Two-Family Duplex with Off-Street
For Sale
$599,000
124 Brackett Street, Westbrook, ME 04092
MULTI_FAMILY - Other - Westbrook, ME
Property Size2,292 SF
Lot Size0.12 Acres
Price / SF$261.34
Days on Market32
Property Features for 124 Brackett Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
11
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Walk-in Closets, 1st Floor Bedroom, Bathtub, Shower
Fencing
Fenced
Basement
Unfinished, Full
Lot features
Near Country Club, Open, Sidewalks, Intown, Near Golf Course, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
2,292 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5637
Utilities
Sewer type
Public Sewer
Heating system
Oil, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
shared laundry
Building Details
Year built
1940
Number of units
2
Flooring type
Laminate, Tile, Vinyl, Wood
Building materials
Wood Frame, Asbestos, Shingle Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Waypoint Brokers Collective
(207) 804-2012
Listed By:
Brandon Gallagher
(207) 939-3170
Added: Jul 12
Changed: Aug 4
Last Checked: Aug 12 at 12:06AM
MLS# 1669075
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 fully leased two-family duplex offers two spacious 3-bedroom, 1-bath apartments. Each unit includes high ceilings and abundant natural light, with oversized galley kitchens that allow space for a formal dining area or home office. Interior features include walk-in closets, a 1st floor bedroom, and bathrooms with a bathtub and shower. Heating is oil, with forced-air systems, and cooling is provided by window unit(s). Construction materials include wood frame, shingle siding, and asbestos noted in the record, with a shingle roof.
The property includes an off-street parking setup and a porch, with fencing noted as fenced. Shared laundry is available in the basement. Water service and sewer are public, and flooring types include laminate, vinyl, wood, and tile. Built in 1940, the duplex sits on a 0.12-acre lot and totals 2,292 square feet, zoned as 11.
The layout supports comfortable, apartment-style living with multiple bedroom and bathroom areas across both units.
The property includes an off-street parking setup and a porch, with fencing noted as fenced. Shared laundry is available in the basement. Water service and sewer are public, and flooring types include laminate, vinyl, wood, and tile. Built in 1940, the duplex sits on a 0.12-acre lot and totals 2,292 square feet, zoned as 11.
The layout supports comfortable, apartment-style living with multiple bedroom and bathroom areas across both units.
Key Highlights
- Two‑family duplex with two 3‑bedroom, 1‑bath apartments
- Oil forced‑air heat plus window unit(s) cooling
- Shared laundry in the basement; off‑street parking
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
$40,503
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
6.76%
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%
$810,060
$810.1K
Cap Rate 7%
$578,614
$578.6K
Cap Rate 9%
$450,033
$450.0K
Market Conditions
NOI Build-Up for 2,292 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
$61.9K $27.00/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$57.9K $25.25/SF
− OpEx
−$17.4K −$7.57/SF
NOI
$40.5K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$810,060
Cap Rate 7%
$578,614
Cap Rate 9%
$450,033
Alternative Uses
Best Use
Multifamily LT 5
$578.6K
$506.3K – $675.1K
NOI $40,503 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$538.3K
$471.0K – $628.0K
NOI $37,682 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$630.0K
$551.2K – $735.0K
NOI $44,097 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
647
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
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 - Two 3-bedroom, 1-bath units in a wood-frame duplex with off-street parking, basement laundry, and public utilities.
Where is this duplex located?
The property is located at 124 Brackett Street Westbrook, ME.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑family duplex with two 3‑bedroom, 1‑bath apartments; Oil forced‑air heat plus window unit(s) cooling; Shared laundry in the basement; off‑street parking
