Two-Unit Duplex with Updated
New
For Sale
$359,000
2-1414 State Street, Veazie, ME 04401
Vacant units offer flexibility for rental use, owner occupancy, or extended-family living.
Property Size2,450 SF
Lot Size1.51 Acres
Price / SF$146.53
Days on Market4
Property Features for 2-1414 State Street
General Information
Standard status
Active
Size
2,450 SF
Lot size
1.51 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,285
Building Details
Buildings
1
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Elaine Pelletier · License #BR909757
(207) 852-4021
Source:
Exprealty
Added: Oct 29
Changed: Oct 31
Last Checked: Oct 31 at 3:26AM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Investment Insights
Based on property information with market context.
This duplex contains two separate residences and 2,450 square feet of living area. The main-floor unit has two bedrooms and two full bathrooms; upstairs, a three-bedroom unit includes one full bathroom. An updated kitchen and porch are among the property’s features, and both units are vacant.
The home sits on a 1.51-acre double lot in Veazie, Maine, near the University of Maine in Orono. Shopping, dining, and other amenities in Bangor are also nearby.
The home sits on a 1.51-acre double lot in Veazie, Maine, near the University of Maine in Orono. Shopping, dining, and other amenities in Bangor are also nearby.
Key Highlights
- Two‑unit duplex with 2,450 square feet of living area
- Main‑floor residence has 2 bedrooms and 2 full bathrooms
- Upper residence has 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,453
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,060
$449.1K
Cap Rate 7%
$320,757
$320.8K
Cap Rate 9%
$249,478
$249.5K
Market Conditions
NOI Build-Up for 2,450 SF
Gross rent
$33.8K $13.80/SF
− Vacancy
−$1.7K −$0.71/SF
EGI
$32.1K $13.09/SF
− OpEx
−$9.6K −$3.93/SF
NOI
$22.5K $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 Rate 5%
$449,060
Cap Rate 7%
$320,757
Cap Rate 9%
$249,478
Alternative Uses
Best Use
Multifamily LT 5
$320.8K
$280.7K – $374.2K
NOI $22,453 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$295.0K
$258.1K – $344.2K
NOI $20,651 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$791.3K
$692.4K – $923.2K
NOI $55,390 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant units offer flexibility for rental use, owner occupancy, or extended-family living.
Where is this duplex located?
The property is located at 2-1414 State Street Veazie, ME.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,450 square feet of living area; Main‑floor residence has 2 bedrooms and 2 full bathrooms; Upper residence has 3 bedrooms and 1 full bathroom
