Two-Unit Duplex with Off-Street
For Sale
$579,000
124 Brackett Street, Westbrook, ME 04092
Multi-Family, Westbrook, ME
Property Size2,292 SF
Lot Size0.12 Acres
Price / SF$252.62
Days on Market68
Property Features for 124 Brackett Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
11
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Walk-in Closets, 1st Floor Bedroom, Bathtub, Shower
Fencing
Fenced
Basement
Full, Unfinished
Lot features
Near Country Club, Open, Sidewalks, Intown, Near Golf Course, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
2,292 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5637
Utilities
Sewer type
Public Sewer
Heating system
Oil, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
off-street parking
shared laundry
Building Details
Year built
1940
Number of units
2
Flooring type
Vinyl, Tile, Wood, Laminate
Building materials
Wood Frame, Asbestos, Shingle Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Waypoint Brokers Collective
(207) 804-2012
Listed By:
Brandon Gallagher
(207) 939-3170
Added: Jul 12
Changed: Sep 15
Last Checked: Sep 17 at 4:06PM
MLS# 1669075
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 1940 wood-frame duplex at 124 Brackett Street contains 2,292 square feet arranged as two 3-bedroom, 1-bathroom apartments. The units include high ceilings, natural light, generous living areas, oversized galley kitchens, and space for dining or a home office. Interior finishes include tile, wood, vinyl, and laminate flooring, while heating is provided by oil-fired forced air and cooling by window units. Off-street parking and a shared basement laundry area support the two-unit configuration.
The property occupies 0.12 acres in Westbrook, Maine, with public water and public sewer service. Additional exterior features include a porch, fenced areas, and a shingle roof. The property is fully leased and located near shopping, dining, schools, and major commuter routes.
The property occupies 0.12 acres in Westbrook, Maine, with public water and public sewer service. Additional exterior features include a porch, fenced areas, and a shingle roof. The property is fully leased and located near shopping, dining, schools, and major commuter routes.
Key Highlights
- Two 3‑bedroom, 1‑bathroom apartments
- 2,292 square feet on a 0.12‑acre lot
- Fully leased two‑unit property
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
$40,503
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
7.00%
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%
$810,060
$810.1K
Cap Rate 7%
$578,614
$578.6K
Cap Rate 9%
$450,033
$450.0K
Market Conditions
NOI Build-Up for 2,292 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
$61.9K $27.00/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$57.9K $25.25/SF
− OpEx
−$17.4K −$7.57/SF
NOI
$40.5K $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%
$810,060
Cap Rate 7%
$578,614
Cap Rate 9%
$450,033
Alternative Uses
Best Use
Multifamily LT 5
$578.6K
$506.3K – $675.1K
NOI $40,503 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$538.3K
$471.0K – $628.0K
NOI $37,682 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$630.0K
$551.2K – $735.0K
NOI $44,097 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased duplex with shared basement laundry, porch, and separate residential living spaces.
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 $579,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bathroom apartments; 2,292 square feet on a 0.12‑acre lot; Fully leased two‑unit property
