Two-Unit Duplex Near
For Sale
$570,000
124 Brackett Street, Westbrook, ME 04092
Both residences are leased through September 2026, providing existing occupancy for the next owner.
Property Size2,071 SF
Price / SF$275.23
Days on Market531
Property Features for 124 Brackett Street
General Information
Standard status
Active
Size
2,071 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,571
Amenities
Forced Air
2
Full, Doghouse, Unfinished
Vinyl, Tile, Laminate
No
Yes
Washer Hookup
1st Floor Bedroom
2.00
Shingle
Clapboard, Wood Frame
Building Details
Year Built
1940
Units
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(207) 214-3763
Listed By:
Amy Sheehan
(207) 214-3763
Source:
Compass
Added: Mar 19, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:46AM
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
Investment Insights
Based on property information with market context.
Located at 124 Brackett Street in Westbrook, Maine, this two-unit duplex contains 2,071 square feet and was constructed in 1940. The property features forced-air heating, wood-frame construction, and a combination shingle and clapboard exterior. Off-street parking adds functional convenience for residents.
Both units are leased to long-term tenants through September 2026. The property is positioned near downtown Westbrook, with shops, restaurants, and other area amenities nearby. Its two-unit configuration and existing leases provide a straightforward residential income property profile for an investor or an owner-occupant.
Both units are leased to long-term tenants through September 2026. The property is positioned near downtown Westbrook, with shops, restaurants, and other area amenities nearby. Its two-unit configuration and existing leases provide a straightforward residential income property profile for an investor or an owner-occupant.
Key Highlights
- Two‑unit duplex containing 2,071 square feet
- Both units leased through Sept 2026
- Constructed in 1940
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
$36,598
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
6.42%
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%
$731,960
$732.0K
Cap Rate 7%
$522,829
$522.8K
Cap Rate 9%
$406,644
$406.6K
Market Conditions
NOI Build-Up for 2,071 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
$55.9K $27.00/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$52.3K $25.25/SF
− OpEx
−$15.7K −$7.57/SF
NOI
$36.6K $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 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%
$731,960
Cap Rate 7%
$522,829
Cap Rate 9%
$406,644
Alternative Uses
Best Use
Multifamily LT 5
$522.8K
$457.5K – $610.0K
NOI $36,598 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$486.4K
$425.6K – $567.5K
NOI $34,048 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$569.2K
$498.1K – $664.1K
NOI $39,845 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
647
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
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 - Both residences are leased through September 2026, providing existing occupancy for the next owner.
Where is this duplex located?
The property is located at 124 Brackett Street Westbrook, ME.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Two‑unit duplex containing 2,071 square feet; Both units leased through Sept 2026; Constructed in 1940
