Brick
New
For Sale
$630,000
25 Dove Lane, Lewiston, ME 04240
Lewiston, ME
Property Size3,899 SF
Lot Size0.38 Acres
Price / SF$161.58
Days on Market4
Property Features for 25 Dove Lane
General Information
Property type
Residential Multi Family
Property subtype
Single Family Attached
Bathrooms
2
Full bathrooms
2
Standard status
Active
Size
3,899 SF
Lot size
0.38 Acres
Building Details
Year built
1952
Listing Agency:
Auburn, Maine · Better Homes and Gardens Real Estate
(207) 782-8311
Listed By:
Gina Letourneau
(207) 754-4959
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 27 at 2:06PM
MLS# 1681856
Copyright © 2026 Better Homes and Gardens-The Masiello Group. 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.
This 1952 brick duplex contains 3,899 square feet across two three-bedroom residences. The larger unit has undergone a full renovation, with a granite-counter kitchen, stainless steel appliances, wood flooring, and a fireplace. Its primary bedroom and laundry are on the first floor; two more bedrooms and a den occupy the upper level. The second residence has an open layout, an oak kitchen, wood floors, and first-floor washer and dryer hookups.
The property sits on a 0.38-acre corner lot in Lewiston. Improvements include a metal roof, vinyl replacement windows, and a boiler installed in 2021. A two-car garage, storage shed, and paved driveway are also on site.
The property sits on a 0.38-acre corner lot in Lewiston. Improvements include a metal roof, vinyl replacement windows, and a boiler installed in 2021. A two-car garage, storage shed, and paved driveway are also on site.
Key Highlights
- Two residences, each with 3 bedrooms
- 3,899 square feet of total living area
- 0.38‑acre corner parcel in Lewiston
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
$38,456
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
6.10%
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%
$769,120
$769.1K
Cap Rate 7%
$549,371
$549.4K
Cap Rate 9%
$427,289
$427.3K
Market Conditions
NOI Build-Up for 3,899 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
$55.7K $14.28/SF
− Vacancy
−$741 −$0.19/SF
EGI
$54.9K $14.09/SF
− OpEx
−$16.5K −$4.23/SF
NOI
$38.5K $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 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%
$769,120
Cap Rate 7%
$549,371
Cap Rate 9%
$427,289
Alternative Uses
Best Use
Multifamily LT 5
$549.4K
$480.7K – $640.9K
NOI $38,456 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$522.0K
$456.7K – $609.0K
NOI $36,537 @ 7.0% cap · market cap 5.80%
Theoretical Best
Warehouse
$6.92M
$6.06M – $8.08M
NOI $484,744 @ 7.0% cap · market cap 76.94%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,495
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
Check the figures for this property
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 three-bedroom residences offer distinct layouts within a single property.
Where is this duplex located?
The property is located at 25 Dove Lane Lewiston, ME.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms; 3,899 square feet of total living area; 0.38‑acre corner parcel in Lewiston
