1102 Gilead Road

FOR SALE · GILEAD, ME · WHITE MOUNTAIN NF BORDER

$699,000

OFFERING PRICE

8.04%

CAP

8.69%

AT MARKET

6 Units, 2 Vacancies, 1 Opportunity. $60,760 Stabilized NOI, No Repairs Needed

A 6-unit multifamily built in 1989 on a one-acre lot on the edge of White Mountain National Forest. Four units occupied today with two vacant units representing immediate lease-up upside, and a clear path to $60,760 stabilized NOI — with no capital spend required.

Address (general)

Gilead Road, Gilead, ME 04217

Offering Price

$699,000

Units

6 · 10 Bedrooms / 6 Baths · 3,590 SF total · 600 SF/unit avg.

Unit Mix

1-Bed/1-Bath (×3) · 2-Bed/1-Bath (×2) · 3-Bed/1-Bath (×1)

Year Built

1989

Lot Size

1 acre · Large on-site parking lot

Occupancy

66.7% (4 of 6 units leased) · 2 vacant units at $1,750 and $1,200

In-Place Monthly Rent

$4,547/mo ($54,564/yr - occupied units only)

Market Monthly Rent

$7,950/mo ($95,400/yr)

Effective Gross Income

$85,466/yr (current, all 6 units)

Total Operating Expenses

$29,272/yr · 34.3% expense ratio

Current NOI

$56,194/yr

NOI — At Market Rents

$60,760/yr

Cap Rate — Current

8.04%

Cap Rate — At Market

8.69%

Price Per Unit

$116,500

Price Per SF

$195

Avg. Rent vs. Market

$1,137 in-place · $1,250 market · 9.1% gap

Tenant-Paid Utilities

Electricity (in unit)

Owner-Paid Utilities

Heat (gas/oil) · Water/sewer · Common electric · Snow/landscaping

Management

Professionally Managed by Simplified Management

Showing

Call broker - Seth Musich - 207-446-9193

Why This Property

A location that retains tenants.

Gilead Road sits on the boundary of White Mountain National Forest — 800,000+ acres of trails, rivers, and wilderness. The Androscoggin River boat launch is directly across the street. Sunday River Ski Resort is 20 miles away. Scenic mountain views and a nearby train station complete the picture. People who find this place tend to stay.

Rent upside with no renovation required.

In-place rents on occupied units average $1,137 against a $1,250 market rate — a 9.1% gap. That gap closes at natural lease renewal. No displacement, no construction, no capital spend. Current NOI grows from $56,194 to $60,760 as leases turn over at market.

Two vacant unit — immediate upside.

Units 4 and 6 are vacant. Unit 4 (3-bedroom, 1-bath) carries a $1,750 market ask. Unit 6 (1-bedroom, 1-bath) carries a $1,200 market ask. Fill both and occupancy hits 100%. Together they add $35,400 in annual gross rent at market rates.

Management already in place.

Simplified Management (6%) has been managing the property and is willing to stay under new ownership. For out-of-area investors, this is day-one operational continuity — no onboarding a new manager, no transition period.

Diverse unit mix. Broad tenant appeal.

Three 1-bedroom, two 2-bedroom, and one 3-bedroom unit across 3,590 SF of total space. The unit mix attracts individuals, couples, and small families — reducing concentration risk in a 6-unit building.

Unit Mix & Rent Roll

Four units are leased today with rents ranging from $1,017 to $1,230/month. Two units are vacant — Unit 4 (3-Bed) at $1,750/mo market and Unit 6 (1-Bed) at $1,200/mo market and is available immediately.

UNIT 1

Beds/Bath

Status

Market Rent

In-Place Rent

1 Bed / 1 Bath

Occupied

$1,200/mo

$1,017/mo

Deposit

Lease Through

Notes

$500

TAW

Below market — $183 gap

UNIT 2

Beds/Bath

Status

Market Rent

In-Place Rent

2 Bed / 1 Bath

Occupied

$1,300/mo

$1,230/mo

Deposit

Lease Through

Notes

$1,025

TAW

Below market — $70 gap

UNIT 3

Beds/Bath

Status

Market Rent

In-Place Rent

2 Bed / 1 Bath

Occupied

$1,300/mo

$1,150/mo

Deposit

Lease Through

Notes

$1,150

TAW

Below market — $150 gap

UNIT 4

Beds/Bath

Status

Market Rent

In-Place Rent

3 Bed / 1 Bath

Vacant

$1,750/mo

-

Deposit

Lease Through

Notes

$0

-

Vacant — $1,750 market upside

UNIT 5

Beds/Bath

Status

Market Rent

In-Place Rent

1 Bed / 1 Bath

Occupied

$1,200/mo

$1,150/mo

Deposit

Lease Through

Notes

$0

Mar 2027

Near market — $50 gap

UNIT 6

Beds/Bath

Status

Market Rent

In-Place Rent

1 Bed / 1 Bath

Vacant

$1,200/mo

-

Deposit

Lease Through

Notes

$0

-

Vacant — $1,200 market upside

TOTAL

Beds/Bath

Status

Market Rent

In-Place Rent

6 units

10 BD / 6 BA

66.7% Occ.

