Two-Unit Duplex with
For Sale
$357,000
38 Jefferson Street, Lewiston, ME 04240
Natural gas service complements the covered patio, rear deck, and separate off-street parking areas.
Property Size2,181 SF
Price / SF$163.69
Days on Market196
Property Features for 38 Jefferson Street
General Information
Standard status
Active
Size
2,181 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,852
Amenities
rear deck
covered patio
storage shed
garage
bonus storage area
Building Details
Building Size
2,181 SF
Year Built
1891
Listing Agency:
EXP Realty
Listed By:
Stephen Kenney
(207) 754-8340
Source:
Hoangrealty
Added: Apr 16
Changed: Oct 27
Last Checked: Oct 26 at 3:08PM
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 EXP Realty
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Investment Insights
Based on property information with market context.
This 2,181-square-foot duplex contains two units and was built in 1891. Recent interior work includes new paint and flooring. The property also has natural gas service, a newly installed rear deck, a covered patio, a storage shed, and a garage. A third-floor area provides additional storage.
The property occupies a double lot and includes two separate parking areas, along with off-street spaces. The second lot’s development status is not established, so no additional building potential is assumed.
The property occupies a double lot and includes two separate parking areas, along with off-street spaces. The second lot’s development status is not established, so no additional building potential is assumed.
Key Highlights
- Two‑unit duplex with 2,181 square feet
- Built in 1891
- Interior updates include new paint and flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,511
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,220
$430.2K
Cap Rate 7%
$307,300
$307.3K
Cap Rate 9%
$239,011
$239.0K
Market Conditions
NOI Build-Up for 2,181 SF
Gross rent
$31.1K $14.28/SF
− Vacancy
−$414 −$0.19/SF
EGI
$30.7K $14.09/SF
− OpEx
−$9.2K −$4.23/SF
NOI
$21.5K $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%
$430,220
Cap Rate 7%
$307,300
Cap Rate 9%
$239,011
Alternative Uses
Best Use
Multifamily LT 5
$307.3K
$268.9K – $358.5K
NOI $21,511 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$292.0K
$255.5K – $340.6K
NOI $20,438 @ 7.0% cap · market cap 5.72%
Theoretical Best
Warehouse
$3.87M
$3.39M – $4.52M
NOI $271,153 @ 7.0% cap · market cap 75.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,227
Businesses Nearby
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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 - Natural gas service complements the covered patio, rear deck, and separate off-street parking areas.
Where is this duplex located?
The property is located at 38 Jefferson Street Lewiston, ME.
What is the asking price?
The asking price for this property is $357,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,181 square feet; Built in 1891; Interior updates include new paint and flooring
