Two-Unit Duplex with
New
For Sale
$219,000
20 Prospect Street, Waterville, ME 04901
Multi-Family, Waterville, ME
Property Size1,896 SF
Lot Size0.28 Acres
Price / SF$115.51
Days on Market2
Property Features for 20 Prospect Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Attic, Bathtub, Shower
Basement
Full, Sump Pump, Unfinished
Lot features
Near Country Club, Open, Level, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Neighborhood
Standard status
Active
Size
1,896 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
3383
Utilities
Sewer type
Public Sewer
Heating system
Oil, Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Wood, Carpet
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Sabra Hayden
(207) 692-6817
Added: Oct 16
Last Checked: Oct 17 at 3:06PM
MLS# 1684535
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 1,896-square-foot duplex contains two apartments on a 0.28-acre lot. Each unit includes two bedrooms, a full bathroom, two living rooms, and two porches. The upstairs apartment has a sheltered entrance. Built in 1900, the wood-frame building has wood siding and a shingle roof.
The property is served by public water and public sewer and is zoned RB. Long-term renters occupy the units.
The property is served by public water and public sewer and is zoned RB. Long-term renters occupy the units.
Key Highlights
- Two‑unit residential property with 1,896 square feet of building area
- Each apartment has 2 bedrooms, a full bath, 2 living rooms, and 2 porches
- Second‑floor apartment has a covered entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,470
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,400
$369.4K
Cap Rate 7%
$263,857
$263.9K
Cap Rate 9%
$205,222
$205.2K
Market Conditions
NOI Build-Up for 1,896 SF
Gross rent
$34.1K $18.00/SF
− Vacancy
−$546 −$0.29/SF
EGI
$33.6K $17.71/SF
− OpEx
−$15.1K −$7.97/SF
NOI
$18.5K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,400
Cap Rate 7%
$263,857
Cap Rate 9%
$205,222
Alternative Uses
Best Use
Multifamily LT 5
$302.5K
$264.7K – $352.9K
NOI $21,174 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$263.9K
$230.9K – $307.8K
NOI $18,470 @ 7.0% cap · market cap 8.43%
Theoretical Best
Warehouse
$2.83M
$2.48M – $3.30M
NOI $198,005 @ 7.0% cap · market cap 90.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each apartment has two bedrooms, a full bath, and separate porch areas.
Where is this duplex located?
The property is located at 20 Prospect Street Waterville, ME.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Two‑unit residential property with 1,896 square feet of building area; Each apartment has 2 bedrooms, a full bath, 2 living rooms, and 2 porches; Second‑floor apartment has a covered entrance
