Ranch-Style Duplex with Separate
For Sale
$249,900
Pending
30 Hazelwood Avenue, Waterville, ME 04901
Two-bedroom units, independent driveways, and a private level backyard support flexible occupancy options.
Property Size1,749 SF
Days on Market221
Property Features for 30 Hazelwood Avenue
General Information
Standard status
Pending
Size
1,749 SF
Property subtype
Multi-Family
Zoning
RB
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,118
Amenities
Other Heat System, Direct Vent Heater
Not Applicable
Vinyl, Laminate, Carpet
1
No
Yes
Laundry - 1st Floor, Main Level
1st Floor Bedroom
Concrete Perimeter, Slab
2.00
2
Metal, Pitched
Vinyl Siding, Wood Frame
Building Details
Year Built
1987
Buildings
1
Units
2
Construction
ranch
Listing Agency:
EXP Realty
(207) 649-6893
Listed By:
Jeffrey Jolicoeur
(207) 649-6893
Source:
Compass
Added: Jan 22
Changed: Aug 30
Last Checked: Aug 31 at 12:58AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This ranch-style duplex was built in 1987 and is arranged as two separate residences. Each unit includes four rooms and two bedrooms, with first-floor bedrooms and laundry areas. Separate utilities support independent management of heating and electrical service. The property also features a pitched metal roof, vinyl siding, wood-frame construction, and a concrete perimeter with slab foundation. One residence is vacant, while the other provides an existing occupied unit.
The duplex is located at 30 Hazelwood Avenue in Waterville, close to shopping and other local amenities. Each residence has its own driveway, and the large, level backyard adds usable outdoor space while maintaining privacy. The property is zoned RB and includes direct-vent heating, along with vinyl, laminate, and carpet flooring.
The duplex is located at 30 Hazelwood Avenue in Waterville, close to shopping and other local amenities. Each residence has its own driveway, and the large, level backyard adds usable outdoor space while maintaining privacy. The property is zoned RB and includes direct-vent heating, along with vinyl, laminate, and carpet flooring.
Key Highlights
- Two‑unit ranch‑style duplex built in 1987
- Each unit has 4 rooms and 2 bedrooms
- Separate utilities for heating and electrical service
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
$19,532
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
7.82%
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%
$390,640
$390.6K
Cap Rate 7%
$279,029
$279.0K
Cap Rate 9%
$217,022
$217.0K
Market Conditions
NOI Build-Up for 1,749 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
$28.3K $16.20/SF
− Vacancy
−$431 −$0.25/SF
EGI
$27.9K $15.95/SF
− OpEx
−$8.4K −$4.79/SF
NOI
$19.5K $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 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%
$390,640
Cap Rate 7%
$279,029
Cap Rate 9%
$217,022
Alternative Uses
Best Use
Multifamily LT 5
$279.0K
$244.2K – $325.5K
NOI $19,532 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,038 @ 7.0% cap · market cap 6.82%
Theoretical Best
Warehouse
$2.61M
$2.28M – $3.04M
NOI $182,654 @ 7.0% cap · market cap 73.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units, independent driveways, and a private level backyard support flexible occupancy options.
Where is this duplex located?
The property is located at 30 Hazelwood Avenue Waterville, ME.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit ranch‑style duplex built in 1987; Each unit has 4 rooms and 2 bedrooms; Separate utilities for heating and electrical service
