Duplex with Separate
For Sale
$299,900
11 Church Street, Oakland, ME 04963
Multi-Family, Oakland, ME
Property Size2,600 SF
Lot Size0.07 Acres
Price / SF$115.35
Days on Market48
Property Features for 11 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential/Commer
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking features
On Street
Basement
Partial, Dirt Floor, Unfinished
Lot features
Rolling/ Sloping, Sidewalks, Intown, Near Shopping, Near Railroad
Standard status
Active
Size
2,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2225
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating)
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Tile, Laminate, Carpet, Linoleum
Building materials
Masonry, Wood Frame, Vinyl Siding
Roof type
Membrane
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Francois Rodrigue
(207) 873-9013
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 23 at 3:06AM
MLS# 1653128
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 in-town duplex at 11 Church Street offers two separate units with utilities split so tenants can pay their own heat and electricity. The property also includes additional office space with potential to be converted into expanded living space for the first-floor unit; buyers should verify permitted uses with local officials.
The home is supported by public water and public sewer service. Construction materials include masonry, wood frame, and vinyl siding, with a membrane roof. Heating is provided by propane, and recent updates include sewer lines replaced approximately four years ago and Rinnai heaters installed approximately two years ago.
Built in 1900 on a 0.07-acre lot, the property totals 2,600 square feet. Flooring includes laminate, tile, carpet, and linoleum, and parking is available on-street. Conveniently located just minutes from Waterville and close to local amenities, shopping, dining, and services.
The home is supported by public water and public sewer service. Construction materials include masonry, wood frame, and vinyl siding, with a membrane roof. Heating is provided by propane, and recent updates include sewer lines replaced approximately four years ago and Rinnai heaters installed approximately two years ago.
Built in 1900 on a 0.07-acre lot, the property totals 2,600 square feet. Flooring includes laminate, tile, carpet, and linoleum, and parking is available on-street. Conveniently located just minutes from Waterville and close to local amenities, shopping, dining, and services.
Key Highlights
- Two‑unit duplex with separate utilities so tenants can pay heat and electricity
- 0.07‑acre lot with 2,600 SF built in 1900
- Public water and public sewer service
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
$25,328
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
8.45%
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%
$506,560
$506.6K
Cap Rate 7%
$361,829
$361.8K
Cap Rate 9%
$281,422
$281.4K
Market Conditions
NOI Build-Up for 2,600 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
$46.8K $18.00/SF
− Vacancy
−$749 −$0.29/SF
EGI
$46.1K $17.71/SF
− OpEx
−$20.7K −$7.97/SF
NOI
$25.3K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$506,560
Cap Rate 7%
$361,829
Cap Rate 9%
$281,422
Alternative Uses
Best Use
Multifamily LT 5
$414.8K
$363.0K – $483.9K
NOI $29,036 @ 7.0% cap · market cap 9.68%
Second Best
Apartment 5plus
$361.8K
$316.6K – $422.1K
NOI $25,328 @ 7.0% cap · market cap 8.45%
Theoretical Best
Warehouse
$3.88M
$3.39M – $4.53M
NOI $271,526 @ 7.0% cap · market cap 90.54%
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
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 04963, ME
7,358
Population
4,279
Households
1.7
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
51.1 sq mi
ZIP Area
144
Density / Sq Mi
$73,611
Median Household Income
$49,913
Median Earnings
$885
Median Rent
$228,200
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 - In-town duplex with separate utilities for each unit, plus added office space, on public water and sewer.
Where is this duplex located?
The property is located at 11 Church Street Oakland, 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 separate utilities so tenants can pay heat and electricity; 0.07‑acre lot with 2,600 SF built in 1900; Public water and public sewer service
