Multi-Unit Apartment Building with
For Sale
$595,000
11 Winter Street, Waterville, ME 04901
Updated interiors, paved parking, and an attached owner’s residence create a flexible multifamily configuration.
Property Size3,941 SF
Price / SF$150.98
Days on Market39
Property Features for 11 Winter Street
General Information
Standard status
Active
Size
3,941 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Century 21 Nason Realty
Listed By:
Kim Moxcey
(603) 866-2942
Source:
Profoundrealestate
Added: Jun 29
Changed: Jul 31
Last Checked: Aug 6 at 3:50AM
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 Century 21 Nason Realty
Investment Insights
Based on property information with market context.
This 3,941-square-foot apartment building, constructed in 1900, offers updated interiors and an attached three-car garage. The owner’s residence is a two-level apartment with a second-floor living room opening to an office, a modern kitchen, large primary bedroom, two baths, and a deck. Unit 2 includes a newer kitchen and updated bathroom. The building is heated with propane and includes paved parking.
Located at 11 Winter Street in Waterville, the property is within walking distance of downtown. The source information identifies differing unit counts, so no single total is represented here. A 48-hour notice is preferred for showings.
Located at 11 Winter Street in Waterville, the property is within walking distance of downtown. The source information identifies differing unit counts, so no single total is represented here. A 48-hour notice is preferred for showings.
Key Highlights
- 3,941‑square‑foot apartment building constructed in 1900
- Attached 3‑car garage with owner’s two‑level apartment
- Owner’s unit includes 2 baths, office, deck, and modern kitchen
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
$38,392
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
6.45%
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%
$767,840
$767.8K
Cap Rate 7%
$548,457
$548.5K
Cap Rate 9%
$426,578
$426.6K
Market Conditions
NOI Build-Up for 3,941 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
$70.9K $18.00/SF
− Vacancy
−$1.1K −$0.29/SF
EGI
$69.8K $17.71/SF
− OpEx
−$31.4K −$7.97/SF
NOI
$38.4K $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%
$767,840
Cap Rate 7%
$548,457
Cap Rate 9%
$426,578
Alternative Uses
Best Use
Apartment 5plus
$548.5K
$479.9K – $639.9K
NOI $38,392 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.88M
$5.14M – $6.86M
NOI $411,571 @ 7.0% cap · market cap 69.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
975
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?
Apartment building - Updated interiors, paved parking, and an attached owner’s residence create a flexible multifamily configuration.
Where is this apartment building located?
The property is located at 11 Winter Street Waterville, ME.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,941‑square‑foot apartment building constructed in 1900; Attached 3‑car garage with owner’s two‑level apartment; Owner’s unit includes 2 baths, office, deck, and modern kitchen
