Two-Unit Residential Income
117 Shawmut Street Lewiston, ME 04240
For Sale
$380,000
MULTI_FAMILY - Lewiston, ME
Property Size2,350 SF
Lot Size0.11 Acres
Price / SF$161.70
Days on Market39
Property Features for 117 Shawmut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bathrooms
- 2
- Rooms
- Bathroom 1, Basement, Bathroom 2
- Patio and Porch features
- Porch
- Interior features
- 1st Floor Bedroom, Bathtub, Pantry, Shower
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 2,350 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2698
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Oil, Baseboard, Zoned
- Water source
- Public
Building Details
- Year built
- 1915
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl, Wood
- Building materials
- Wood Frame, Asbestos, Other Exterior
- Roof type
- Flat
Listing Agency:
Kre Brokerage Group
(207) 781-2958
Listed By:
Kim Carignan
(207) 807-5226
Added: Jun 17
Changed: Jul 7
Last Checked: Jul 25 at 1:06AM
MLS# 1665843
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 two-unit residential income property offers two 3-bedroom apartments, each with a spacious layout and high ceilings. Interior features include hardwood floors and dining rooms with built-in details. Recent improvements include new flooring in the second-floor apartment and fresh paint throughout the second unit. Additional upgrades include new second-floor windows and new decks with roofs, with deck space at both the front and rear for tenant use.
The property includes front parking and backyard decks on both floors. The lot size is 0.11 acres, with a total building size of 2,350 square feet. Located at 117 Shawmut Street in Lewiston, Maine, the property is zoned Residential in Androscoggin County.
The current configuration supports a variety of ownership strategies, including owner-occupancy or immediate rental income. The first-floor unit will be professionally cleaned and delivered vacant by July 1st, while the second-floor unit reflects the recent interior and exterior updates noted above. With two separate 3-bedroom units, this setup can appeal to tenants seeking larger homes within a straightforward two-unit building format.
The property includes front parking and backyard decks on both floors. The lot size is 0.11 acres, with a total building size of 2,350 square feet. Located at 117 Shawmut Street in Lewiston, Maine, the property is zoned Residential in Androscoggin County.
The current configuration supports a variety of ownership strategies, including owner-occupancy or immediate rental income. The first-floor unit will be professionally cleaned and delivered vacant by July 1st, while the second-floor unit reflects the recent interior and exterior updates noted above. With two separate 3-bedroom units, this setup can appeal to tenants seeking larger homes within a straightforward two-unit building format.
Key Highlights
- Solid 2‑unit property with two 3‑bedroom units
- First‑floor unit to be professionally cleaned and delivered vacant by July 1st
- New updates to the 2nd‑floor apartment include new flooring, fresh paint, and new 2nd‑floor windows
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.6k | $14.28 |
| − Vacancy | −$446 | −$0.19 |
| EGI | $33.1k | $14.09 |
| − OpEx | −$9.9k | −$4.23 |
| NOI | $23.2k | $9.86 |
2,350 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$331.1K
$289.7K – $386.3K
NOI $23,178 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$314.6K
$275.3K – $367.0K
NOI $22,022 @ 7.0% cap · market cap 5.80%
Theoretical Best
Warehouse
$4.17M
$3.65M – $4.87M
NOI $292,164 @ 7.0% cap · market cap 76.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two 3-bedroom units with large layouts, high ceilings, and recent updates, plus front and rear deck space.
Where is this duplex located?
The property is located at 117 Shawmut Street Lewiston, ME.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Solid 2‑unit property with two 3‑bedroom units; First‑floor unit to be professionally cleaned and delivered vacant by July 1st; New updates to the 2nd‑floor apartment include new flooring, fresh paint, and new 2nd‑floor windows
