Cape Cod
2 Central Avenue, Waterville, ME 04901
For Sale
$250,000
Multi-Family, Waterville, ME
Property Size1,847 SF
Lot Size0.21 Acres
Price / SF$135.35
Days on Market121
Property Features for 2 Central Avenue
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Interior features
Basement
Appliances
Lot features
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Additional Structures
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Deborah Joseph
(207) 491-9179
Added: Jul 13
Changed: Nov 7
Last Checked: Nov 10 at 7:06PM
MLS# 1668039
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 Cape Cod duplex contains 1,847 square feet on a 0.21-acre lot and was built in 1890. The property is occupied by two long-term tenants and includes first-floor bedroom space, walk-in closets, storage, two bathrooms, and a basement. Recent property work includes interior painting, an exterior brick facade, exterior garage painting, and new appliances.
The property is located at 2 Central Avenue in Waterville, Maine, within the 04901 ZIP code. It has RB zoning, public water, and public sewer. Additional features include off-street parking, a porch, wood-frame construction, vinyl siding, fiberglass shingle roofing, and baseboard oil heat with zoned hot-water heating.
The property is located at 2 Central Avenue in Waterville, Maine, within the 04901 ZIP code. It has RB zoning, public water, and public sewer. Additional features include off-street parking, a porch, wood-frame construction, vinyl siding, fiberglass shingle roofing, and baseboard oil heat with zoned hot-water heating.
Key Highlights
- Duplex with 1,847 square feet on a 0.21‑acre lot
- Two long‑term tenants currently occupy the property
- Interior painting, exterior brick facade, and garage exterior painting completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,627
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,540
$412.5K
Cap Rate 7%
$294,671
$294.7K
Cap Rate 9%
$229,189
$229.2K
Market Conditions
NOI Build-Up for 1,847 SF
Gross rent
$29.9K $16.20/SF
− Vacancy
−$455 −$0.25/SF
EGI
$29.5K $15.95/SF
− OpEx
−$8.8K −$4.79/SF
NOI
$20.6K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,540
Cap Rate 7%
$294,671
Cap Rate 9%
$229,189
Alternative Uses
Best Use
Multifamily LT 5
$294.7K
$257.8K – $343.8K
NOI $20,627 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$257.0K
$224.9K – $299.9K
NOI $17,993 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$524.9K
$459.3K – $612.4K
NOI $36,746 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
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Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Waterville, ME
Properties on Market for Duplexes in Waterville
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The building includes off-street parking, a porch, and a tankless water heater.
Where is this duplex located?
The property is located at 2 Central Avenue Waterville, ME.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Duplex with 1,847 square feet on a 0.21‑acre lot; Two long‑term tenants currently occupy the property; Interior painting, exterior brick facade, and garage exterior painting completed
