2-Unit Duplex with Private
New
For Sale
$569,500
24 Columbia Avenue, Brunswick, ME 04011
Multi-Family, Brunswick, ME
Property Size2,106 SF
Lot Size0.22 Acres
Price / SF$270.42
Days on Market2
Property Features for 24 Columbia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GR9
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Patio and Porch features
Deck, Porch
Interior features
1st Floor Bedroom
Lot features
Open, Level, Sidewalks, Intown, Near Town, Neighborhood
Standard status
Active
Size
2,106 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
26
Tax Annual Amount
6467
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Oil
Water source
Public
Amenities
private porch
shared storage area
Building Details
Year built
1921
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Wood Frame, Shingle Siding
Roof type
Shingle
Architectural style
Federal
Additional Structures
Outbuilding
Listing Agency:
Portside Real Estate Group
(207) 607-5965
Listed By:
Sarah Singer Ellen Domingos
(207) 485-9955
Added: Sep 25
Last Checked: Sep 26 at 4:06PM
MLS# 1681361
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.
Investment Insights
Based on property information with market context.
Built in 1921 in the Federal style, this duplex contains two residences, each configured with two bedrooms and one bathroom. The property totals 2,106 square feet on a 0.22-acre lot. Hardwood and tile flooring, a shingle roof, and individual porches are among its features; the roof was replaced in 2025. A shared storage area serves both units, and the property has GR9 zoning.
The property is near Bowdoin College and downtown Brunswick, with restaurants, cafes, shops, and parks in the surrounding area. Public water and sewer serve the property.
The property is near Bowdoin College and downtown Brunswick, with restaurants, cafes, shops, and parks in the surrounding area. Public water and sewer serve the property.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 2,106 square feet on a 0.22‑acre lot
- Roof replaced in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,216
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$744,320
$744.3K
Cap Rate 7%
$531,657
$531.7K
Cap Rate 9%
$413,511
$413.5K
Market Conditions
NOI Build-Up for 2,106 SF
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.
Gross rent
$56.9K $27.00/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$53.2K $25.25/SF
− OpEx
−$15.9K −$7.57/SF
NOI
$37.2K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$744,320
Cap Rate 7%
$531,657
Cap Rate 9%
$413,511
Alternative Uses
Best Use
Multifamily LT 5
$531.7K
$465.2K – $620.3K
NOI $37,216 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$494.6K
$432.8K – $577.1K
NOI $34,624 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$578.8K
$506.5K – $675.3K
NOI $40,518 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Explore this area
Business Placement
Demographics for 04011, ME
21,756
Population
9,440
Households
2.3
Avg Household Size
44
Median Age
52%
College-Educated
96%
High-School Grad
46.8 sq mi
ZIP Area
465
Density / Sq Mi
$74,102
Median Household Income
$40,075
Median Earnings
$1,341
Median Rent
$343,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences each include a porch, with shared storage space available to both units.
Where is this duplex located?
The property is located at 24 Columbia Avenue Brunswick, ME.
What is the asking price?
The asking price for this property is $569,500.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 2,106 square feet on a 0.22‑acre lot; Roof replaced in 2025
