Renovated Two-Unit
For Sale
$425,000
7 & 9 Orange Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size2,985 SF
Lot Size0.48 Acres
Price / SF$142.38
Days on Market52
Property Features for 7 & 9 Orange Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NCA
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking features
Off Street
Basement
Full, Sump Pump, Unfinished
Lot features
Level, Sidewalks, Wooded, Intown, Near Shopping, Neighborhood
Standard status
Active
Size
2,985 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3599
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Propane (Heating), Zoned, Hot Water(Heating)
Water source
Public
Building Details
Year built
1883
Number of units
2
Flooring type
Vinyl
Building materials
Wood Frame, Shingle Siding, Other Exterior
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Fontaine Family-The Real Estate Leader
(207) 784-3800
Listed By:
Chad Doucette
(207) 357-3778
Added: Aug 6
Changed: Sep 14
Last Checked: Sep 26 at 9:06PM
MLS# 1675047
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 2,985-square-foot Colonial duplex, built in 1883, contains two vacant residences with a total of eight bedrooms. The first-floor unit has four bedrooms and one full bathroom, while the upper residence occupies two floors and includes four bedrooms and one-and-a-half bathrooms. Vinyl flooring, shingle siding, a shingle roof, and off-street parking are among the property’s existing features.
Major building updates include a new heating system and new electrical service throughout. Heating is provided by zoned hot-water baseboard systems using propane, with natural gas available on site for a potential future conversion. The sale also includes the adjoining 0.48-acre vacant lot. Public water and public sewer serve the property, which is identified with NCA zoning.
Major building updates include a new heating system and new electrical service throughout. Heating is provided by zoned hot-water baseboard systems using propane, with natural gas available on site for a potential future conversion. The sale also includes the adjoining 0.48-acre vacant lot. Public water and public sewer serve the property, which is identified with NCA zoning.
Key Highlights
- Two‑unit duplex with 2,985 square feet of building area
- Eight total bedrooms across two residences
- First‑floor unit has 4 bedrooms and 1 full bathroom
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
$29,441
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
6.93%
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%
$588,820
$588.8K
Cap Rate 7%
$420,586
$420.6K
Cap Rate 9%
$327,122
$327.1K
Market Conditions
NOI Build-Up for 2,985 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
$42.6K $14.28/SF
− Vacancy
−$567 −$0.19/SF
EGI
$42.1K $14.09/SF
− OpEx
−$12.6K −$4.23/SF
NOI
$29.4K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /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%
$588,820
Cap Rate 7%
$420,586
Cap Rate 9%
$327,122
Alternative Uses
Best Use
Multifamily LT 5
$420.6K
$368.0K – $490.7K
NOI $29,441 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 6.58%
Theoretical Best
Warehouse
$5.30M
$4.64M – $6.19M
NOI $371,111 @ 7.0% cap · market cap 87.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 04240, ME
37,121
Population
16,852
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
34.1 sq mi
ZIP Area
1,089
Density / Sq Mi
$56,558
Median Household Income
$36,734
Median Earnings
$954
Median Rent
$214,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Vacant duplex with updated systems, two spacious residences, and an adjoining lot included in the sale.
Where is this duplex located?
The property is located at 7 & 9 Orange Street Lewiston, ME.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,985 square feet of building area; Eight total bedrooms across two residences; First‑floor unit has 4 bedrooms and 1 full bathroom
