Duplex with Attached
For Sale
$269,900
76 Lee Road, Lincoln, ME 04457
Two distinct living areas include a main residence and an apartment above the attached garage.
Property Size1,800 SF
Price / SF$149.94
Days on Market116
Property Features for 76 Lee Road
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
3
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
NextHome Experience
(207) 403-4123
Listed By:
Katelyn Hawkins
(207) 680-3667
Source:
Portsiderealestategroup
Added: May 6
Changed: Aug 28
Last Checked: Aug 28 at 5:09PM
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 NextHome Experience
Investment Insights
Based on property information with market context.
This duplex property combines a two-level main residence with a separate apartment positioned over an attached three-car garage. The primary home includes a mudroom, kitchen, dining room, living room, pantry, laundry area, one bedroom and a full bathroom on the first floor, with three additional bedrooms and a half bath upstairs. The upper apartment has its own kitchen, living room, bedroom and full bathroom.
The property sits on a corner lot at 76 Lee Rd in Lincoln, Maine. Schools, shopping and the public beach at Mattanawcook Lake are located nearby. Electrical improvements, heat pumps and other updates have been completed, and the home dates to 1900.
The property sits on a corner lot at 76 Lee Rd in Lincoln, Maine. Schools, shopping and the public beach at Mattanawcook Lake are located nearby. Electrical improvements, heat pumps and other updates have been completed, and the home dates to 1900.
Key Highlights
- Separate apartment over an attached 3‑car garage
- Main residence offers 4 bedrooms, 1 full bath and 1 half bath
- Apartment includes its own kitchen, living room, bedroom and full bathroom
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
$16,496
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
6.11%
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%
$329,920
$329.9K
Cap Rate 7%
$235,657
$235.7K
Cap Rate 9%
$183,289
$183.3K
Market Conditions
NOI Build-Up for 1,800 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
$24.8K $13.80/SF
− Vacancy
−$1.3K −$0.71/SF
EGI
$23.6K $13.09/SF
− OpEx
−$7.1K −$3.93/SF
NOI
$16.5K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$329,920
Cap Rate 7%
$235,657
Cap Rate 9%
$183,289
Alternative Uses
Best Use
Multifamily LT 5
$235.7K
$206.2K – $274.9K
NOI $16,496 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$216.7K
$189.7K – $252.9K
NOI $15,172 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$581.3K
$508.7K – $678.2K
NOI $40,694 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 04457, ME
5,689
Population
3,587
Households
1.6
Avg Household Size
48
Median Age
21%
College-Educated
94%
High-School Grad
258.8 sq mi
ZIP Area
22
Density / Sq Mi
$51,403
Median Household Income
$32,646
Median Earnings
$647
Median Rent
$126,100
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 - Two distinct living areas include a main residence and an apartment above the attached garage.
Where is this duplex located?
The property is located at 76 Lee Road Lincoln, ME.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Separate apartment over an attached 3‑car garage; Main residence offers 4 bedrooms, 1 full bath and 1 half bath; Apartment includes its own kitchen, living room, bedroom and full bathroom
