Two-Unit
New
For Sale
$299,900
1 Mount Pleasant St, Waterville, ME 04901
Two residential units offer distinct one- to two-bedroom layouts, each with one bathroom.
Property Size2,031 SF
Price / SF$147.66
Days on Market4
Property Features for 1 Mount Pleasant St
General Information
Standard status
Active
Size
2,031 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1-2BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Keller Williams Realty
(207) 873-9013
Listed By:
Francois Rodrigue
Source:
603luxury
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 10:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 2,031-square-foot property built in 1920. One unit has one to two bedrooms and one bathroom, while the second provides two bedrooms and one bathroom. The configuration supports several ownership approaches, including living in one unit while renting the other or operating the property as a two-unit rental asset.
The property is located in Waterville, Maine, at 1 Mount Pleasant St. The surrounding area includes shopping, dining, schools, and other local amenities. The property information also identifies the building as suitable for updates and improvements, providing a basis for future repositioning within its existing duplex configuration.
The property is located in Waterville, Maine, at 1 Mount Pleasant St. The surrounding area includes shopping, dining, schools, and other local amenities. The property information also identifies the building as suitable for updates and improvements, providing a basis for future repositioning within its existing duplex configuration.
Key Highlights
- Two‑unit duplex with 2,031 SF of property size
- One unit offers 1‑2 bedrooms and 1 bathroom
- Second unit includes 2 bedrooms and 1 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
$22,681
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
7.56%
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%
$453,620
$453.6K
Cap Rate 7%
$324,014
$324.0K
Cap Rate 9%
$252,011
$252.0K
Market Conditions
NOI Build-Up for 2,031 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
$32.9K $16.20/SF
− Vacancy
−$500 −$0.25/SF
EGI
$32.4K $15.95/SF
− OpEx
−$9.7K −$4.79/SF
NOI
$22.7K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$453,620
Cap Rate 7%
$324,014
Cap Rate 9%
$252,011
Alternative Uses
Best Use
Multifamily LT 5
$324.0K
$283.5K – $378.0K
NOI $22,681 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$282.6K
$247.3K – $329.8K
NOI $19,785 @ 7.0% cap · market cap 6.60%
Theoretical Best
Warehouse
$3.03M
$2.65M – $3.54M
NOI $212,104 @ 7.0% cap · market cap 70.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
153
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 residential units offer distinct one- to two-bedroom layouts, each with one bathroom.
Where is this duplex located?
The property is located at 1 Mount Pleasant St Waterville, ME.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,031 SF of property size; One unit offers 1‑2 bedrooms and 1 bathroom; Second unit includes 2 bedrooms and 1 bathroom
