Renovated 2-Unit
New
For Sale
$495,000
161 Elm Street, North Berwick, ME 03906
Multi-Family, North Berwick, ME
Property Size1,428 SF
Lot Size1.00 Acre
Price / SF$346.64
Days on Market3
Property Features for 161 Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Village A
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Parking features
Off Street
Patio and Porch features
Porch, Deck
Interior features
Bathtub, Shower
Basement
Full, Unfinished
Lot features
Open, Level, Near Golf Course, Near Turnpike/ Interstate, Near Town, Near Railroad
Standard status
Active
Size
1,428 SF
Lot size
1.00 Acre
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
4102
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Propane (Heating)
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Laminate
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Buildings
1
Listing Agency:
CENTURY 21 Barbara Patterson · Century 21 Real Estate
(207) 384-4008
Listed By:
W Gerard Tatlock
(207) 752-0407
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 1685095
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 side-by-side duplex contains two residences, each with two bedrooms and 1.5 bathrooms. One unit has been renovated, and a roof replacement was completed in 2026. Each residence includes a private basement, deck, and one-car garage. The property was built in 1985 and has 1,428 square feet of building area on a 1-acre lot.
Both units are leased. The property is served by public water and sewer and is zoned Village A.
Both units are leased. The property is served by public water and sewer and is zoned Village A.
Key Highlights
- Two‑unit side‑by‑side duplex, with 1,428 square feet on a 1‑acre lot
- Each unit has two bedrooms and 1.5 bathrooms
- One residence has been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,174
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,480
$483.5K
Cap Rate 7%
$345,343
$345.3K
Cap Rate 9%
$268,600
$268.6K
Market Conditions
NOI Build-Up for 1,428 SF
Gross rent
$36.3K $25.44/SF
− Vacancy
−$1.8K −$1.26/SF
EGI
$34.5K $24.18/SF
− OpEx
−$10.4K −$7.25/SF
NOI
$24.2K $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%
$483,480
Cap Rate 7%
$345,343
Cap Rate 9%
$268,600
Alternative Uses
Best Use
Multifamily LT 5
$345.3K
$302.2K – $402.9K
NOI $24,174 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$315.3K
$275.9K – $367.8K
NOI $22,069 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$452.7K
$396.1K – $528.1K
NOI $31,687 @ 7.0% cap · market cap 6.40%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 03906, ME
4,990
Population
2,237
Households
2.2
Avg Household Size
44
Median Age
29%
College-Educated
95%
High-School Grad
38.3 sq mi
ZIP Area
130
Density / Sq Mi
$95,762
Median Household Income
$43,272
Median Earnings
$1,019
Median Rent
$385,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have leases in place, with individual garages, basements, and decks.
Where is this duplex located?
The property is located at 161 Elm Street North Berwick, ME.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex, with 1,428 square feet on a 1‑acre lot; Each unit has two bedrooms and 1.5 bathrooms; One residence has been renovated
