Renovated Duplex With New
For Sale
$289,000
15 Howe Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size2,512 SF
Lot Size0.11 Acres
Price / SF$115.05
Days on Market194
Property Features for 15 Howe Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Downtown Residential
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Basement
Full, Unfinished
Lot features
Other Site, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
2,512 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2704
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Other (Heating)
Water source
Public
Building Details
Year built
1887
Floors in Building
2
Number of units
2
Flooring type
Linoleum, Hardwood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Maine Real Estate Pros
(207) 200-8759
Listed By:
Stephen Morgan
(207) 754-2773
Added: Mar 27
Changed: Sep 15
Last Checked: Oct 6 at 1:06PM
MLS# 1646547
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.
Investment Insights
Based on property information with market context.
This wood-frame duplex contains 2,512 square feet with two residential units, each configured with three bedrooms and one full bathroom. Interior finishes include hardwood, linoleum, and carpet, while heating is provided by natural gas and hot water. The property also includes a basement and vinyl siding.
Recent improvements include a shingle roof installed at the end of August 2025, new siding, and additional remodeling. The second-floor unit has newly sanded hardwood floors. The first floor is currently rented, while the second floor is vacant. Public water and sewer serve the property, which was built in 1887 on 0.11 acres and is zoned Downtown Residential.
Recent improvements include a shingle roof installed at the end of August 2025, new siding, and additional remodeling. The second-floor unit has newly sanded hardwood floors. The first floor is currently rented, while the second floor is vacant. Public water and sewer serve the property, which was built in 1887 on 0.11 acres and is zoned Downtown Residential.
Key Highlights
- 2,512‑square‑foot duplex with two three‑bedroom, one‑bathroom units
- New shingle roof installed at the end of August 2025
- New siding and additional remodeling recently completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,776
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,520
$495.5K
Cap Rate 7%
$353,943
$353.9K
Cap Rate 9%
$275,289
$275.3K
Market Conditions
NOI Build-Up for 2,512 SF
Gross rent
$35.9K $14.28/SF
− Vacancy
−$477 −$0.19/SF
EGI
$35.4K $14.09/SF
− OpEx
−$10.6K −$4.23/SF
NOI
$24.8K $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 Rate 5%
$495,520
Cap Rate 7%
$353,943
Cap Rate 9%
$275,289
Alternative Uses
Best Use
Multifamily LT 5
$353.9K
$309.7K – $412.9K
NOI $24,776 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$336.3K
$294.3K – $392.3K
NOI $23,540 @ 7.0% cap · market cap 8.15%
Theoretical Best
Warehouse
$4.46M
$3.90M – $5.21M
NOI $312,305 @ 7.0% cap · market cap 108.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 04240, ME
37,121
Population
16,852
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
34.1 sq mi
ZIP Area
1,089
Density / Sq Mi
$56,558
Median Household Income
$36,734
Median Earnings
$954
Median Rent
$214,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms, one full bathroom, and access to public water and sewer.
Where is this duplex located?
The property is located at 15 Howe Street Lewiston, ME.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 2,512‑square‑foot duplex with two three‑bedroom, one‑bathroom units; New shingle roof installed at the end of August 2025; New siding and additional remodeling recently completed
