Duplex with Two Detached
For Sale
$499,900
14 Goddard Street, Lisbon, ME 04252
Two residences share an in-town lot with separate kitchens, baths, parking, and defined yard areas.
Property Size2,381 SF
Price / SF$209.95
Days on Market342
Property Features for 14 Goddard Street
General Information
Standard status
Active
Size
2,381 SF
Property subtype
Multi-Family
Zoning
General Residential
Taxes and HOA fees
Annual Taxes
$4,811
Amenities
Heat Pump
Pellet Stove, Heat Pump, Forced Air, Baseboard
2
Interior, Sump Pump, Unfinished
Wood
3
Yes
2.50
2.10
Pitched, Shingle
No
Vinyl Siding, Wood Frame
Building Details
Year Built
1897
Units
2
Listing Agency:
Tim Dunham Realty
(207) 729-7297
Listed By:
SHAWN KERWIN
(207) 729-7297
Source:
Compass
Added: Sep 24, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:40AM
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 Tim Dunham Realty
Investment Insights
Based on property information with market context.
This duplex offering includes two detached homes on one lot, totaling approximately 2,381 SF. The larger residence provides 3 bedrooms, 1 bath, and approximately 1,423 SF; the second offers 2 bedrooms, 1.5 baths, and approximately 956 SF. Both homes include kitchens with dishwashers, electric baseboard heat, updated insulation, and unfinished basements with spray foam insulation, vapor barriers, sump pump systems, and waterproofing improvements.
Built in 1897, the properties retain period details such as original inlaid wood floors and tin ceiling accents in the larger home. The second residence features refinished wood flooring and renovated kitchen and bath areas. Heating includes a heat pump and pellet stove in the larger home and an oil-fired furnace in the second, with additional electric baseboard systems.
The site includes off-street parking, a newer permitted gravel parking pad, and chain-link fencing with privacy slats. The homes have been used as apartments and are currently progressing through condominiumization, allowing for potential individual condo sales.
Built in 1897, the properties retain period details such as original inlaid wood floors and tin ceiling accents in the larger home. The second residence features refinished wood flooring and renovated kitchen and bath areas. Heating includes a heat pump and pellet stove in the larger home and an oil-fired furnace in the second, with additional electric baseboard systems.
The site includes off-street parking, a newer permitted gravel parking pad, and chain-link fencing with privacy slats. The homes have been used as apartments and are currently progressing through condominiumization, allowing for potential individual condo sales.
Key Highlights
- Two detached residences totaling approximately 2,381 SF
- 14A includes 3 bedrooms, 1 bath, and approximately 1,423 SF
- 14B includes 2 bedrooms, 1.5 baths, and approximately 956 SF
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
$23,484
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
4.70%
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%
$469,680
$469.7K
Cap Rate 7%
$335,486
$335.5K
Cap Rate 9%
$260,933
$260.9K
Market Conditions
NOI Build-Up for 2,381 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
$34.0K $14.28/SF
− Vacancy
−$452 −$0.19/SF
EGI
$33.5K $14.09/SF
− OpEx
−$10.1K −$4.23/SF
NOI
$23.5K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /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%
$469,680
Cap Rate 7%
$335,486
Cap Rate 9%
$260,933
Alternative Uses
Best Use
Multifamily LT 5
$335.5K
$293.6K – $391.4K
NOI $23,484 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$318.7K
$278.9K – $371.9K
NOI $22,312 @ 7.0% cap · market cap 4.46%
Theoretical Best
Warehouse
$4.23M
$3.70M – $4.93M
NOI $296,018 @ 7.0% cap · market cap 59.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 04252, ME
4,876
Population
2,046
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
97%
High-School Grad
11.1 sq mi
ZIP Area
439
Density / Sq Mi
$72,303
Median Household Income
$45,737
Median Earnings
$1,030
Median Rent
$245,800
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 residences share an in-town lot with separate kitchens, baths, parking, and defined yard areas.
Where is this duplex located?
The property is located at 14 Goddard Street Lisbon, ME.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two detached residences totaling approximately 2,381 SF; 14A includes 3 bedrooms, 1 bath, and approximately 1,423 SF; 14B includes 2 bedrooms, 1.5 baths, and approximately 956 SF
