Duplex with Barn and
For Sale
$329,000
96 Maple Street, Cornish, ME 04020
Commercially zoned duplex with adaptable living, work, and storage areas near village shopping and restaurants.
Property Size2,350 SF
Price / SF$140
Days on Market83
Property Features for 96 Maple Street
General Information
Standard status
Active
Size
2,350 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Building Details
Year Built
1890
Listing Agency:
Keller Williams Realty
Listed By:
Jeffrey Mateja
(603) 433-3350
Source:
Greatislandrealty
Added: May 21
Changed: Aug 11
Last Checked: Aug 11 at 10:08AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 2,350-square-foot duplex was built in 1890 and retains its original character while offering a flexible two-unit arrangement. The main-floor residence includes two bedrooms, while the upper apartment has one bedroom plus space identified for an additional bedroom or office. The property may also function as a single-family residence.
A separate barn adds storage and office areas that can accommodate a workshop, studio, or home-based business. The property includes a private yard with mature landscaping and is designated for commercial use. Shops and restaurants in Cornish Village are within walking distance, with additional proximity to town and shopping areas.
A separate barn adds storage and office areas that can accommodate a workshop, studio, or home-based business. The property includes a private yard with mature landscaping and is designated for commercial use. Shops and restaurants in Cornish Village are within walking distance, with additional proximity to town and shopping areas.
Key Highlights
- 2,350‑square‑foot duplex built in 1890
- Main‑level two‑bedroom unit with upper one‑bedroom apartment
- Upper apartment includes space for a second bedroom or office
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
$29,187
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
8.87%
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%
$583,740
$583.7K
Cap Rate 7%
$416,957
$417.0K
Cap Rate 9%
$324,300
$324.3K
Market Conditions
NOI Build-Up for 2,350 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
$50.8K $21.60/SF
− Vacancy
−$4.1K −$1.73/SF
EGI
$46.7K $19.87/SF
− OpEx
−$17.5K −$7.45/SF
NOI
$29.2K $12.42/SF
Area
York County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$583,740
Cap Rate 7%
$416,957
Cap Rate 9%
$324,300
Alternative Uses
Best Use
Multifamily LT 5
$568.3K
$497.3K – $663.0K
NOI $39,781 @ 7.0% cap · market cap 12.09%
Second Best
Apartment 5plus
$518.8K
$454.0K – $605.3K
NOI $36,318 @ 7.0% cap · market cap 11.04%
Theoretical Best
Office A
$744.9K
$651.8K – $869.1K
NOI $52,146 @ 7.0% cap · market cap 15.85%
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
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 04020, ME
1,508
Population
876
Households
1.7
Avg Household Size
46
Median Age
20%
College-Educated
90%
High-School Grad
22.2 sq mi
ZIP Area
68
Density / Sq Mi
$69,068
Median Household Income
$36,120
Median Earnings
$1,194
Median Rent
$244,300
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 - Commercially zoned duplex with adaptable living, work, and storage areas near village shopping and restaurants.
Where is this duplex located?
The property is located at 96 Maple Street Cornish, ME.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,350‑square‑foot duplex built in 1890; Main‑level two‑bedroom unit with upper one‑bedroom apartment; Upper apartment includes space for a second bedroom or office
