Two-Unit Residential Income
132 North Street Westbrook, ME 04092
For Sale
$449,000
Solid two-family duplex with two separate units, each featuring a kitchen, living room, and dedicated bedrooms and bath.
Property Size1,901 SF
Price / SF$236.19
Days on Market147
Property Features for 132 North Street
General Information
- Standard status
- Active
- Size
- 1,901 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1901
Listing Agency:
The Flaherty Group
Listed By:
Timothy Flaherty
(603) 866-2942
Source:
Profoundrealestate
Added: Feb 26
Changed: Jul 23
Last Checked: Jul 23 at 1:53AM
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 The Flaherty Group
Investment Insights
Based on property information with market context.
This solid two-family residential income property includes two separate units. The first-floor unit features a kitchen, living room, two bedrooms, and one bath. The second-floor unit features a kitchen, living room, three bedrooms, and one bath.
The first-floor bath has been recently updated, and the property has two gas boilers that are each approximately three years old. There is also a deep back yard that may support expanded parking or recreation.
Located for convenient access to downtown Westbrook, Portland, and the lakes region, the property is described as appraised higher than the asking price.
The first-floor bath has been recently updated, and the property has two gas boilers that are each approximately three years old. There is also a deep back yard that may support expanded parking or recreation.
Located for convenient access to downtown Westbrook, Portland, and the lakes region, the property is described as appraised higher than the asking price.
Key Highlights
- Solid two‑family duplex built in 1901 with two separate units
- First‑floor unit: kitchen, living room, 2 bedrooms, and 1 bath
- Second‑floor unit: kitchen, living room, 3 bedrooms, and 1 bath
Financial Insights For Multifamily LT 5
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 | $51.3k | $27.00 |
| − Vacancy | −$3.3k | −$1.76 |
| EGI | $48.0k | $25.25 |
| − OpEx | −$14.4k | −$7.57 |
| NOI | $33.6k | $17.67 |
1,901 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$479.9K
$419.9K – $559.9K
NOI $33,594 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$446.5K
$390.7K – $520.9K
NOI $31,254 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$522.5K
$457.2K – $609.6K
NOI $36,574 @ 7.0% cap · market cap 8.15%
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 - Solid two-family duplex with two separate units, each featuring a kitchen, living room, and dedicated bedrooms and bath.
Where is this duplex located?
The property is located at 132 North Street Westbrook, ME.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Solid two‑family duplex built in 1901 with two separate units; First‑floor unit: kitchen, living room, 2 bedrooms, and 1 bath; Second‑floor unit: kitchen, living room, 3 bedrooms, and 1 bath
