Multi-Unit Property Near Lake
For Sale
$559,000
Pending
96 Mineral Spring Road, Windham, ME 04062
Multiple living units offer flexible rental or multigenerational use, with updates and improvements needed.
Property Size2,940 SF
Days on Market213
Property Features for 96 Mineral Spring Road
General Information
Standard status
Pending
Size
2,940 SF
Property subtype
Residential / Single Family Residence
Zoning
RL
Property Condition
Severity
Repairs Needed
Evidence
does require updates and improvements
Taxes and HOA fees
Annual Taxes
$8,361
Amenities
Oil, Forced Air
Interior Entry, Unfinished
Carpet, Vinyl
No
Yes
Interior
4
6
2
1
1.0
4.0
Metal
Paved
Vinyl Siding, Wood Siding
Building Details
Year Built
1940
Listing Agency:
Krainin Real Estate
Listed By:
Jacqueline Griffeth
(207) 318-8751
Source:
Compass
Added: Mar 17
Changed: Oct 5
Last Checked: Oct 15 at 1:30AM
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 Krainin Real Estate
Investment Insights
Based on property information with market context.
This multifamily property contains 2,940 square feet and dates to 1940. The building has a wood-frame structure with wood and vinyl siding, metal exterior elements, forced-air heating, and a combination of vinyl and carpet flooring. Interior space is unfinished and requires updates and improvements.
The property is located at 96 Mineral Spring Road in Windham, Maine, with association access to Sebago Lake within a short walk. Local amenities, restaurants, and year-round recreation are also identified in the surrounding area. RL zoning applies to the property, while the existing multiple-unit configuration provides flexible living space for rental use or multigenerational occupancy.
The property is located at 96 Mineral Spring Road in Windham, Maine, with association access to Sebago Lake within a short walk. Local amenities, restaurants, and year-round recreation are also identified in the surrounding area. RL zoning applies to the property, while the existing multiple-unit configuration provides flexible living space for rental use or multigenerational occupancy.
Key Highlights
- 2,940‑square‑foot multifamily property built in 1940
- Multiple‑unit configuration with flexible living space
- Short walk to association access on Sebago Lake
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,335
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,700
$966.7K
Cap Rate 7%
$690,500
$690.5K
Cap Rate 9%
$537,056
$537.1K
Market Conditions
NOI Build-Up for 2,940 SF
Gross rent
$93.5K $31.80/SF
− Vacancy
−$5.6K −$1.91/SF
EGI
$87.9K $29.89/SF
− OpEx
−$39.5K −$13.45/SF
NOI
$48.3K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,700
Cap Rate 7%
$690,500
Cap Rate 9%
$537,056
Alternative Uses
Best Use
Apartment 5plus
$690.5K
$604.2K – $805.6K
NOI $48,335 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$808.1K
$707.1K – $942.7K
NOI $56,564 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 04062, ME
18,464
Population
8,695
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
46.7 sq mi
ZIP Area
395
Density / Sq Mi
$98,946
Median Household Income
$57,505
Median Earnings
$1,189
Median Rent
$370,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple living units offer flexible rental or multigenerational use, with updates and improvements needed.
Where is this multifamily property located?
The property is located at 96 Mineral Spring Road Windham, ME.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 2,940‑square‑foot multifamily property built in 1940; Multiple‑unit configuration with flexible living space; Short walk to association access on Sebago Lake
