Furnished Multifamily
For Sale
$995,000
7 Cappy's Ln, York, ME 03909
Two furnished residences occupy one lot near Short Sands Beach and York Beach village amenities.
Property Size2,159 SF
Price / SF$460.86
Days on Market8
Property Features for 7 Cappy's Ln
General Information
Standard status
Active
Size
2,159 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
enclosed porch
firepit area
garage
shed
Building Details
Year Built
1948
Buildings
2
Construction
mid-century Cape
Listing Agency:
(207) 436-8889
Listed By:
Crown Lakes Realty
(207) 436-8889
Source:
Crownlakesrealty
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 26 at 12:35PM
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 Crown Lakes Realty
Investment Insights
Based on property information with market context.
This multifamily property includes two furnished residences on a single lot in York. The primary home is a mid-century Cape with three bedrooms, one full bathroom, and an enclosed porch. A separate one-bedroom cottage provides an additional self-contained living space. Each residence has its own firepit area.
The property is located at 7 Cappy's Ln, within walking distance of Short Sands Beach and the restaurants and shops of York Beach village. Improvements also include an oversized two-car garage and a detached shed for storage. The homes are offered with furnishings included, providing two distinct residential spaces within one coastal property.
The property is located at 7 Cappy's Ln, within walking distance of Short Sands Beach and the restaurants and shops of York Beach village. Improvements also include an oversized two-car garage and a detached shed for storage. The homes are offered with furnishings included, providing two distinct residential spaces within one coastal property.
Key Highlights
- Two furnished homes situated on one lot
- Main residence includes 3 bedrooms, 1 full bathroom, and an enclosed porch
- Separate one‑bedroom cottage with self‑contained living space
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
$33,366
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
3.35%
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%
$667,320
$667.3K
Cap Rate 7%
$476,657
$476.7K
Cap Rate 9%
$370,733
$370.7K
Market Conditions
NOI Build-Up for 2,159 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
$64.0K $29.64/SF
− Vacancy
−$3.3K −$1.54/SF
EGI
$60.7K $28.10/SF
− OpEx
−$27.3K −$12.64/SF
NOI
$33.4K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
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%
$667,320
Cap Rate 7%
$476,657
Cap Rate 9%
$370,733
Alternative Uses
Best Use
Apartment 5plus
$476.7K
$417.1K – $556.1K
NOI $33,366 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$684.4K
$598.8K – $798.5K
NOI $47,907 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 03909, ME
10,938
Population
7,101
Households
1.5
Avg Household Size
53
Median Age
50%
College-Educated
98%
High-School Grad
35.2 sq mi
ZIP Area
311
Density / Sq Mi
$108,889
Median Household Income
$55,540
Median Earnings
$1,438
Median Rent
$589,400
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?
Multifamily property - Two furnished residences occupy one lot near Short Sands Beach and York Beach village amenities.
Where is this multifamily property located?
The property is located at 7 Cappy's Ln York, ME.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two furnished homes situated on one lot; Main residence includes 3 bedrooms, 1 full bathroom, and an enclosed porch; Separate one‑bedroom cottage with self‑contained living space
