Building Details

Building Size 2,122 SF

Year Built 1900

Buildings 1

Units 2

Tenancy Multi

Listing Agency: NextHome Experience n***@gmail.com Show Phone

Listed By: Scott Young Melissa Young Show Phone

Source: Amerorealty

Added: Jun 4 Changed: Nov 1 Last Checked: Nov 6 at 2:33AM

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Investment Insights

Based on property information with market context.

This 2,122-square-foot duplex, built in 1900, contains two occupied units with spacious layouts, natural light, and separate utilities. Each apartment has its own washer and dryer. Heating is split between a newer natural gas boiler in one unit and oil heat in the other. A rear deck faces the yard, and the property includes off-street parking on approximately 1.25 acres.

Located in Old Town near the University of Maine, shopping, restaurants, and I-95, the property is zoned R1. The two-unit configuration includes one long-term tenant.

Key Highlights

• Two occupied units, including one with a long‑term tenant
• 2,122 square feet; built in 1900
• Approximately 1.25 acres with an open yard and wooded views

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,447

Cap Rate

7.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$388,940 $388.9K

Cap Rate 7%

$277,814 $277.8K

Cap Rate 9%

$216,078 $216.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,122 SF

Gross rent

$29.3K $13.80/SF

− Vacancy

−$1.5K −$0.71/SF

EGI

$27.8K $13.09/SF

− OpEx

−$8.3K −$3.93/SF

NOI

$19.4K $9.16/SF

Area

Penobscot County, ME

Vacancy

5.13%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$388,940

Cap Rate 7%

$277,814

Cap Rate 9%

$216,078

Alternative Uses

Best Use

Multifamily LT 5

$277.8K

$243.1K – $324.1K (±1% cap)

NOI $19,447 @ 7.0% cap · market cap 7.02%

Second Best

Apartment 5plus

$255.5K

$223.6K – $298.1K (±1% cap)

NOI $17,886 @ 7.0% cap · market cap 6.46%

Theoretical Best

Office A

$685.3K

$599.7K – $799.6K (±1% cap)

NOI $47,974 @ 7.0% cap · market cap 17.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

130

Businesses Nearby

Explore this area Business Placement

Demographics for 04468, ME

8,801

Population

4,664

Households

1.9

Avg Household Size

38

Median Age

33%

College-Educated

96%

High-School Grad

122.8 sq mi

ZIP Area

72

Density / Sq Mi

$51,063

Median Household Income

$36,005

Median Earnings

$980

Median Rent

$182,200

Median Home Value

Market

Average Price Trend$/SF for Duplexes in Penobscot County, ME

$169 Jul

$157 Aug

$149 Sep

$146 Oct

Properties on Market for Duplexes in Penobscot County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two occupied apartments offer separate utilities and individual washer-dryer setups.

Where is this duplex located?

The property is located at 339 Stillwater Avenue Old Town, ME.

What is the asking price?

The asking price for this property is $277,000.

What are key features of this property?

This property features: Two occupied units, including one with a long‑term tenant; 2,122 square feet; built in 1900; Approximately 1.25 acres with an open yard and wooded views