Four-Unit Quadplex with New
New
For Sale
$459,900
17 Elm Street, Brewer, ME 04412
Multi-Family, Brewer, ME
Property Size3,056 SF
Lot Size0.25 Acres
Price / SF$150.49
Days on Market2
Property Features for 17 Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MDR-2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Basement, Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Off Street
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Shower
Basement
Unfinished, Full
Lot features
Open, Level, Intown, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Near Public Transit, Near Railroad
Standard status
Active
Size
3,056 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
5191
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Oil
Water source
Public
Amenities
shared washer and dryer
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Laminate, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Kortnie Mullins
(207) 991-4924
Added: Sep 15
Last Checked: Sep 16 at 4:06AM
MLS# 1680739
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 3,056-square-foot quadplex contains four two-bedroom units, with two residences on each level. Unit layouts include kitchens and living areas, while recent improvements include new flooring, fresh paint, and updated bathroom fixtures. A brand-new shingle roof, newer boiler, shared washer and dryer, two driveways, and off-street parking add practical functionality. The property was built in 1900 and has wood-frame construction with vinyl siding.
One unit is currently vacant, supporting an owner-occupant arrangement while the remaining units provide rental use. The property occupies 0.25 acres at 17 Elm Street in Brewer, with public water and public sewer. Zoning is MDR-2, and the Colonial-style building includes a basement and porch.
One unit is currently vacant, supporting an owner-occupant arrangement while the remaining units provide rental use. The property occupies 0.25 acres at 17 Elm Street in Brewer, with public water and public sewer. Zoning is MDR-2, and the Colonial-style building includes a basement and porch.
Key Highlights
- Four two‑bedroom units within a 3,056‑square‑foot quadplex
- One unit currently vacant for potential owner occupancy
- Brand‑new shingle roof and newer boiler
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,007
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,140
$560.1K
Cap Rate 7%
$400,100
$400.1K
Cap Rate 9%
$311,189
$311.2K
Market Conditions
NOI Build-Up for 3,056 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.2K $13.80/SF
− Vacancy
−$2.2K −$0.71/SF
EGI
$40.0K $13.09/SF
− OpEx
−$12.0K −$3.93/SF
NOI
$28.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$560,140
Cap Rate 7%
$400,100
Cap Rate 9%
$311,189
Alternative Uses
Best Use
Multifamily LT 5
$400.1K
$350.1K – $466.8K
NOI $28,007 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$368.0K
$322.0K – $429.3K
NOI $25,759 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$987.0K
$863.6K – $1.15M
NOI $69,090 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 04412, ME
9,672
Population
4,565
Households
2.1
Avg Household Size
43
Median Age
31%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
636
Density / Sq Mi
$51,490
Median Household Income
$35,700
Median Earnings
$984
Median Rent
$218,100
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?
Quadplex - All units offer two bedrooms, with shared laundry and off-street parking.
Where is this quadplex located?
The property is located at 17 Elm Street Brewer, ME.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Four two‑bedroom units within a 3,056‑square‑foot quadplex; One unit currently vacant for potential owner occupancy; Brand‑new shingle roof and newer boiler
