Two-Unit Duplex with Covered
For Sale
$219,000
20 Prospect St, Waterville, ME 04901
Two residential units each offer double living rooms and multiple porches.
Property Size1,896 SF
Lot Size0.25 Acres
Price / SF$115.51
Days on Market17
Property Features for 20 Prospect St
General Information
Standard status
Active
Size
1,896 SF
Lot size
0.25 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,382
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Sabra Hayden
(207) 692-6817
Source:
Exprealty
Added: Oct 16
Changed: Oct 27
Last Checked: Nov 1 at 8:44AM
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 EXP Realty
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Investment Insights
Based on property information with market context.
This 1,896-square-foot duplex contains two units, each arranged with two bedrooms, a full bath, two porches, and double living rooms. Architectural details distinguish the interior, while the second-floor unit has a covered entrance. Built in 1900, the building sits on a quarter-acre parcel in Waterville, Maine. Both units have long-term renters.
Key Highlights
- Two‑unit duplex on a 1/4‑acre parcel
- Each unit has 2 bedrooms and a full bath
- Double living rooms and 2 porches per unit
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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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
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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 - Two residential units each offer double living rooms and multiple porches.
Where is this duplex located?
The property is located at 20 Prospect St 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 duplex on a 1/4‑acre parcel; Each unit has 2 bedrooms and a full bath; Double living rooms and 2 porches per unit
