22 Spring Street Gardiner, ME 04345
MULTI_FAMILY - Gardiner, ME
Property Features for 22 Spring Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 12
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1
- Patio and Porch features
- Deck
- Standard status
- Active
- Size
- 2,048 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3180
Utilities
- Sewer type
- Public Sewer
- Heating system
- Propane (Heating)
- Water source
- Public
- Water front features
- Stream
Building Details
- Year built
- 2001
- Number of units
- 2
- Flooring type
- Carpet, Tile, Vinyl
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
Listing agent Katherine Whitney (207) 449-6780
Listing office Tim Dunham Realty 643 Lewiston Rd, Topsham, ME (207) 729-7297
Listing date Jul 8, 2026
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.
Located in downtown Gardiner, the property is described as being surrounded by trees. Tenants have easy access to Highway 295, approximately 8 minutes away, and downtown Gardiner is about a 5 minute walk. Multiple convenience stores are noted nearby.
With two residential units on a single parcel, this property provides an owner with two income-producing apartments while remaining within a walkable downtown area.
Key Highlights
- Duplex built in 2001 with 2 units, each offering 2 bedrooms and 1 bathroom
- Both units are currently leased; strong rental history with no vacancies during the owners’ ownership
- Public water and public sewer service
Local 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 | $33.2k | $16.20 |
| − Vacancy | −$504 | −$0.25 |
| EGI | $32.7k | $15.95 |
| − OpEx | −$9.8k | −$4.79 |
| NOI | $22.9k | $11.17 |
