Duplex with Attached Barn
124 College Avenue Waterville, ME 04901
For Sale
$275,000
Two-family duplex offering a 3-bedroom owner unit with side porch and an upstairs 3-bedroom apartment with two baths.
Property Size2,458 SF
Price / SF$111.88
Days on Market170
Property Features for 124 College Avenue
General Information
- Standard status
- Active
- Size
- 2,458 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing Agency:
Coldwell Banker Plourde Real Estate
(207) 649-2156
Listed By:
Rachel Anderson
(207) 649-2156
Source:
Compass
Added: Feb 4
Changed: Jul 23
Last Checked: Jul 23 at 6:41AM
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 Coldwell Banker Plourde Real Estate
Investment Insights
Based on property information with market context.
Located on College Avenue in Waterville, ME, this duplex offers a practical setup for owner-occupancy with rental income. The first-floor owner’s unit features three bedrooms, including a main suite, along with a welcoming side porch.
Upstairs, there is a three-bedroom apartment with two bathrooms. A full basement provides additional space, and the attached barn/garage offers substantial storage capacity for both residents.
Overall, the property is configured as a two-unit residential income duplex with dedicated interior living space on two levels and strong on-site storage through the basement and attached barn/garage.
Upstairs, there is a three-bedroom apartment with two bathrooms. A full basement provides additional space, and the attached barn/garage offers substantial storage capacity for both residents.
Overall, the property is configured as a two-unit residential income duplex with dedicated interior living space on two levels and strong on-site storage through the basement and attached barn/garage.
Key Highlights
- Two‑family duplex with a 3‑bedroom owner unit on the first floor and a 3‑bedroom apartment upstairs
- First‑floor unit features a primary bedroom with bath and a side porch
- Upstairs apartment includes 2 baths and a 3‑bedroom layout
Financial Insights For Apartment 5plus
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 | $44.2k | $18.00 |
| − Vacancy | −$708 | −$0.29 |
| EGI | $43.5k | $17.71 |
| − OpEx | −$19.6k | −$7.97 |
| NOI | $23.9k | $9.74 |
2,458 SF · lease $18.00/SF/yr · vacancy 1.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$392.1K
$343.1K – $457.5K
NOI $27,450 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,945 @ 7.0% cap · market cap 8.71%
Theoretical Best
Warehouse
$3.67M
$3.21M – $4.28M
NOI $256,697 @ 7.0% cap · market cap 93.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-family duplex offering a 3-bedroom owner unit with side porch and an upstairs 3-bedroom apartment with two baths.
Where is this duplex located?
The property is located at 124 College Avenue Waterville, ME.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑family duplex with a 3‑bedroom owner unit on the first floor and a 3‑bedroom apartment upstairs; First‑floor unit features a primary bedroom with bath and a side porch; Upstairs apartment includes 2 baths and a 3‑bedroom layout
