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36 King Street, Waterville, ME, 04901
Tenant-Occupied 2-Family Duplex

36 King Street Waterville, ME 04901

For Sale
$305,000

MULTI_FAMILY - Cape Cod - Waterville, ME

Property Size2,411 SF
Lot Size0.18 Acres
Price / SF$126.50
Days on Market59

Property Features for 36 King Street

General Information

Property type Residential Multi Family
Property subtype Other
Zoning RC
Bathrooms 2
Rooms Bathroom 2, Bathroom 1, Basement
Patio and Porch features Deck, Porch
Interior features 1st Floor Bedroom
Basement Unfinished
Standard status Active
Size 2,411 SF
Lot size 0.18 Acres

Taxes and HOA fees

Tax Year 2025
Tax Annual Amount 3203

Utilities

Sewer type Public Sewer
Heating system Baseboard, Zoned, Hot Water(Heating), Wood, Oil
Water source Public

Building Details

Year built 1920
Number of units 2
Flooring type Wood, Vinyl, Laminate
Building materials Wood Frame, Aluminum Siding
Roof type Metal, Shingle
Architectural style Cape Cod
Listing Agency: Keller Williams Realty
Listed By: Jeffrey Mateja
Added: Jun 1 Changed: Jul 28 Last Checked: Jul 29 at 12:06AM
MLS# 1664844

Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This tenant-occupied 2-family duplex offers a Cape Cod-style layout with two separate unit configurations and shared access options. The first-floor unit includes a front porch entry or a side entry into an entry room and convenient laundry area, plus a separate living room and formal dining room with a built-in hutch, an efficient galley kitchen, and three bedrooms. The second-floor unit features a spacious layout with a large, modern kitchen, an adjacent dining room, and three bedrooms. Shared features include dual entry and exit options, a main front staircase to the porch, and private second-floor access. A full unfinished basement sits below with direct stairs from the first-floor kitchen and an exterior side door from the parking area, providing flexibility for storage or an additional work space. An expansive side yard and a storage shed are included.

The property is offered for sale in Waterville, Maine, with RC zoning and a 0.18-acre lot. The units are professionally managed by Spectrum Property Management, with lawn care, snow removal, and maintenance covered as part of the management approach. The listing notes current annual rental income of over $31,200.

For buyers seeking a two-unit setup where management is already in place, this duplex supports owner occupancy of one unit while maintaining rental operations on the other. It also fits investors looking for a managed, tenant-occupied residence with two similar-bedroom counts and practical basement and exterior storage features.

Key Highlights

  • Tenant‑occupied 2‑family home with first‑floor bedroom and Cape Cod style, built in 1920
  • Public utilities: public water and public sewer
  • Wood frame with aluminum siding; shingle and metal roofing

Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $39.1k $16.20
− Vacancy −$594 −$0.25
EGI $38.5k $15.95
− OpEx −$11.5k −$4.79
NOI $26.9k $11.17
2,411 SF · lease $16.20/SF/yr · vacancy 1.52% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$384.6K
$336.6K – $448.8K (±1% cap)
NOI $26,925 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$335.5K
$293.6K – $391.5K (±1% cap)
NOI $23,487 @ 7.0% cap · market cap 7.70%
Theoretical Best
Warehouse
$3.60M
$3.15M – $4.20M (±1% cap)
NOI $251,788 @ 7.0% cap · market cap 82.55%
Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile Location Intelligence

Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Grocery & Convenience Store Home Appliance Store Veterinary Clinic Pet Grooming Service

Zoning and permitted uses should be independently verified with authorities.

Frequently Asked Questions

What type of property is this?
Duplex - Tenant-occupied duplex with two managed units and a shared basement, built for straightforward owner-occupy or rental use.
Where is this duplex located?
The property is located at 36 King Street Waterville, ME.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Tenant‑occupied 2‑family home with first‑floor bedroom and Cape Cod style, built in 1920; Public utilities: public water and public sewer; Wood frame with aluminum siding; shingle and metal roofing
More about this property
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