Renovated Duplex with New
For Sale
$224,444
12 School Street, Brewer, ME 04412
Two-unit property with hardwood flooring, updated kitchen improvements, and HDR zoning.
Property Size1,734 SF
Days on Market103
Property Features for 12 School Street
General Information
Standard status
Active
Size
1,734 SF
Property subtype
Multi Family Home
Zoning
HDR
Taxes and HOA fees
Annual Taxes
$3,138
Building Details
Building Size
1,734 SF
Year Built
1900
Units
2
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 299-5158
Listed By:
Scott Basso
(207) 299-5158
Source:
Startpoint
Added: May 16
Changed: Aug 21
Last Checked: Aug 25 at 8:44AM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This duplex at 12 School Street in Brewer, Maine, was constructed in 1900 and includes hardwood flooring throughout the residence. The kitchen has been newly renovated, adding updated functionality within the two-unit configuration. The property is classified under HDR zoning and is offered for sale.
The upstairs tenancy is scheduled to end by September 16, creating a change in occupancy for that portion of the building. Existing improvements include the hardwood floors and remodeled kitchen, providing a clear physical foundation for continued residential use. The address places the property on School Street in Brewer, with the building’s original construction date and duplex layout defining the asset.
The upstairs tenancy is scheduled to end by September 16, creating a change in occupancy for that portion of the building. Existing improvements include the hardwood floors and remodeled kitchen, providing a clear physical foundation for continued residential use. The address places the property on School Street in Brewer, with the building’s original construction date and duplex layout defining the asset.
Key Highlights
- Duplex configuration at 12 School Street, Brewer, ME 04412
- Built in 1900
- Hardwood flooring throughout the residence
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
$15,891
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
7.08%
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%
$317,820
$317.8K
Cap Rate 7%
$227,014
$227.0K
Cap Rate 9%
$176,567
$176.6K
Market Conditions
NOI Build-Up for 1,734 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
$23.9K $13.80/SF
− Vacancy
−$1.2K −$0.71/SF
EGI
$22.7K $13.09/SF
− OpEx
−$6.8K −$3.93/SF
NOI
$15.9K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$317,820
Cap Rate 7%
$227,014
Cap Rate 9%
$176,567
Alternative Uses
Best Use
Multifamily LT 5
$227.0K
$198.6K – $264.9K
NOI $15,891 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$208.8K
$182.7K – $243.6K
NOI $14,616 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$560.0K
$490.0K – $653.4K
NOI $39,202 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 04412, ME
9,672
Population
4,565
Households
2.1
Avg Household Size
43
Median Age
31%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
636
Density / Sq Mi
$51,490
Median Household Income
$35,700
Median Earnings
$984
Median Rent
$218,100
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 - Two-unit property with hardwood flooring, updated kitchen improvements, and HDR zoning.
Where is this duplex located?
The property is located at 12 School Street Brewer, ME.
What is the asking price?
The asking price for this property is $224,444.
What are key features of this property?
This property features: Duplex configuration at 12 School Street, Brewer, ME 04412; Built in 1900; Hardwood flooring throughout the residence
