Duplex with In-Law
New
For Sale
$359,000
1414 State Street, Veazie, ME 04401
Multi-Family, Veazie, ME
Property Size2,450 SF
Lot Size1.51 Acres
Price / SF$146.53
Days on Market5
Property Features for 1414 State Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Patio and Porch features
Porch, Deck
Interior features
In-Law Apartment, 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Attic, Bathtub, Pantry
Basement
Full
Lot features
Open, Level, Intown, Near Public Transit
Standard status
Active
Size
2,450 SF
Lot size
1.51 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5285
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil, Hot Water(Heating)
Water source
Public
Amenities
porch
Building Details
Year built
1850
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Wood, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Buildings
1
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group · Better Homes and Gardens Real Estate
(207) 942-6711
Listed By:
Elaine Pelletier · License #BR909757
(207) 852-4021
Added: Oct 28
Last Checked: Nov 1 at 6:06AM
MLS# 1686054
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Colonial duplex dates to 1850 and contains 2,450 square feet on a 1.51-acre parcel in Veazie. The property has five bedrooms and three full bathrooms across two residences: a main-floor unit with two bedrooms and two baths, plus an upstairs unit with three bedrooms and one bath. An updated kitchen, porch, deck, attic, and basement are among the property’s features. Wood-frame construction, vinyl siding, and a shingle roof complete the exterior description.
Both units are vacant. Public water and public sewer serve the property, which is zoned RES. Its address is on State Street in Veazie, with the University of Maine in Orono and Bangor shopping, dining, and services noted nearby.
Both units are vacant. Public water and public sewer serve the property, which is zoned RES. Its address is on State Street in Veazie, with the University of Maine in Orono and Bangor shopping, dining, and services noted nearby.
Key Highlights
- Two‑unit property with 2,450 square feet
- 1.51 acres in Veazie
- Built in 1850; Colonial style
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,453
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,060
$449.1K
Cap Rate 7%
$320,757
$320.8K
Cap Rate 9%
$249,478
$249.5K
Market Conditions
NOI Build-Up for 2,450 SF
Gross rent
$33.8K $13.80/SF
− Vacancy
−$1.7K −$0.71/SF
EGI
$32.1K $13.09/SF
− OpEx
−$9.6K −$3.93/SF
NOI
$22.5K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,060
Cap Rate 7%
$320,757
Cap Rate 9%
$249,478
Alternative Uses
Best Use
Multifamily LT 5
$320.8K
$280.7K – $374.2K
NOI $22,453 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$295.0K
$258.1K – $344.2K
NOI $20,651 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$791.3K
$692.4K – $923.2K
NOI $55,390 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
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Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, with separate layouts that accommodate independent living arrangements.
Where is this duplex located?
The property is located at 1414 State Street Veazie, ME.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two‑unit property with 2,450 square feet; 1.51 acres in Veazie; Built in 1850; Colonial style
