Duplex with Barn and
For Sale
$549,900
34 Brown St, Kennebunk, ME 04043
In-town two-unit property with a gardening area, storage barn, and access to downtown amenities on foot.
Property Size2,342 SF
Price / SF$234.80
Days on Market33
Property Features for 34 Brown St
General Information
Standard status
Active
Size
2,342 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
ready for your vision and updates
Additional Details
Multifamily Units
2
Building Details
Year Built
1880
Listing Agency:
Keller Williams Realty
(207) 248-6044
Listed By:
Jason Dube
Source:
603luxury
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 25 at 3:50AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1880, this 2,342-square-foot duplex includes two existing units and is being offered as-is with updates anticipated. The property also includes a spacious backyard, a large gardening area, a gazebo, and a barn providing additional storage. It was previously configured as a 3-unit property; buyers are encouraged to consult the Town of Kennebunk Code Enforcement Department about the possibility of restoring the third unit.
Located at 34 Brown St in Kennebunk, the property is within walking distance of downtown restaurants, shops, parks, the farmers market, ice skating, and bowling. Southern Maine beaches, golf courses, boating, and other area attractions are a short drive away. The property has been owned by the same family for 57 years and may suit an investor or owner-occupant seeking an in-town residential income property.
Located at 34 Brown St in Kennebunk, the property is within walking distance of downtown restaurants, shops, parks, the farmers market, ice skating, and bowling. Southern Maine beaches, golf courses, boating, and other area attractions are a short drive away. The property has been owned by the same family for 57 years and may suit an investor or owner-occupant seeking an in-town residential income property.
Key Highlights
- 2,342 SF duplex built in 1880
- Two existing units with prior 3‑unit configuration
- Potential third‑unit restoration subject to Town of Kennebunk Code Enforcement consultation
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
$39,646
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
7.21%
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%
$792,920
$792.9K
Cap Rate 7%
$566,371
$566.4K
Cap Rate 9%
$440,511
$440.5K
Market Conditions
NOI Build-Up for 2,342 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
$59.6K $25.44/SF
− Vacancy
−$2.9K −$1.26/SF
EGI
$56.6K $24.18/SF
− OpEx
−$17.0K −$7.25/SF
NOI
$39.6K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$792,920
Cap Rate 7%
$566,371
Cap Rate 9%
$440,511
Alternative Uses
Best Use
Multifamily LT 5
$566.4K
$495.6K – $660.8K
NOI $39,646 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$517.1K
$452.4K – $603.2K
NOI $36,194 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$742.4K
$649.6K – $866.1K
NOI $51,968 @ 7.0% cap · market cap 9.45%
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
508
Businesses Nearby
Explore this area
Business Placement
Demographics for 04043, ME
11,536
Population
6,243
Households
1.8
Avg Household Size
52
Median Age
50%
College-Educated
97%
High-School Grad
35.1 sq mi
ZIP Area
329
Density / Sq Mi
$101,204
Median Household Income
$53,283
Median Earnings
$1,405
Median Rent
$460,600
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 - In-town two-unit property with a gardening area, storage barn, and access to downtown amenities on foot.
Where is this duplex located?
The property is located at 34 Brown St Kennebunk, ME.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,342 SF duplex built in 1880; Two existing units with prior 3‑unit configuration; Potential third‑unit restoration subject to Town of Kennebunk Code Enforcement consultation
