Building Details

Year Built 1890

Listed By: Crown Lakes Realty Show Phone

Source: Crownlakesrealty

Added: Sep 15 Last Checked: Sep 15 at 5:56AM

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Investment Insights

Based on property information with market context.

This duplex at 128 N Main St offers 2,268 square feet of space and dates to 1890. Exterior work includes vinyl siding, a new roof, new windows, replacement exterior doors, new decks, and updated entryways. Inside, the building has been gutted and reframed, leaving the interior layout and finishes for the next owner to complete.

The property is in Monmouth, Maine, with access to surrounding communities. Its two-unit configuration and unfinished interior provide flexibility for creating rental residences or an owner-occupied multifamily property, subject to applicable requirements and approvals.

Key Highlights

• Duplex with 2,268 square feet
• 1890 construction
• New vinyl siding, roof, windows, and exterior doors

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

$22,094

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

8.87%

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%

$441,880 $441.9K

Cap Rate 7%

$315,629 $315.6K

Cap Rate 9%

$245,489 $245.5K

Market Conditions

NOI Build-Up for 2,268 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

$40.8K $18.00/SF

− Vacancy

−$653 −$0.29/SF

EGI

$40.2K $17.71/SF

− OpEx

−$18.1K −$7.97/SF

NOI

$22.1K $9.74/SF

Area

Kennebec County, ME

Vacancy

1.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

45.00%

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%

$441,880

Cap Rate 7%

$315,629

Cap Rate 9%

$245,489

Alternative Uses

Best Use

Multifamily LT 5

$361.8K

$316.6K – $422.1K (±1% cap)

NOI $25,328 @ 7.0% cap · market cap 10.17%

Second Best

Apartment 5plus

$315.6K

$276.2K – $368.2K (±1% cap)

NOI $22,094 @ 7.0% cap · market cap 8.87%

Theoretical Best

Warehouse

$3.38M

$2.96M – $3.95M (±1% cap)

NOI $236,855 @ 7.0% cap · market cap 95.12%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Parts Store Electrical Service Pet Grooming Service Grocery & Convenience Store Real Estate Agency Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 04265, ME

903

Population

385

Households

2.3

Avg Household Size

44

Median Age

26%

College-Educated

89%

High-School Grad

5.9 sq mi

ZIP Area

153

Density / Sq Mi

$43,712

Median Household Income

$26,086

Median Earnings

$1,350

Median Rent

$163,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with completed exterior improvements and an unfinished interior ready for final design and buildout.

Where is this duplex located?

The property is located at 128 N Main St Monmouth, ME.

What is the asking price?

The asking price for this property is $249,000.

What are key features of this property?

This property features: Duplex with 2,268 square feet; 1890 construction; New vinyl siding, roof, windows, and exterior doors