Tenant-Occupied 2-Family
36 King Street, Waterville, ME 04901
MULTI_FAMILY - Cape Cod - Waterville, ME
Property size:
2,411 SFLot size:
0.18 AcresPrice / SF:
$126/SF- Added:
- Jun 1, 2026
- Days on Market:
- 13
- Last Refresh:
- Jun 13 at 10:06 pm
Property Features for 36 King Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RC
- Bathrooms
- 2
- Rooms
- Bathroom 2, Basement, Bathroom 1
- Patio and Porch features
- Porch, Deck
- 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
- Wood, Oil, Zoned, Hot Water(Heating), Baseboard
- 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 agent Jeffrey Mateja (207) 553-2605
Listing office Keller Williams Realty 383 US Route 1 Suite 2, Portland, ME (207) 553-2605
Listing date Jun 1, 2026
MLS# 1664844
Listing URL
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.
HighLights
- Tenant‑occupied 2‑family home with both units generating 31,200+ in current annual rental income
- Cape Cod built in 1920 with wood frame construction, aluminum siding, and shingle/metal roof
- First‑floor unit includes 1st floor bedroom, separate living room and formal dining room, and galley kitchen
- Second‑floor unit features a large modern kitchen, dining area, and three bedrooms
- Full unfinished basement with interior access from first‑floor kitchen and an exterior side door from the parking area
- Level expansive side yard with deck, porch, and storage shed; public water and public sewer
Overview
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.
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.
Local 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
NOI $26,925 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$335.5K
$293.6K – $391.5K
NOI $23,487 @ 7.0% cap · market cap 7.70%
Theoretical Best
Warehouse
$3.60M
$3.15M – $4.20M
NOI $251,788 @ 7.0% cap · market cap 82.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Waterville
- County
- Kennebec
- State
- Maine
- Longitude
- -69.638608
- Latitude
- 44.5407
Nearby Similar for Sale
FAQs
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 both units generating 31,200+ in current annual rental income; Cape Cod built in 1920 with wood frame construction, aluminum siding, and shingle/metal roof; First‑floor unit includes 1st floor bedroom, separate living room and formal dining room, and galley kitchen
