Victorian Duplex with Period
For Sale
$795,000
911 9-11 Summer St, Hallowell, ME 04347
Two separate residences combine historic character with updated kitchens and baths.
Property Size3,600 SF
Price / SF$220.83
Days on Market42
Property Features for 911 9-11 Summer St
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
McAllister Real Estate
(207) 837-3180
Listed By:
Kimberly Gleason
Source:
Soldbymichaelthomas
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 25 at 5:28AM
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 McAllister Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this 3,600-square-foot duplex retains Victorian-era character through ornate trim, decorative moldings, high ceilings, large windows, and original hardwood flooring. The property contains two spacious units with separate entrances, generous bedrooms, updated kitchens and baths, and access to an expansive porch and private yard.
Located at 911 9-11 Summer St in Hallowell, Maine, the home is positioned near shops, dining, schools, and transportation. The two-unit layout supports owner occupancy with an additional residence, multigenerational living, or use as a residential income property.
Located at 911 9-11 Summer St in Hallowell, Maine, the home is positioned near shops, dining, schools, and transportation. The two-unit layout supports owner occupancy with an additional residence, multigenerational living, or use as a residential income property.
Key Highlights
- Two‑unit Victorian duplex built in 1900
- 3,600 square feet with two spacious residences
- Separate entrances provide privacy between units
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
$40,203
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
5.06%
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%
$804,060
$804.1K
Cap Rate 7%
$574,329
$574.3K
Cap Rate 9%
$446,700
$446.7K
Market Conditions
NOI Build-Up for 3,600 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
$58.3K $16.20/SF
− Vacancy
−$886 −$0.25/SF
EGI
$57.4K $15.95/SF
− OpEx
−$17.2K −$4.79/SF
NOI
$40.2K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$804,060
Cap Rate 7%
$574,329
Cap Rate 9%
$446,700
Alternative Uses
Best Use
Multifamily LT 5
$574.3K
$502.5K – $670.1K
NOI $40,203 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$501.0K
$438.4K – $584.5K
NOI $35,070 @ 7.0% cap · market cap 4.41%
Theoretical Best
Warehouse
$5.37M
$4.70M – $6.27M
NOI $375,960 @ 7.0% cap · market cap 47.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine historic character with updated kitchens and baths.
Where is this duplex located?
The property is located at 911 9-11 Summer St Hallowell, ME.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two‑unit Victorian duplex built in 1900; 3,600 square feet with two spacious residences; Separate entrances provide privacy between units
