Two-Unit Residential Income
65 Cram Avenue Lewiston, ME 04240
For Sale
$379,900
MULTI_FAMILY - Colonial - Lewiston, ME
Property Size1,630 SF
Lot Size0.20 Acres
Price / SF$233.07
Days on Market19
Property Features for 65 Cram Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NCA
- Bathrooms
- 2
- Rooms
- Bathroom 1, Basement, Bathroom 2
- Basement
- Full, Dirt Floor, Unfinished
- Standard status
- Active
- Size
- 1,630 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2609
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Natural Gas, Baseboard
- Water source
- Public
Building Details
- Year built
- 1940
- Number of units
- 2
- Flooring type
- Laminate, Wood
- Building materials
- Wood Frame, Asbestos
- Roof type
- Shingle
- Architectural style
- Colonial
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 784-3800
Listed By:
Billy Bergeron
(207) 576-6523
Added: Jul 7
Changed: Jul 21
Last Checked: Jul 25 at 1:06AM
MLS# 1669831
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 residential property offers two separate living spaces within a single colonial-style structure. The first-floor unit features two bedrooms and a beautifully updated kitchen, while the second-floor unit offers three bedrooms. Both units also retain original hardwood floors. Additional improvements include a newer boiler and natural gas heating. A detached two-car garage provides off-street parking.
The property is situated in a convenient neighborhood setting, with proximity to local amenities and easy access to the turnpike. Zoning is listed as NCA.
With two distinct bedroom layouts and updated interior elements in one unit, the property is well-suited for an owner-occupant or an investor seeking a straightforward two-unit configuration.
The property is situated in a convenient neighborhood setting, with proximity to local amenities and easy access to the turnpike. Zoning is listed as NCA.
With two distinct bedroom layouts and updated interior elements in one unit, the property is well-suited for an owner-occupant or an investor seeking a straightforward two-unit configuration.
Key Highlights
- 2‑unit Colonial‑style property built in 1940
- Second‑floor unit has 3 bedrooms; first‑floor unit has 2 bedrooms
- Updated kitchen in the first‑floor unit, plus some original hardwood floors in both units
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 | $23.3k | $14.28 |
| − Vacancy | −$310 | −$0.19 |
| EGI | $23.0k | $14.09 |
| − OpEx | −$6.9k | −$4.23 |
| NOI | $16.1k | $9.86 |
1,630 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$229.7K
$201.0K – $268.0K
NOI $16,077 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$218.2K
$190.9K – $254.6K
NOI $15,275 @ 7.0% cap · market cap 4.02%
Theoretical Best
Warehouse
$2.89M
$2.53M – $3.38M
NOI $202,650 @ 7.0% cap · market cap 53.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit property with natural gas heat, updated first-floor kitchen, and original hardwood floors plus a detached two-car garage.
Where is this duplex located?
The property is located at 65 Cram Avenue Lewiston, ME.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2‑unit Colonial‑style property built in 1940; Second‑floor unit has 3 bedrooms; first‑floor unit has 2 bedrooms; Updated kitchen in the first‑floor unit, plus some original hardwood floors in both units
