Building Details

Year built 1850

Listing Agency: Bangor, Maine · Better Homes and Gardens Real Estate i***@Masiello.com Show Phone

Listed By: Elaine Pelletier · License #BR909757 Show Phone

Added: Oct 28 Changed: Oct 29 Last Checked: Nov 2 at 1:06AM

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MLS# 1686054

Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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.

Built in 1850, this 2,450-square-foot duplex contains two residences with a combined five bedrooms and three full bathrooms. The main-floor unit has two bedrooms and two bathrooms, while the upper-level residence includes three bedrooms and one bathroom. An updated kitchen and porch are among the property’s features. Both units are vacant.

The property occupies 1.51 acres in Veazie, near the University of Maine in Orono. Shopping, dining, and other amenities in Bangor are also nearby.

Key Highlights

• Two‑unit property with a total of five bedrooms and three full bathrooms
• Main‑floor residence has two bedrooms and two full bathrooms; upper unit has three bedrooms and one full bathroom
• 2,450 square feet on 1.51 acres

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

Is this asking price fair?

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 (±1% cap)

NOI $22,453 @ 7.0% cap · market cap 6.25%

Second Best

Apartment 5plus

$295.0K

$258.1K – $344.2K (±1% cap)

NOI $20,651 @ 7.0% cap · market cap 5.75%

Theoretical Best

Office A

$791.3K

$692.4K – $923.2K (±1% cap)

NOI $55,390 @ 7.0% cap · market cap 15.43%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

70

Businesses Nearby

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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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Two-Unit Duplex with Updated Kitchen

2-1414 State Street, Veazie, ME 04401

$359,000

2,450 SF

View details

Renovated Colonial Duplex

1409 State Street, Veazie, ME 04401

$439,900

2,240 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - The vacant building contains a two-bedroom main-floor residence and a three-bedroom unit upstairs.

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 a total of five bedrooms and three full bathrooms; Main‑floor residence has two bedrooms and two full bathrooms; upper unit has three bedrooms and one full bathroom; 2,450 square feet on 1.51 acres