Two-Unit
New
For Sale
$295,000
229 Sewall Street, Augusta, ME 04330
Multi-Family, Augusta, ME
Property Size1,972 SF
Lot Size0.15 Acres
Price / SF$149.59
Days on Market2
Property Features for 229 Sewall Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Parking features
Offsite
Patio and Porch features
Deck
Basement
Walk-Out Access, Unfinished
Lot features
Open, Level, Intown, Near Shopping, Neighborhood
Standard status
Active
Size
1,972 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3324
Utilities
Sewer type
Public Sewer
Heating system
Oil, Heat Pump (Heating), Electric (Heating), Baseboard
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1925
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Listing Agency:
Sprague & Curtis Real Estate
Listed By:
Lori Dube
(207) 623-1123
Added: Oct 31
Last Checked: Nov 1 at 5:06AM
MLS# 1686385
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 1,972-square-foot duplex contains two residences, each with two bedrooms and one bathroom. One unit is leased, while the other is vacant. Built in 1925, the wood-frame building has wood siding, carpet and vinyl flooring, and a deck. Heating is provided by oil, heat pump, electric, and baseboard systems; heat pump cooling is also present.
The property occupies 0.15 acres and is served by public water and sewer. Zoning is RA, and parking is offsite.
The property occupies 0.15 acres and is served by public water and sewer. Zoning is RA, and parking is offsite.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,972 square feet on a 0.15‑acre lot
- One unit leased; the second unit is vacant
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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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
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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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and one bathroom, with one currently leased and the other vacant.
Where is this duplex located?
The property is located at 229 Sewall Street 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 on a 0.15‑acre lot; One unit leased; the second unit is vacant
