529
$487.5K
Cap Rate 9%
$379,189
$379.2K
Market Conditions
NOI Build-Up for 2,016 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
$51.3K $25.44/SF
− Vacancy
−$2.5K −$1.26/SF
EGI
$48.8K $24.18/SF
− OpEx
−$14.6K −$7.25/SF
NOI
$34.1K $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%
$682,540
Cap Rate 7%
$487,529
Cap Rate 9%
$379,189
Alternative Uses
Best Use
Multifamily LT 5
$487.5K
$426.6K – $568.8K
NOI $34,127 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$445.1K
$389.5K – $519.3K
NOI $31,156 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$639.1K
$559.2K – $745.6K
NOI $44,734 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Rare duplex near downtown Biddeford, ideal for owner-occupants or investors.
Where is this duplex located?
The property is located at 64-66 West Cutts Street Biddeford, ME.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Lives like two independent single‑family homes with private entrances, ideal for owner‑occupancy or investment.; Rare 3‑car detached garage offers workshop potential, vehicle storage, or rental income opportunity.; Walking distance to downtown Biddeford, recognized as one of 'America's Next Great Food Cities'.
