Building Details

Year Built 1890

Listed By: Crown Lakes Realty Show Phone

Source: Crownlakesrealty

Added: Sep 15 Changed: Oct 26 Last Checked: Nov 1 at 5:06AM

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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 / Yr

$22,094

Cap Rate

9.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$441,880 $441.9K

Cap Rate 7%

$315,629 $315.6K

Cap Rate 9%

$245,489 $245.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,268 SF

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 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 10.42%

Second Best

Apartment 5plus

$315.6K

$276.2K – $368.2K (±1% cap)

NOI $22,094 @ 7.0% cap · market cap 9.09%

Theoretical Best

Warehouse

$3.38M

$2.96M – $3.95M (±1% cap)

NOI $236,855 @ 7.0% cap · market cap 97.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

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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

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 $243,000.

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