Two-Unit Duplex with Heat
For Sale
$210,000
63 Summer Street, Waterville, ME 04901
MULTI_FAMILY - Other - Waterville, ME
Property Size1,838 SF
Lot Size0.18 Acres
Price / SF$114.25
Days on Market27
Property Features for 63 Summer Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Pets allowed
No
Interior features
1st Floor Bedroom, Bathtub
Basement
Unfinished, Walk-Out Access, Full
Lot features
Near Country Club, Corner Lot, Level, Intown, Near Golf Course, Near Shopping, Near Turnpike/ Interstate, Neighborhood
Standard status
Active
Size
1,838 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3048
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating), Oil, Hot Water(Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Water front features
Stream
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Plourde Real Estate · Coldwell Banker Real Estate
(207) 872-7650
Listed By:
Robbin Eusebio
(207) 632-3922
Added: Jul 17
Changed: Aug 3
Last Checked: Aug 12 at 11:06AM
MLS# 1653113
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 two-unit duplex offers two separate 2-bedroom, 1-bath layouts. The first-floor unit has been renovated, with an updated bathroom and a modern kitchen featuring stainless-steel appliances, plus heat pumps for efficient cooling and heating. The second unit can support multiple living arrangements, including use as an executive home office or an in-law suite.
Built in 1910, the home sits on a 0.18-acre corner lot and includes 1,838 square feet of space with a full basement that has both interior and walk-out access. The property has a new shingle roof and is served by public water and public sewer. Exterior materials include wood frame construction with vinyl siding.
Heating is supported by heat pumps, electric baseboard, and oil hot water, with cooling provided by heat pumps. Flooring includes vinyl and laminate. Additional features include a stream waterfront feature and paved, off-street parking. The home is in-town with easy access to I-95 and within walking distance of downtown Waterville shops, bars, and restaurants.
Built in 1910, the home sits on a 0.18-acre corner lot and includes 1,838 square feet of space with a full basement that has both interior and walk-out access. The property has a new shingle roof and is served by public water and public sewer. Exterior materials include wood frame construction with vinyl siding.
Heating is supported by heat pumps, electric baseboard, and oil hot water, with cooling provided by heat pumps. Flooring includes vinyl and laminate. Additional features include a stream waterfront feature and paved, off-street parking. The home is in-town with easy access to I-95 and within walking distance of downtown Waterville shops, bars, and restaurants.
Key Highlights
- Two separate 2‑bedroom, 1‑bath units
- First‑floor unit renovated with stainless‑steel appliances and heat pumps
- New shingle roof
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
$17,905
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
8.53%
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%
$358,100
$358.1K
Cap Rate 7%
$255,786
$255.8K
Cap Rate 9%
$198,944
$198.9K
Market Conditions
NOI Build-Up for 1,838 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
$33.1K $18.00/SF
− Vacancy
−$529 −$0.29/SF
EGI
$32.6K $17.71/SF
− OpEx
−$14.6K −$7.97/SF
NOI
$17.9K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$358,100
Cap Rate 7%
$255,786
Cap Rate 9%
$198,944
Alternative Uses
Best Use
Multifamily LT 5
$293.2K
$256.6K – $342.1K
NOI $20,526 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$255.8K
$223.8K – $298.4K
NOI $17,905 @ 7.0% cap · market cap 8.53%
Theoretical Best
Warehouse
$2.74M
$2.40M – $3.20M
NOI $191,948 @ 7.0% cap · market cap 91.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
453
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 - Two separate 2-bedroom, 1-bath units in a duplex with a renovated first-floor unit, new roof, and heat pumps.
Where is this duplex located?
The property is located at 63 Summer Street Waterville, ME.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bath units; First‑floor unit renovated with stainless‑steel appliances and heat pumps; New shingle roof
