Two Houses with Detached
7 Preston Way Cumberland, ME 04021
7 Preston Way, Cumberland, ME, 04021
$549,900
For Sale
$549,900
MULTI_FAMILY - Cape Cod, Ranch - Cumberland, ME
Property Size1,597 SF
Lot Size0.40 Acres
Price / SF$344.33
Days on Market65
Property Features for 7 Preston Way
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- VOC1
- Bathrooms
- 2
- Rooms
- Bathroom 2, Basement, Bathroom 1
- Interior features
- 1st Floor Bedroom, Storage
- Basement
- Walk-Out Access, Unfinished
- 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
- Private Sewer, Shared Septic
- Heating system
- Forced Air, Kerosene, Baseboard, Oil
- Water source
- Well, Private
Building Details
- Year built
- 1930
- Number of units
- 2
- Flooring type
- Tile, Composition, Vinyl, Wood, Carpet
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Cape Cod, Ranch
- Additional Structures
- Storage
Listing Agency
Allied Real Estate
(207) 892-2214
909 Roosevelt Trail, Windham, ME
Listed by
Tammy Laliberty
(207) 400-9549
Added: May 14 Checked: Jul 17 at 1:06 pm
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- Two free‑standing homes with a detached garage that includes storage above
- Cape Cod and ranch architecture; homes built in 1930
- Whole‑house generator runs both homes; each home is fully equipped with appliances
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
NOI $28,221 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$375.1K
$328.2K – $437.6K
NOI $26,256 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$438.9K
$384.1K – $512.1K
NOI $30,726 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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 with a detached garage that includes storage above; Cape Cod and ranch architecture; homes built in 1930; Whole‑house generator runs both homes; each home is fully equipped with appliances
