Two-Unit Duplex with
For Sale
$465,000
15 Westfield St, Biddeford, ME 04005
Each residence offers hardwood flooring, two bedrooms, one full bathroom, and access to full basement storage.
Property Size1,776 SF
Price / SF$261.82
Days on Market50
Property Features for 15 Westfield St
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
hardwood floors
full basement
green space
Building Details
Year Built
1940
Listing Agency:
Regency Realty Group
Listed By:
Carol Rico
(207) 615-2273
Source:
Soldbymichaelthomas
Added: Sep 13
Changed: Oct 25
Last Checked: Oct 19 at 11:10AM
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 Regency Realty Group
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Investment Insights
Based on property information with market context.
Built in 1940, this 1,776-square-foot duplex contains two residential units. Each unit provides two bedrooms and one full bathroom, with hardwood flooring throughout the property. A full basement adds storage space, while the outdoor green area provides room for gardening.
The property sits on a side street near downtown, UNE, the turnpike, and area beaches. Its two-unit configuration and established residential layout provide a straightforward multifamily ownership format.
The property sits on a side street near downtown, UNE, the turnpike, and area beaches. Its two-unit configuration and established residential layout provide a straightforward multifamily ownership format.
Key Highlights
- Two‑unit duplex built in 1940
- 1,776 square feet with two residential units
- Each unit has 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,065
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$601,300
$601.3K
Cap Rate 7%
$429,500
$429.5K
Cap Rate 9%
$334,056
$334.1K
Market Conditions
NOI Build-Up for 1,776 SF
Gross rent
$45.2K $25.44/SF
− Vacancy
−$2.2K −$1.26/SF
EGI
$42.9K $24.18/SF
− OpEx
−$12.9K −$7.25/SF
NOI
$30.1K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$601,300
Cap Rate 7%
$429,500
Cap Rate 9%
$334,056
Alternative Uses
Best Use
Multifamily LT 5
$429.5K
$375.8K – $501.1K
NOI $30,065 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$392.1K
$343.1K – $457.5K
NOI $27,447 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$563.0K
$492.6K – $656.8K
NOI $39,409 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
400
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers hardwood flooring, two bedrooms, one full bathroom, and access to full basement storage.
Where is this duplex located?
The property is located at 15 Westfield St Biddeford, ME.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1940; 1,776 square feet with two residential units; Each unit has 2 bedrooms and 1 full bathroom
