Duplex With Six Garage
For Sale
$475,000
17 Willett Street, Biddeford, ME 04005
Two apartments sit above separately accessed garage bays, supporting diversified rental use and off-street parking.
Property Size1,832 SF
Price / SF$259.28
Days on Market10
Property Features for 17 Willett Street
General Information
Standard status
Active
Size
1,832 SF
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Building Details
Year Built
1940
Year Renovated
2019
Tenancy
Multi
Listing Agency:
Signature Homes Real Estate Group,LLC
Listed By:
Derek Goff Joseph Tomazin
(603) 866-2942
Source:
Profoundrealestate
Added: Jul 28
Changed: Jul 31
Last Checked: Aug 5 at 4:57AM
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 Signature Homes Real Estate Group,LLC
Investment Insights
Based on property information with market context.
This duplex includes two two-bedroom, one-bath apartments, each offering more than 900 square feet of living space. The residential units are positioned above six oversized garage bays that are leased separately, creating distinct residential and garage rental components. Low-maintenance vinyl siding, new windows and exterior doors installed in 2019, off-street parking, and separate garage access support convenient property management.
The property is located just minutes from downtown Biddeford, including restaurants, breweries, shops, parks, and the growing business district. It also offers access to the Maine Turnpike, Amtrak, and nearby beaches. The garage bays are described as suitable for storage, contractor space, workshops, vehicle parking, or other permitted uses.
The property is located just minutes from downtown Biddeford, including restaurants, breweries, shops, parks, and the growing business district. It also offers access to the Maine Turnpike, Amtrak, and nearby beaches. The garage bays are described as suitable for storage, contractor space, workshops, vehicle parking, or other permitted uses.
Key Highlights
- Two 2 bedroom, 1 bath apartments, each offering more than 900 square feet of living space
- Six oversized garage bays leased separately beneath the residential units
- New windows and exterior doors installed in 2019
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.6k | $25.44 |
| − Vacancy | −$2.3k | −$1.26 |
| EGI | $44.3k | $24.18 |
| − OpEx | −$13.3k | −$7.25 |
| NOI | $31.0k | $16.93 |
1,832 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$443.0K
$387.7K – $516.9K
NOI $31,013 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$404.5K
$353.9K – $471.9K
NOI $28,312 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$580.7K
$508.1K – $677.5K
NOI $40,651 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
323
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments sit above separately accessed garage bays, supporting diversified rental use and off-street parking.
Where is this duplex located?
The property is located at 17 Willett Street Biddeford, ME.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two 2 bedroom, 1 bath apartments, each offering more than 900 square feet of living space; Six oversized garage bays leased separately beneath the residential units; New windows and exterior doors installed in 2019