$7,950/mo market

$4,547/mo in-place

Notes

9.1% below market (occupied)

Operating Income

Gross Potential Rent (current, all 6)

$89,964/yr ($7,497/mo)

Gross Potential Rent (at full market)

$95,400/yr ($7,950/mo)

Occupied Units In-Place Annual

$54,564/yr (4 units)

Effective Gross Income (5% vac.)

$85,466/yr (current, all 6 units)

Operating Expenses (T12 Actuals — Jan–Dec 2025)

Property Management (6% annual)

$5,398/yr

Repairs & Maintenance (5%)

$4,498/yr

Snow Removal & Landscaping

$1,800/yr

Common Electric

$600/yr

Gas / Oil (heat)

$5,400/yr

Water / Sewer

$3,600/yr

Insurance (estimated)

$4,566/yr (blanket policy $761/unit × 6)

Property Tax

$3,410/yr (actuals)

Trash / Recycling

$0 (currently not a line item)

Net Operating Income — Current

$56,194

Cap Rate: 8.04% · Growing to $60,760 / 8.69% at market rents

Gilead sits in the western mountains of Maine on the New Hampshire border, tucked between the Androscoggin River and the southern edge of White Mountain National Forest. It's a destination in its own right — and that's exactly what makes it a strong rental market.

White Mountain National Forest: 800,000 acres, directly adjacent to the property

Bethel, ME town center: 10 miles

Androscoggin River boat launch: directly across the street

Gorham, NH: 15 miles

Sunday River Ski Resort: 20 miles

Portland, ME: 75 miles

Active railroad and scenic train station nearby

Deal Terms

Asking Price: $699,000

Rent roll and financial documents
available to qualified buyers upon request

Sale Structure: Offered as-is — 6-unit multifamily on 1 acre

Management: Simplified Management currently in place at 6% — willing to stay under new ownership

Occupancy at close: 66.7% (4 of 6 units leased)

Showing: Call broker — Seth Musich, 207-446-9193

Financial figures based on current rents and T12 actuals where applicable. Insurance based on blanket policy estimate. Trash not currently a line item. Buyer to verify all figures independently.

The same property. A different strategy.

Here's what the STR data shows.

AirDNA projects that the six units at this property could generate $215,600 in annual gross short-term rental revenue. Professionally managed, that translates to $81,094 in NOI — an 11.6% cap on the $699,000 asking price. With a co-host setup, NOI climbs to $97,190. Owner-operated: $121,334.

1102 Gilead Road - STR Numbers

UNIT 1 - 1BR

STR Gross

ADR

Occupancy

Confidence

$35,400

$185

52%

High

UNIT 2 - 2BR

STR Gross

ADR

Occupancy

Confidence

$41,300

$228

50%

High

UNIT 3 - 2BR

STR Gross

ADR

Occupancy

Confidence

$41,300

$228

50%

High

UNIT 4 - 3BR

STR Gross

ADR

Occupancy

Confidence

$47,800

$289

45%

Medium

UNIT 5 - 1BR

STR Gross

ADR

Occupancy

Confidence

$35,400

$185

52%

High

*Unit 5 is leased through March 2027

UNIT 6 - 1BR

STR Gross

ADR

Occupancy

Confidence

$35,400

$185

52%

High

TOTAL: STR Gross - $236,600

NOI, Cap Rate, Gross - by mixed use

Strategy

Gross

NOI

Cap

All six on annual leases

$95,400

$60,760

8.7%

3 units STR

$167,800

$72,799

10.4%

5 units STR

$215,600

$81,094

11.6%

All six STR

$236,600

$85,419

12.2%

NOI - by management model

Management

6 units STR

5 units STR

3 units STR

Full-service (20%)

$85,419

$81,094

$72,799

Co-host (12%)

$104,347

$97,190

$82,239

Owner-operated

$132,739

$121,334

$96,399

*Please verify local STR regulations

Ready to see it? Call Seth.

For showings, questions, or due diligence materials — reach out directly to the listing agent.

Full financial package available to qualified buyers.

CONTACT AGENT SETH MUSICH

For more information contact us at: Info@candorinvestmentgroup.com

Agent contact info: Seth Musich 207-446-9193‬ Email: Sethmusich@gmail.com