Duplex with Updated
107 Lamb Street, Westbrook, ME 04092
For Sale
$575,000
Two residences each offer two bedrooms and one bathroom, with hardwood flooring throughout.
Property Size2,452 SF
Price / SF$234.50
Days on Market202
Property Features for 107 Lamb Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Bruce Kaplan
(207) 249-0516
Source:
Integrityhomesrealestategroup
Added: Apr 24
Changed: Nov 11
Last Checked: Nov 11 at 2:14AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,452-square-foot duplex, built in 1900, contains two units, each with two bedrooms and one bathroom. Hardwood floors run throughout, and the second-floor kitchen has been updated. Recent improvements include a new roof, windows, and water heater.
The property is in Westbrook, minutes from shopping, restaurants, and open spaces. Zoning is listed as 11.
The property is in Westbrook, minutes from shopping, restaurants, and open spaces. Zoning is listed as 11.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 2,452 square feet
- Hardwood flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,331
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,620
$866.6K
Cap Rate 7%
$619,014
$619.0K
Cap Rate 9%
$481,456
$481.5K
Market Conditions
NOI Build-Up for 2,452 SF
Gross rent
$66.2K $27.00/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$61.9K $25.25/SF
− OpEx
−$18.6K −$7.57/SF
NOI
$43.3K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,620
Cap Rate 7%
$619,014
Cap Rate 9%
$481,456
Alternative Uses
Best Use
Multifamily LT 5
$619.0K
$541.6K – $722.2K
NOI $43,331 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$575.9K
$503.9K – $671.9K
NOI $40,312 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$673.9K
$589.7K – $786.3K
NOI $47,175 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences each offer two bedrooms and one bathroom, with hardwood flooring throughout.
Where is this duplex located?
The property is located at 107 Lamb Street Westbrook, ME.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 2,452 square feet; Hardwood flooring throughout
