Two-Unit Duplex with Separate
For Sale
$195,000
32 King St, Waterville, ME 04901
Two residential units provide flexible occupancy for investors, owner-occupants, or multigenerational households.
Property Size1,590 SF
Price / SF$122.64
Days on Market50
Property Features for 32 King St
General Information
Standard status
Active
Size
1,590 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
three-season porch
Building Details
Year Built
1900
Buildings
1
Construction
New Englander
Listed By:
Signature Homes Real Estate Group
(207) 885-0500
Source:
Signaturehomesmaine
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 26 at 3:18PM
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 Signature Homes Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1900, this 1,590-square-foot duplex contains two separate residential units with a combined total of five bedrooms and two bathrooms. The property retains New Englander character while providing practical living space for separate households. The main unit includes an eat-in kitchen, living areas, and access to a three-season porch. The upper unit has its own kitchen, supporting independent occupancy within the building.
Located at 32 King St in Waterville, Maine, the property can accommodate an owner-occupant seeking a second household or an investor adding a two-unit asset to a rental portfolio. Its configuration also supports multigenerational living arrangements, subject to applicable requirements.
Located at 32 King St in Waterville, Maine, the property can accommodate an owner-occupant seeking a second household or an investor adding a two-unit asset to a rental portfolio. Its configuration also supports multigenerational living arrangements, subject to applicable requirements.
Key Highlights
- Two‑unit duplex configuration
- 1,590 square feet with five bedrooms and two bathrooms
- Separate kitchen in each residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,757
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,140
$355.1K
Cap Rate 7%
$253,671
$253.7K
Cap Rate 9%
$197,300
$197.3K
Market Conditions
NOI Build-Up for 1,590 SF
Gross rent
$25.8K $16.20/SF
− Vacancy
−$392 −$0.25/SF
EGI
$25.4K $15.95/SF
− OpEx
−$7.6K −$4.79/SF
NOI
$17.8K $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%
$355,140
Cap Rate 7%
$253,671
Cap Rate 9%
$197,300
Alternative Uses
Best Use
Multifamily LT 5
$253.7K
$222.0K – $296.0K
NOI $17,757 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$221.3K
$193.6K – $258.2K
NOI $15,489 @ 7.0% cap · market cap 7.94%
Theoretical Best
Warehouse
$2.37M
$2.08M – $2.77M
NOI $166,049 @ 7.0% cap · market cap 85.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide flexible occupancy for investors, owner-occupants, or multigenerational households.
Where is this duplex located?
The property is located at 32 King St Waterville, ME.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,590 square feet with five bedrooms and two bathrooms; Separate kitchen in each residential unit
