171 Walnut Street Lewiston, ME 04240
MULTI_FAMILY - Lewiston, ME
Property Features for 171 Walnut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NCA
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 1, Basement, Bathroom 3
- Parking features
- Open, Off Street
- Patio and Porch features
- Porch, Deck
- Interior features
- 1st Floor Bedroom, Bathtub, Shower, Storage
- Basement
- Unfinished, Full
- Standard status
- Active
- Size
- 3,124 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 25
- Tax Annual Amount
- 5050
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Hot Water(Heating), Oil, Other (Heating), Steam
- Cooling system
- Wall Unit(s)
- Water source
- Public
- Water front features
- Stream
Building Details
- Year built
- 1926
- Number of units
- 3
- Flooring type
- Wood, Carpet, Vinyl
- Building materials
- Wood Frame, Vinyl Siding, Wood Siding
- Roof type
- Shingle, Membrane
- Additional Structures
- Storage
Listing agent Deborah Meek (207) 553-2662
Listing office Keller Williams Realty 50 Sewall Street, Portland, ME (207) 879-9800
Listing date Jul 16, 2026
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.
Set on a rare double lot at 171 Walnut Street in Lewiston, this property provides abundant off-street parking for tenants and guests, along with a detached two-car garage for additional parking, storage, or workshop use. Zoning is listed as NCA.
With approximately 3,124 square feet of living area, the building is configured for stable in-place rental income, supported by the completed improvements and the flexible unit mix.
Key Highlights
- 3‑unit building built in 1926 with over 3,000 sq ft of living space
- Two 1‑bedroom units on the 1st floor plus a spacious 3‑bedroom apartment on the 2nd floor
- In‑unit laundry plus storage in each unit
Local 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 | $44.6k | $14.28 |
| − Vacancy | −$593 | −$0.19 |
| EGI | $44.0k | $14.09 |
| − OpEx | −$13.2k | −$4.23 |
| NOI | $30.8k | $9.86 |
