Renovated Two-Unit
For Sale
$325,999
10 Lowell Court, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size2,016 SF
Lot Size0.05 Acres
Price / SF$161.71
Days on Market23
Property Features for 10 Lowell Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Centreville District
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Basement
Unfinished, Full
Lot features
Open, Level, Intown, Near Shopping
Standard status
Active
Size
2,016 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2249
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating)
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Franklin Katunda
(207) 518-8371
Added: Aug 17
Changed: Sep 4
Last Checked: Sep 8 at 4:06AM
MLS# 1676388
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 renovated duplex contains two units within a 2,016-square-foot wood-frame building constructed in 1900. The property has vinyl siding, laminate flooring, a shingle roof, a basement, and two bathrooms. Public water and public sewer serve the building, while oil-fired hot-water heating provides the heat source. The lot encompasses 0.05 acres and is located in the Centreville District.
The property is at 10 Lowell Court in Lewiston, adjacent to St. Mary's Regional Medical Center and Central Maine Medical Center. Central Maine Medical Center is approximately 10 minutes away, and Bates College is approximately 5 minutes away. Its Lewiston location places the building within the Androscoggin County market.
The property is at 10 Lowell Court in Lewiston, adjacent to St. Mary's Regional Medical Center and Central Maine Medical Center. Central Maine Medical Center is approximately 10 minutes away, and Bates College is approximately 5 minutes away. Its Lewiston location places the building within the Androscoggin County market.
Key Highlights
- Two‑unit duplex with 2,016 square feet of building area
- Renovated wood‑frame construction with vinyl siding
- 0.05‑acre lot in the Centreville District
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
$19,884
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
6.10%
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%
$397,680
$397.7K
Cap Rate 7%
$284,057
$284.1K
Cap Rate 9%
$220,933
$220.9K
Market Conditions
NOI Build-Up for 2,016 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
$28.8K $14.28/SF
− Vacancy
−$383 −$0.19/SF
EGI
$28.4K $14.09/SF
− OpEx
−$8.5K −$4.23/SF
NOI
$19.9K $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%
$397,680
Cap Rate 7%
$284,057
Cap Rate 9%
$220,933
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.4K
NOI $19,884 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$269.9K
$236.2K – $314.9K
NOI $18,892 @ 7.0% cap · market cap 5.80%
Theoretical Best
Warehouse
$3.58M
$3.13M – $4.18M
NOI $250,640 @ 7.0% cap · market cap 76.88%
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
2,333
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Wood-frame duplex with public water, public sewer, laminate flooring, and oil-fired hot-water heating.
Where is this duplex located?
The property is located at 10 Lowell Court Lewiston, ME.
What is the asking price?
The asking price for this property is $325,999.
What are key features of this property?
This property features: Two‑unit duplex with 2,016 square feet of building area; Renovated wood‑frame construction with vinyl siding; 0.05‑acre lot in the Centreville District
