2-Unit Duplex with Heated
New
For Sale
$430,000
866 Lewiston Road, New Gloucester, ME 04260
Multi-Family, New Gloucester, ME
Property Size1,792 SF
Lot Size2.00 Acres
Price / SF$239.96
Days on Market5
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Property Features for 866 Lewiston Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
RB-1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Heated
Patio and Porch features
Deck, Porch
Interior features
1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Storage
Lot features
Well Landscaped, Open, Level, Near Golf Course, Near Shopping, Near Turnpike/ Interstate, Near Town, Rural
Standard status
Active
Size
1,792 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2794
Utilities
Sewer type
Septic Tank, Shared Septic
Heating system
Forced Air, Electric (Heating), Heat Pump (Heating), Propane (Heating)
Water source
Well
Building Details
Year built
2018
Number of units
2
Flooring type
Laminate, Hardwood, Carpet, Vinyl
Building materials
Mobile, Wood Frame, Vinyl Siding
Roof type
Shingle, Metal
Architectural style
Ranch, Contemporary
Additional Structures
Storage
Listing Agency:
Pine Tree Realty of Maine
(207) 893-8006
Listed By:
Deborah Shaw Mancini
(207) 329-5326
Added: Oct 11
Changed: Oct 14
Last Checked: Oct 15 at 3:06PM
MLS# 1683972
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.
Built in 2018, this duplex contains two separate dwelling units with a combined 1,792 square feet. The ranch-style property has bedrooms and storage, along with a porch and deck. Heating features include forced-air, electric, propane, and heat-pump systems; the finish materials include vinyl siding and a metal or shingle roof.
A 32-by-28-foot heated garage provides additional enclosed space. The property occupies 2 acres in New Gloucester and is zoned RB-1.
A 32-by-28-foot heated garage provides additional enclosed space. The property occupies 2 acres in New Gloucester and is zoned RB-1.
Key Highlights
- Two separate dwelling units
- 32' x 28' heated garage
- 1,792 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,667
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,340
$633.3K
Cap Rate 7%
$452,386
$452.4K
Cap Rate 9%
$351,856
$351.9K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$48.4K $27.00/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$45.2K $25.25/SF
− OpEx
−$13.6K −$7.57/SF
NOI
$31.7K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,340
Cap Rate 7%
$452,386
Cap Rate 9%
$351,856
Alternative Uses
Best Use
Multifamily LT 5
$452.4K
$395.8K – $527.8K
NOI $31,667 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$420.9K
$368.3K – $491.0K
NOI $29,462 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$492.5K
$431.0K – $574.6K
NOI $34,477 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 04260, ME
5,676
Population
2,274
Households
2.5
Avg Household Size
43
Median Age
33%
College-Educated
96%
High-School Grad
47.1 sq mi
ZIP Area
121
Density / Sq Mi
$107,781
Median Household Income
$49,507
Median Earnings
$1,270
Median Rent
$316,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The property includes a detached heated garage and two acres of land.
Where is this duplex located?
The property is located at 866 Lewiston Road New Gloucester, ME.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two separate dwelling units; 32' x 28' heated garage; 1,792 square feet of property size
