Renovated Duplex with New
For Sale
$224,444
12 School Street, Brewer, ME 04412
Multi-Family, Brewer, ME
Property Size1,734 SF
Lot Size0.13 Acres
Price / SF$129.44
Days on Market29
Property Features for 12 School Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HDR
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Patio and Porch features
Porch
Basement
Unfinished, Partial
Lot features
Open, Level, Sidewalks, Intown, Near Shopping
Standard status
Active
Size
1,734 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3138
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Wood, Vinyl, Carpet
Building materials
Wood Frame, Asbestos
Roof type
Shingle, Metal
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group · Better Homes and Gardens Real Estate
(207) 942-6711
Listed By:
Scott Basso
(207) 299-5158
Added: Jul 29
Changed: Aug 19
Last Checked: Aug 26 at 1:06PM
MLS# 1662518
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 wood-frame duplex, built in 1900, contains 1,734 square feet on a 0.13-acre lot. Recent improvements include a new kitchen, while the interior combines wood, vinyl, and carpet flooring. A porch adds exterior living space, and the property includes a basement and two bathrooms. Heating is provided by natural gas through a hot-water baseboard system.
Located at 12 School Street in Brewer, the property is served by public water and public sewer. The building has shingle and metal roofing and carries HDR zoning. Its duplex configuration and updated kitchen provide a straightforward residential income property profile, with the existing layout also offering flexibility for owner occupancy subject to applicable requirements.
Located at 12 School Street in Brewer, the property is served by public water and public sewer. The building has shingle and metal roofing and carries HDR zoning. Its duplex configuration and updated kitchen provide a straightforward residential income property profile, with the existing layout also offering flexibility for owner occupancy subject to applicable requirements.
Key Highlights
- Duplex with 1,734 square feet of building area
- 0.13‑acre lot at 12 School Street, Brewer, ME 04412
- New kitchen and mixed wood, vinyl, and carpet flooring
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Wood-frame income property with updated interiors, public utilities, and a porch on a compact residential lot.
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: Duplex with 1,734 square feet of building area; 0.13‑acre lot at 12 School Street, Brewer, ME 04412; New kitchen and mixed wood, vinyl, and carpet flooring
