Two-Unit
229 Sewall St, Augusta, ME 04330
For Sale
New
$295,000
One residence is leased, while the second is vacant for occupancy.
Property Size1,972 SF
Price / SF$149.59
Days on Market4
Property Features for 229 Sewall St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Year Built
Tenancy
Listed By:
Crown Lakes Realty
(207) 436-8889
Source:
Crownlakesrealty
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 6 at 8:11AM
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 Crown Lakes Realty
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Investment Insights
Based on property information with market context.
This 1,972-square-foot duplex, built in 1925, contains two units, each with two bedrooms and one bathroom. One unit is leased, and the other is vacant.
The property is located at 229 Sewall St in Augusta, Maine.
The property is located at 229 Sewall St in Augusta, Maine.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,972 square feet
- Built in 1925
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,023
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,460
$440.5K
Cap Rate 7%
$314,614
$314.6K
Cap Rate 9%
$244,700
$244.7K
Market Conditions
NOI Build-Up for 1,972 SF
Gross rent
$31.9K $16.20/SF
− Vacancy
−$486 −$0.25/SF
EGI
$31.5K $15.95/SF
− OpEx
−$9.4K −$4.79/SF
NOI
$22.0K $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%
$440,460
Cap Rate 7%
$314,614
Cap Rate 9%
$244,700
Alternative Uses
Best Use
Multifamily LT 5
$314.6K
$275.3K – $367.1K
NOI $22,023 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$274.4K
$240.1K – $320.2K
NOI $19,210 @ 7.0% cap · market cap 6.51%
Theoretical Best
Warehouse
$2.94M
$2.57M – $3.43M
NOI $205,942 @ 7.0% cap · market cap 69.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Kennebec County, ME
Properties on Market for Duplexes in Kennebec County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is leased, while the second is vacant for occupancy.
Where is this duplex located?
The property is located at 229 Sewall St Augusta, ME.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,972 square feet; Built in 1925
