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    Two Houses with Detached Garage Title is generated by Realmo AI

    7 Preston Way, Cumberland, ME 04021

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    Claim this Listing
    For Sale
    $549,900

    MULTI_FAMILY - Cape Cod, Ranch - Cumberland, ME

    Type:Single Family Residence
    Property size:
    1,597 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $344/SF
    Added:
    May 14, 2026
    Days on Market:
    19
    Last Refresh:
    Jun 1 at 7:06 pm

    Property Features for 7 Preston Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Zoning
    VOC1
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2
    Interior features
    1st Floor Bedroom, Storage
    Basement
    Unfinished, Walk-Out Access
    Standard status
    Active
    Size
    1,597 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    5948

    Utilities

    Sewer type
    Shared Septic, Private Sewer
    Heating system
    Baseboard, Oil, Forced Air, Kerosene
    Water source
    Private, Well

    Building Details

    Year built
    1930
    Number of units
    2
    Flooring type
    Tile, Carpet, Vinyl, Composition, Wood
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Cape Cod, Ranch
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Tammy Laliberty

    Listing agent Tammy Laliberty

    Listing office Allied Real Estate 909 Roosevelt Trail, Windham, ME

    Listing date May 14, 2026

    MLS# 1656242 Listing URL

    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.

    HighLights

    • Two free‑standing homes on one property - excellent investment opportunity or multi‑generational living.
    • Whole‑house generator ensures uninterrupted power for both homes.
    • New septic system and new shingles on both homes and garage.
    • Low monthly heating costs.
    • Each home is fully equipped with appliances.
    • Detached garage with storage above, plus a large storage shed.

    Overview

    This property presents an opportunity to own two freestanding homes, a detached garage with storage above, and a large storage shed. A whole-house generator serves both homes. Both homes and the garage feature new shingles. A new septic system has been installed, and the property benefits from low monthly heating costs. Each home is fully equipped with appliances. The front Cape-style home is currently vacant. The property is located in Cumberland, Maine, and is zoned VOC1. The lot size is 0.4 acres. The property includes a total of 1597 square feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $43.1k $27.00
    − Vacancy −$2.8k −$1.76
    EGI $40.3k $25.25
    − OpEx −$12.1k −$7.57
    NOI $28.2k $17.67
    1,597 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $403.2K
    $352.8K – $470.4K (±1% cap)
    NOI $28,221 @ 7.0% cap · market cap 5.13%
    Second Best
    Apartment 5plus
    $375.1K
    $328.2K – $437.6K (±1% cap)
    NOI $26,256 @ 7.0% cap · market cap 4.77%
    Theoretical Best
    Office A
    $438.9K
    $384.1K – $512.1K (±1% cap)
    NOI $30,726 @ 7.0% cap · market cap 5.59%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Hotel & Motel Auto Parts Store Department Store Kitchen & Bath Showroom Garden Center Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.311494
    Latitude
    43.811286

    FAQs

    What type of property is this?
    Duplex - Two freestanding homes with garage and generator in Cumberland, Maine.
    Where is this duplex located?
    The property is located at 7 Preston Way Cumberland, ME.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: Two free‑standing homes on one property - **excellent investment opportunity or multi‑generational living.**; **Whole‑house generator ensures uninterrupted power for both homes.**; New septic system and new shingles on both homes and garage.
    (207) 400-9549
    We can help!
    Listing Contact
    Tammy Laliberty
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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