Turnkey Duplex with In-Unit
22 Ash Street Waterville, ME 04901
For Sale
$305,000
MULTI_FAMILY - Other - Waterville, ME
Property Size2,395 SF
Lot Size0.13 Acres
Price / SF$127.35
Days on Market18
Property Features for 22 Ash Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Patio and Porch features
Porch, Deck
Interior features
1st Floor Bedroom, Bathtub, Shower, Storage
Basement
Walk-Out Access, Full, Unfinished
Standard status
Active
Size
2,395 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3164
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1890
Number of units
2
Flooring type
Wood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Signature Homes Real Estate Group, LLC
(207) 885-0500
Listed By:
Derek Goff Joseph Tomazin
(207) 749-9905
Added: Jul 13
Last Checked: Jul 30 at 4:06AM
MLS# 1657213
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.
22 Ash Street is a turnkey duplex in Waterville offering flexibility for an owner-occupant or investor. Both units include two bedrooms, and Unit 1 has the potential for a third bedroom using the spacious front room. Recent updates include kitchens with butcher block countertops and durable luxury vinyl plank flooring, along with newer heat pumps for efficient heating and cooling year round. Each unit also has in-unit washer and dryers. Tenants pay their own heat, and the property includes ample off-street parking for residents and guests. Unit 1 is currently vacant, providing an immediate option for owner occupancy or a new tenancy.
The property is located about one mile from I-95 and within reach of Waterville’s downtown. It is also a short drive to Colby College and Thomas College. The recorded zoning is RC.
For tenants or buyers seeking straightforward, maintained income space, this duplex’s in-unit laundry and updated interior finishes can support everyday livability without shared laundry setups. The current vacancy in Unit 1 adds an on-ramp for immediate occupancy planning, while the second unit provides a complete, self-contained layout within the duplex configuration.
The property is located about one mile from I-95 and within reach of Waterville’s downtown. It is also a short drive to Colby College and Thomas College. The recorded zoning is RC.
For tenants or buyers seeking straightforward, maintained income space, this duplex’s in-unit laundry and updated interior finishes can support everyday livability without shared laundry setups. The current vacancy in Unit 1 adds an on-ramp for immediate occupancy planning, while the second unit provides a complete, self-contained layout within the duplex configuration.
Key Highlights
- Duplex built in 1890 with two bedrooms per unit; Unit 1 has a spacious front room with potential for a third bedroom
- Recent kitchen updates include butcher block countertops and luxury vinyl plank flooring
- Newer heat pumps provide heating and cooling; tenants pay their own heat to help manage operating expenses
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.8k | $16.20 |
| − Vacancy | −$590 | −$0.25 |
| EGI | $38.2k | $15.95 |
| − OpEx | −$11.5k | −$4.79 |
| NOI | $26.7k | $11.17 |
2,395 SF · lease $16.20/SF/yr · vacancy 1.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$382.1K
$334.3K – $445.8K
NOI $26,746 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$333.3K
$291.6K – $388.9K
NOI $23,331 @ 7.0% cap · market cap 7.65%
Theoretical Best
Warehouse
$3.57M
$3.13M – $4.17M
NOI $250,118 @ 7.0% cap · market cap 82.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with updated kitchens, heat pumps, and in-unit washer/dryer, offering owner-occupant flexibility.
Where is this duplex located?
The property is located at 22 Ash Street Waterville, ME.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Duplex built in 1890 with two bedrooms per unit; Unit 1 has a spacious front room with potential for a third bedroom; Recent kitchen updates include butcher block countertops and luxury vinyl plank flooring; Newer heat pumps provide heating and cooling; tenants pay their own heat to help manage operating expenses
