Duplex with Detached
New
For Sale
$679,000
859 Goodwin Road, Eliot, ME 03903
Multi-Family, Eliot, ME
Property Size2,364 SF
Lot Size0.83 Acres
Price / SF$287.23
Days on Market3
Property Features for 859 Goodwin Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
RD
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking features
Open
Patio and Porch features
Porch, Deck
Interior features
In-Law Apartment, 1st Floor Bedroom, Bathtub, Shower, Storage
Basement
Full, Finished, Walk-Out Access
Lot features
Well Landscaped, Rural
Standard status
Active
Size
2,364 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4508
Utilities
Sewer type
Private Sewer
Heating system
Hot Water(Heating), Oil
Water source
Well, Private
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Tar/Gravel
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
Century 21 North East · Century 21 Real Estate
(800) 844-7653
Listed By:
Linda Pratt
(207) 337-0199
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 16 at 4:06AM
MLS# 1680477
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 2,364-square-foot duplex in Eliot combines a ranch-style main residence with a finished lower level and extensive accessory space. The primary level includes two bedrooms and one bath, while the lower area adds a kitchen and living space, bedroom, office, den, bath, and a separate entrance. An attached two-car garage complements the home, and the detached barn provides substantial vehicle, equipment, workshop, and storage capacity across two levels.
The property occupies 0.83 acres at 859 Goodwin Road and was built in 1960. Interior features include laminate flooring and additional storage, with a porch and deck outside. The property has RD zoning, private well water, private sewer, oil heat, and hot-water heating. Its Eliot location offers access to Portsmouth, Kittery, Dover, shopping, restaurants, and major commuter routes.
The property occupies 0.83 acres at 859 Goodwin Road and was built in 1960. Interior features include laminate flooring and additional storage, with a porch and deck outside. The property has RD zoning, private well water, private sewer, oil heat, and hot-water heating. Its Eliot location offers access to Portsmouth, Kittery, Dover, shopping, restaurants, and major commuter routes.
Key Highlights
- 2,364‑square‑foot duplex on 0.83 acres
- Detached barn with full walk‑up second level
- Attached two‑car garage
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
$40,018
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
5.89%
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%
$800,360
$800.4K
Cap Rate 7%
$571,686
$571.7K
Cap Rate 9%
$444,644
$444.6K
Market Conditions
NOI Build-Up for 2,364 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
$60.1K $25.44/SF
− Vacancy
−$3.0K −$1.26/SF
EGI
$57.2K $24.18/SF
− OpEx
−$17.2K −$7.25/SF
NOI
$40.0K $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%
$800,360
Cap Rate 7%
$571,686
Cap Rate 9%
$444,644
Alternative Uses
Best Use
Multifamily LT 5
$571.7K
$500.2K – $667.0K
NOI $40,018 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$521.9K
$456.7K – $608.9K
NOI $36,534 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$749.4K
$655.7K – $874.3K
NOI $52,456 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 03903, ME
6,717
Population
3,092
Households
2.2
Avg Household Size
48
Median Age
41%
College-Educated
100%
High-School Grad
19.8 sq mi
ZIP Area
339
Density / Sq Mi
$100,472
Median Household Income
$44,375
Median Earnings
$1,837
Median Rent
$465,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style duplex with a lower-level living area, attached garage, and substantial detached barn for storage or workshop use.
Where is this duplex located?
The property is located at 859 Goodwin Road Eliot, ME.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 2,364‑square‑foot duplex on 0.83 acres; Detached barn with full walk‑up second level; Attached two‑car garage
