Two-Unit Duplex with Office
For Sale
$299,900
11 Church Street, Oakland, ME 04963
Multi-Family, Oakland, ME
Property Size2,600 SF
Lot Size0.07 Acres
Price / SF$115.35
Days on Market78
Property Features for 11 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential/Commer
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Parking features
On Street
Basement
Partial, Dirt Floor, Unfinished
Lot features
Rolling/ Sloping, Sidewalks, Intown, Near Shopping, Near Railroad
Standard status
Active
Size
2,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2225
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating)
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Carpet, Linoleum, Tile, Laminate
Building materials
Masonry, Wood Frame, Vinyl Siding
Roof type
Membrane
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Francois Rodrigue
(207) 873-9013
Added: Jul 7
Changed: Sep 12
Last Checked: Sep 22 at 2:06PM
MLS# 1653128
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.
This 2,600-square-foot duplex was built in 1900 and includes two residential units, separate utilities, and additional office space. The office area may offer a path to expanded living space for the first-floor unit, subject to confirmation of permitted use with local officials. Construction includes masonry, wood frame, and vinyl siding, with tile, laminate, carpet, and linoleum flooring across the property.
Recent property work includes sewer line replacement approximately four years ago and installation of Rinnai heaters approximately two years ago. The building uses propane heat, public water, and public sewer, with on-street parking. Set on a 0.07-acre lot in Oakland, the property is located minutes from Waterville and near shopping, dining, services, and other local amenities.
Recent property work includes sewer line replacement approximately four years ago and installation of Rinnai heaters approximately two years ago. The building uses propane heat, public water, and public sewer, with on-street parking. Set on a 0.07-acre lot in Oakland, the property is located minutes from Waterville and near shopping, dining, services, and other local amenities.
Key Highlights
- 2,600 square feet with two residential units
- Separate utilities for each unit
- Additional office space with possible first‑floor expansion, subject to local approval
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
$25,328
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
8.45%
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%
$506,560
$506.6K
Cap Rate 7%
$361,829
$361.8K
Cap Rate 9%
$281,422
$281.4K
Market Conditions
NOI Build-Up for 2,600 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
$46.8K $18.00/SF
− Vacancy
−$749 −$0.29/SF
EGI
$46.1K $17.71/SF
− OpEx
−$20.7K −$7.97/SF
NOI
$25.3K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$506,560
Cap Rate 7%
$361,829
Cap Rate 9%
$281,422
Alternative Uses
Best Use
Multifamily LT 5
$414.8K
$363.0K – $483.9K
NOI $29,036 @ 7.0% cap · market cap 9.68%
Second Best
Apartment 5plus
$361.8K
$316.6K – $422.1K
NOI $25,328 @ 7.0% cap · market cap 8.45%
Theoretical Best
Warehouse
$3.88M
$3.39M – $4.53M
NOI $271,526 @ 7.0% cap · market cap 90.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 04963, ME
7,358
Population
4,279
Households
1.7
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
51.1 sq mi
ZIP Area
144
Density / Sq Mi
$73,611
Median Household Income
$49,913
Median Earnings
$885
Median Rent
$228,200
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?
Duplex - Separate utilities, public services, and supplemental office area support flexible residential use.
Where is this duplex located?
The property is located at 11 Church Street Oakland, ME.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,600 square feet with two residential units; Separate utilities for each unit; Additional office space with possible first‑floor expansion, subject to local approval
