Duplex with Three-Car
For Sale
$349,000
121 Clinton Avenue, Winslow, ME 04901
Multi-Family, Winslow, ME
Property Size2,352 SF
Lot Size0.24 Acres
Price / SF$148.38
Days on Market70
Property Features for 121 Clinton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Mixed Use
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Patio and Porch features
Deck
Interior features
1st Floor Bedroom, One-Floor Living
Basement
Full, Daylight, Walk-Out Access
Lot features
Open, Corner Lot, Intown
Standard status
Active
Size
2,352 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4787
Utilities
Sewer type
Public Sewer
Heating system
Space Heater, Hot Water(Heating), Oil, Propane (Heating), Heat Pump (Heating), Baseboard, Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
deck
Building Details
Year built
1988
Floors in Building
3
Number of units
2
Flooring type
Wood, Tile, Linoleum, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Whittemore's Real Estate
(207) 474-3303
Listed By:
Garrett Quinn
(207) 431-9442
Added: Jul 1
Changed: Sep 2
Last Checked: Sep 8 at 12:06AM
MLS# 1669867
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.
Built in 1988, this two-unit Colonial contains 2,352 square feet on a 0.24-acre lot. The first-floor residence includes one bedroom, while the upper apartment has two bedrooms, a great room, and access to an elevated deck. Interior features include wood, tile, carpet, and linoleum flooring, along with heat pump cooling and a mix of heat pump, baseboard, hot water, space heater, propane, oil, and electric heating systems.
A daylight walk-out basement has previously served as commercial space; any future commercial or alternate use is subject to municipal approvals and applicable zoning requirements. The property also includes a three-car garage, public water, public sewer, a shingle roof, and wood-frame construction with vinyl siding. It is located in Winslow, near the shopping, restaurants, amenities, and services of Waterville and Fairfield.
A daylight walk-out basement has previously served as commercial space; any future commercial or alternate use is subject to municipal approvals and applicable zoning requirements. The property also includes a three-car garage, public water, public sewer, a shingle roof, and wood-frame construction with vinyl siding. It is located in Winslow, near the shopping, restaurants, amenities, and services of Waterville and Fairfield.
Key Highlights
- Two‑unit Colonial built in 1988
- 2,352 square feet on a 0.24‑acre lot
- First‑floor one‑bedroom apartment; second‑floor two‑bedroom apartment
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
$26,266
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
7.53%
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%
$525,320
$525.3K
Cap Rate 7%
$375,229
$375.2K
Cap Rate 9%
$291,844
$291.8K
Market Conditions
NOI Build-Up for 2,352 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
$38.1K $16.20/SF
− Vacancy
−$579 −$0.25/SF
EGI
$37.5K $15.95/SF
− OpEx
−$11.3K −$4.79/SF
NOI
$26.3K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$525,320
Cap Rate 7%
$375,229
Cap Rate 9%
$291,844
Alternative Uses
Best Use
Multifamily LT 5
$375.2K
$328.3K – $437.8K
NOI $26,266 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$327.3K
$286.4K – $381.9K
NOI $22,912 @ 7.0% cap · market cap 6.57%
Theoretical Best
Warehouse
$3.51M
$3.07M – $4.09M
NOI $245,627 @ 7.0% cap · market cap 70.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
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 - Vacant two-unit Colonial with public water and sewer and a daylight walk-out basement.
Where is this duplex located?
The property is located at 121 Clinton Avenue Winslow, ME.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit Colonial built in 1988; 2,352 square feet on a 0.24‑acre lot; First‑floor one‑bedroom apartment; second‑floor two‑bedroom apartment
