Historic Duplex with Attached
For Sale
$1,325,000
88 York St, York, ME 03909
Distinctive York Village property combining a character-rich primary residence, flexible upper-level living space, and a separate apartment.
Property Size3,001 SF
Price / SF$441.52
Days on Market17
Property Features for 88 York St
General Information
Standard status
Active
Size
3,001 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/4BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
wraparound porch
fenced-in yard
paver patio
fire pit area
Reeds Ferry shed
central air
attached 2-car garage
Building Details
Year Built
1880
Buildings
1
Listing Agency:
Anne Erwin Sotheby's International Realty
(207) 363-6640
Listed By:
Anne Erwin Real Estate
Source:
Aroostookrealestate
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 28 at 8:30PM
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 Anne Erwin Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 3,001-square-foot duplex pairs an 1880-built primary residence with an attached two-bedroom apartment. The main home includes three bedrooms and four baths, along with a wraparound porch, foyer, hardwood floors, period trim, pocket doors, built-in cabinetry, and a woodstove. Its kitchen opens to a fenced backyard featuring a paver patio, stone walls, landscaped grounds, blueberry bushes, a pea-stone fire pit area, and a storage shed.
The second floor provides a primary bedroom, two guest rooms, a shared flex room, and an updated bath. A third-floor family room adds a kitchenette, gas stove, office area, tree-top views, and a full bath with clawfoot tub. Central air accompanies the updated heating system, while the heated attached two-car garage includes storage and a bath. The apartment contains two bedrooms and one bath and may serve as live-in support, a separate studio, or an income-producing residence. Schools, a hospital, library, golf, beaches, restaurants, and shops are within walking distance in York Village.
The second floor provides a primary bedroom, two guest rooms, a shared flex room, and an updated bath. A third-floor family room adds a kitchenette, gas stove, office area, tree-top views, and a full bath with clawfoot tub. Central air accompanies the updated heating system, while the heated attached two-car garage includes storage and a bath. The apartment contains two bedrooms and one bath and may serve as live-in support, a separate studio, or an income-producing residence. Schools, a hospital, library, golf, beaches, restaurants, and shops are within walking distance in York Village.
Key Highlights
- 1880‑built duplex with 3,001 square feet
- Primary residence offers 3 bedrooms and 4 baths
- Attached apartment includes 2 bedrooms and 1 bath
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
$50,802
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
3.83%
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%
$1,016,040
$1.0M
Cap Rate 7%
$725,743
$725.7K
Cap Rate 9%
$564,467
$564.5K
Market Conditions
NOI Build-Up for 3,001 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
$76.3K $25.44/SF
− Vacancy
−$3.8K −$1.26/SF
EGI
$72.6K $24.18/SF
− OpEx
−$21.8K −$7.25/SF
NOI
$50.8K $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%
$1,016,040
Cap Rate 7%
$725,743
Cap Rate 9%
$564,467
Alternative Uses
Best Use
Multifamily LT 5
$725.7K
$635.0K – $846.7K
NOI $50,802 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$662.5K
$579.7K – $773.0K
NOI $46,378 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$951.3K
$832.4K – $1.11M
NOI $66,591 @ 7.0% cap · market cap 5.03%
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
494
Businesses Nearby
Explore this area
Business Placement
Demographics for 03909, ME
10,938
Population
7,101
Households
1.5
Avg Household Size
53
Median Age
50%
College-Educated
98%
High-School Grad
35.2 sq mi
ZIP Area
311
Density / Sq Mi
$108,889
Median Household Income
$55,540
Median Earnings
$1,438
Median Rent
$589,400
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 - Distinctive York Village property combining a character-rich primary residence, flexible upper-level living space, and a separate apartment.
Where is this duplex located?
The property is located at 88 York St York, ME.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 1880‑built duplex with 3,001 square feet; Primary residence offers 3 bedrooms and 4 baths; Attached apartment includes 2 bedrooms and 1 bath
