Renovated Duplex with Hardwood
For Sale
$224,444
12 School Street, Brewer, ME 04412
Brewer, ME
Property Size1,734 SF
Price / SF$129.44
Days on Market28
Property Features for 12 School Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
2
Full bathrooms
2
Standard status
Active
Size
1,734 SF
Building Details
Year built
1900
Listing Agency:
Bangor, Maine · Better Homes and Gardens Real Estate
(207) 942-6711
Listed By:
Scott Basso
(800) 741-1540
Added: Jul 30
Changed: Aug 25
Last Checked: Aug 26 at 1:06PM
MLS# 1662518
Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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 duplex contains 1,734 square feet of residential space and was built in 1900. Hardwood flooring contributes character throughout the property, while a brand-new kitchen provides a more contemporary central living area.
The property is located at 12 School Street in Brewer, Maine, within Penobscot County. The upstairs tenants are scheduled to move out by September 16, creating a defined change in occupancy for the upper unit.
The property is located at 12 School Street in Brewer, Maine, within Penobscot County. The upstairs tenants are scheduled to move out by September 16, creating a defined change in occupancy for the upper unit.
Key Highlights
- 1,734‑square‑foot duplex built in 1900
- Brand‑new kitchen with updated functionality and finishes
- Hardwood floors throughout the property
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
$15,891
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
7.08%
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%
$317,820
$317.8K
Cap Rate 7%
$227,014
$227.0K
Cap Rate 9%
$176,567
$176.6K
Market Conditions
NOI Build-Up for 1,734 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
$23.9K $13.80/SF
− Vacancy
−$1.2K −$0.71/SF
EGI
$22.7K $13.09/SF
− OpEx
−$6.8K −$3.93/SF
NOI
$15.9K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$317,820
Cap Rate 7%
$227,014
Cap Rate 9%
$176,567
Alternative Uses
Best Use
Multifamily LT 5
$227.0K
$198.6K – $264.9K
NOI $15,891 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$208.8K
$182.7K – $243.6K
NOI $14,616 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$560.0K
$490.0K – $653.4K
NOI $39,202 @ 7.0% cap · market cap 17.47%
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
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 04412, ME
9,672
Population
4,565
Households
2.1
Avg Household Size
43
Median Age
31%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
636
Density / Sq Mi
$51,490
Median Household Income
$35,700
Median Earnings
$984
Median Rent
$218,100
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 - Two-unit residential property featuring a newly updated kitchen and hardwood flooring throughout.
Where is this duplex located?
The property is located at 12 School Street Brewer, ME.
What is the asking price?
The asking price for this property is $224,444.
What are key features of this property?
This property features: 1,734‑square‑foot duplex built in 1900; Brand‑new kitchen with updated functionality and finishes; Hardwood floors throughout the property
