Duplex with Attached
22 Louise Avenue, Lewiston, ME 04240
For Sale
$395,000
Both residences include three bedrooms and private outdoor space, with laundry appliances provided in each unit.
Property Size3,136 SF
Price / SF$125.96
Days on Market91
Property Features for 22 Louise Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
in-unit washer/dryer
private balcony
private fenced yard
finished basement
1st Floor Bedroom
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
On Point Realty
Listed By:
Tasha Massey
(207) 754-5058
Source:
Amerorealty
Added: Aug 12
Changed: Nov 7
Last Checked: Nov 9 at 9:13PM
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 On Point Realty
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Investment Insights
Based on property information with market context.
This 3,136-square-foot duplex, built in 1937, contains two three-bedroom units and is zoned NCA. Each residence has its own washer and dryer and updated bathrooms. Unit 1 includes a finished basement and a fenced private yard; Unit 2 has a private balcony. The attached garage accommodates three cars. The roof was replaced in 2024, and the heating system was converted to natural gas. The property will be vacant at closing.
The property is in a residential neighborhood with highway access. Its two units have separate outdoor areas and distinct layouts, including a basement in one and a balcony in the other. Both residences offer three bedrooms and in-unit laundry.
The property is in a residential neighborhood with highway access. Its two units have separate outdoor areas and distinct layouts, including a basement in one and a balcony in the other. Both residences offer three bedrooms and in-unit laundry.
Key Highlights
- Two three‑bedroom units; 3,136 square feet total
- Attached three‑car garage
- Unit 1 has a finished basement and fenced private yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,931
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,620
$618.6K
Cap Rate 7%
$441,871
$441.9K
Cap Rate 9%
$343,678
$343.7K
Market Conditions
NOI Build-Up for 3,136 SF
Gross rent
$44.8K $14.28/SF
− Vacancy
−$596 −$0.19/SF
EGI
$44.2K $14.09/SF
− OpEx
−$13.3K −$4.23/SF
NOI
$30.9K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,620
Cap Rate 7%
$441,871
Cap Rate 9%
$343,678
Alternative Uses
Best Use
Multifamily LT 5
$441.9K
$386.6K – $515.5K
NOI $30,931 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$419.8K
$367.3K – $489.8K
NOI $29,387 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$975.3K
$853.4K – $1.14M
NOI $68,274 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 04240, ME
37,121
Population
16,852
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
34.1 sq mi
ZIP Area
1,089
Density / Sq Mi
$56,558
Median Household Income
$36,734
Median Earnings
$954
Median Rent
$214,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Lewiston, ME
Properties on Market for Duplexes in Lewiston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include three bedrooms and private outdoor space, with laundry appliances provided in each unit.
Where is this duplex located?
The property is located at 22 Louise Avenue Lewiston, ME.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two three‑bedroom units; 3,136 square feet total; Attached three‑car garage; Unit 1 has a finished basement and fenced private yard
