Turnkey Two-Unit Residential
22 Water Street Waterville, ME 04901
For Sale
$268,500
Turnkey two-unit duplex built in 2015 with both units leased and off-street parking.
Property Size2,250 SF
Price / SF$119.33
Days on Market123
Property Features for 22 Water Street
General Information
- Standard status
- Active
- Size
- 2,250 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2015
Listing Agency:
Rockstar Real Estate
(207) 232-2056
Listed By:
Aaron Spiller
(207) 232-2056
Source:
Compass
Added: Mar 24
Changed: Jul 20
Last Checked: Jul 23 at 10:09AM
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 Rockstar Real Estate
Investment Insights
Based on property information with market context.
This turnkey two-unit duplex was built in 2015 and is currently fully tenanted, providing income from day one. The property offers separate living spaces with practical floor plans and generous living areas designed to support long-term occupancy. Units also benefit from abundant natural light.
The building is located at 22 Water Street in Waterville, with convenient in-town access to downtown amenities. The remarks note views of the Lockwood Hotel from the yard.
The exterior is described as low-maintenance, and the property includes a manageable lot size along with off-street parking. Both units are leased, supporting immediate, reliable rental income.
The building is located at 22 Water Street in Waterville, with convenient in-town access to downtown amenities. The remarks note views of the Lockwood Hotel from the yard.
The exterior is described as low-maintenance, and the property includes a manageable lot size along with off-street parking. Both units are leased, supporting immediate, reliable rental income.
Key Highlights
- Two‑unit duplex built in 2015 with both units currently leased
- Separate living spaces with 2 total bathrooms across the duplex
- Off‑street parking available; no dedicated vehicle storage
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.5k | $18.00 |
| − Vacancy | −$648 | −$0.29 |
| EGI | $39.9k | $17.71 |
| − OpEx | −$17.9k | −$7.97 |
| NOI | $21.9k | $9.74 |
2,250 SF · lease $18.00/SF/yr · vacancy 1.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$359.0K
$314.1K – $418.8K
NOI $25,127 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$313.1K
$274.0K – $365.3K
NOI $21,919 @ 7.0% cap · market cap 8.16%
Theoretical Best
Warehouse
$3.36M
$2.94M – $3.92M
NOI $234,975 @ 7.0% cap · market cap 87.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Turnkey two-unit duplex built in 2015 with both units leased and off-street parking.
Where is this duplex located?
The property is located at 22 Water Street Waterville, ME.
What is the asking price?
The asking price for this property is $268,500.
What are key features of this property?
This property features: Two‑unit duplex built in 2015 with both units currently leased; Separate living spaces with 2 total bathrooms across the duplex; Off‑street parking available; no dedicated vehicle storage
