Two-Unit Multifamily
For Sale
$299,900
1 Mount Pleasant Street, Waterville, ME 04901
Multi-Family, Waterville, ME
Property Size2,031 SF
Lot Size0.37 Acres
Price / SF$147.66
Days on Market51
Property Features for 1 Mount Pleasant Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Basement
Unfinished, Full
Lot features
Level, Neighborhood
Standard status
Active
Size
2,031 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4097
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil, Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile, Carpet, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Francois Rodrigue
(207) 873-9013
Added: Aug 3
Changed: Sep 12
Last Checked: Sep 22 at 6:06PM
MLS# 1674584
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 2,031-square-foot duplex was built in 1920 and contains two residential units. One unit offers one to two bedrooms and one bathroom, while the other includes two bedrooms and one bathroom. Interior finishes include tile, laminate, and carpet, with hot-water baseboard heating. The building has wood-frame construction, vinyl siding, and a shingle roof.
The property occupies 0.37 acres in Waterville, Maine, with public water and public sewer service. Zoned RB, it provides a two-unit residential configuration with a basement and separate bathrooms serving the units. Its location in Waterville places the property near shopping, dining, schools, and other local amenities.
The property occupies 0.37 acres in Waterville, Maine, with public water and public sewer service. Zoned RB, it provides a two-unit residential configuration with a basement and separate bathrooms serving the units. Its location in Waterville places the property near shopping, dining, schools, and other local amenities.
Key Highlights
- Two‑unit duplex with 2,031 square feet of building area
- Unit mix includes one 1‑2 bedroom unit and one 2‑bedroom unit
- Each unit includes 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
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with distinct residential units, public utilities, and a basement for additional property function.
Where is this duplex located?
The property is located at 1 Mount Pleasant Street 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 square feet of building area; Unit mix includes one 1‑2 bedroom unit and one 2‑bedroom unit; Each unit includes 1 bathroom
