Duplex with Bonus
New
For Sale
$365,000
343 Webster St, Lewiston, ME 04240
Two two-bedroom units include hardwood flooring and additional mostly finished rooms.
Property Size2,240 SF
Price / SF$162.95
Days on Market7
Property Features for 343 Webster St
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
opportunity for updates
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
hardwood floors
bonus space
Building Details
Year Built
1925
Listed By:
Signature Homes Real Estate Group
(207) 885-0500
Source:
Signaturehomesmaine
Added: Oct 11
Changed: Oct 16
Last Checked: Oct 16 at 8:48AM
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 1925, this 2,240-square-foot duplex contains two units, each with two bedrooms. Hardwood floors extend through much of the property, and both units have additional mostly finished space. The property may be vacant at the time of sale.
A shared driveway provides off-street parking for one vehicle per unit, and a two-car garage offers indoor parking. Parks, shopping, dining, and major routes are nearby in Lewiston.
A shared driveway provides off-street parking for one vehicle per unit, and a two-car garage offers indoor parking. Parks, shopping, dining, and major routes are nearby in Lewiston.
Key Highlights
- 2,240‑square‑foot duplex built in 1925
- Two units, each with 2 bedrooms
- Additional mostly finished space in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,093
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,860
$441.9K
Cap Rate 7%
$315,614
$315.6K
Cap Rate 9%
$245,478
$245.5K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$32.0K $14.28/SF
− Vacancy
−$425 −$0.19/SF
EGI
$31.6K $14.09/SF
− OpEx
−$9.5K −$4.23/SF
NOI
$22.1K $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 Rate 5%
$441,860
Cap Rate 7%
$315,614
Cap Rate 9%
$245,478
Alternative Uses
Best Use
Multifamily LT 5
$315.6K
$276.2K – $368.2K
NOI $22,093 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$299.9K
$262.4K – $349.9K
NOI $20,991 @ 7.0% cap · market cap 5.75%
Theoretical Best
Warehouse
$3.98M
$3.48M – $4.64M
NOI $278,489 @ 7.0% cap · market cap 76.30%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
517
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units include hardwood flooring and additional mostly finished rooms.
Where is this duplex located?
The property is located at 343 Webster St Lewiston, ME.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2,240‑square‑foot duplex built in 1925; Two units, each with 2 bedrooms; Additional mostly finished space in both units
