Historic Duplex with Loft
38 Main Street Lisbon Falls, ME 04252
For Sale
$499,000
Historic duplex offers flexible living areas across two floors plus a finished attic and utility/laundry room.
Property Size2,400 SF
Lot Size0.52 Acres
Price / SF$207.92
Days on Market166
Property Features for 38 Main Street
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Lot size
- 0.52 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1880
Listing Agency:
Gallant Real Estate
(207) 841-7569
Listed By:
Kathleen Gallant
(207) 841-7569
Source:
Compass
Added: Feb 8
Changed: Jul 23
Last Checked: Jul 23 at 2:28PM
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 Gallant Real Estate
Investment Insights
Based on property information with market context.
Located in Topsham’s Middle Village neighborhood, this historic building at 38 Main Street features an inherently distinctive layout with many original architectural details. The property is zoned for single-family living, a duplex, and certain commercial uses. The first floor includes a kitchen, living room, dining room, den, and two bedrooms, along with a full bath and a utility/laundry room.
The second floor offers an eat-in kitchen, one bedroom, a full bath, and a loft-style space designed for open-concept living. Additional areas on this level include an art studio and an office. The attic provides a large finished bonus room for flexible additional space, along with ample dry storage.
Set on a generous in-town lot, the property includes room to garden and includes a small stream and wooded backdrop. The location provides easy access to I-295 and the Topsham Fair Mall, with downtown Brunswick amenities described as a short stroll via the Frank Wood Bridge.
The second floor offers an eat-in kitchen, one bedroom, a full bath, and a loft-style space designed for open-concept living. Additional areas on this level include an art studio and an office. The attic provides a large finished bonus room for flexible additional space, along with ample dry storage.
Set on a generous in-town lot, the property includes room to garden and includes a small stream and wooded backdrop. The location provides easy access to I-295 and the Topsham Fair Mall, with downtown Brunswick amenities described as a short stroll via the Frank Wood Bridge.
Key Highlights
- Historic 38 Main Street building in Topsham’s Middle Village neighborhood, formerly the Androscoggin Engine House and Topsham Public Library site
- 38 Main Street duplex layout with 1,200 SF on the first floor: kitchen, living room, dining room, den, and two bedrooms
- First floor includes a full bath and utility/laundry room; interior features include a 1st floor bedroom and bathtub
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 | $34.3k | $14.28 |
| − Vacancy | −$456 | −$0.19 |
| EGI | $33.8k | $14.09 |
| − OpEx | −$10.1k | −$4.23 |
| NOI | $23.7k | $9.86 |
2,400 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$338.2K
$295.9K – $394.5K
NOI $23,671 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$321.3K
$281.1K – $374.8K
NOI $22,490 @ 7.0% cap · market cap 4.51%
Theoretical Best
Warehouse
$4.26M
$3.73M – $4.97M
NOI $298,381 @ 7.0% cap · market cap 59.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rogers Insurance
Insurance Agency
FAQs
What type of property is this?
Duplex - Historic duplex offers flexible living areas across two floors plus a finished attic and utility/laundry room.
Where is this duplex located?
The property is located at 38 Main Street Lisbon Falls, ME.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Historic 38 Main Street building in Topsham’s Middle Village neighborhood, formerly the Androscoggin Engine House and Topsham Public Library site; 38 Main Street duplex layout with 1,200 SF on the first floor: kitchen, living room, dining room, den, and two bedrooms; First floor includes a full bath and utility/laundry room; interior features include a 1st floor bedroom and bathtub
