Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Income Producing Duplex on Quiet Road Title is generated by Realmo AI

    4 Pare St, Waterville, ME 04901

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Income-producing duplex with recent updates, convenient location, and owner-occupancy potential.

    Type:Multifamily
    Property size:
    1,704 SF
    Price / SF:
    $134/SF
    Added:
    May 25, 2026
    Days on Market:
    8
    Last Refresh:
    May 27 at 8:25 am

    Property Features for 4 Pare St

    General Information

    Standard status
    Active
    Size
    1,704 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Corey Lee

    Listing agent Corey Lee License #ME BA924970

    Listing office Real Broker

    Listing date May 25, 2026

    Source Crexi

    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 Real Broker

    HighLights

    • Vacant Upon Sale: Ideal for owner‑occupant to choose their own tenant and offset mortgage.
    • Income‑Producing 2‑Unit Property: Opportunity for rental income.
    • Each Unit Features 3 Bedrooms: Spacious and practical living arrangements.
    • Separate Propane Rinnai Heating: Efficient and independent utilities for each unit.
    • Recent Updates: New roof, rebuilt back porch, paved driveway, new garage with electricity and heat, and new storage shed.
    • Convenient Location: Quiet dead‑end road, minutes to downtown Waterville, highway, hospital, and local colleges.

    Overview

    This income-producing two-unit property is located on a quiet, dead-end road. The property will be vacant upon sale, making it suitable for an owner-occupant looking to live in one unit and select a tenant for the other to offset mortgage costs. Both units feature identical layouts with three bedrooms each, offering spacious living arrangements. Each unit has its own propane Rinnai heating source for efficient and separate utilities. Recent updates include a new monitor heater, new roof, rebuilt back porch, paved driveway, new garage with electricity and heat, and a new storage shed. The property also features a fenced backyard. The garage and shed provide added storage. Located in a quiet walking neighborhood, the property is minutes from downtown Waterville, the highway, hospital, and local colleges. The property size is 1704 square feet.

    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 $27.6k $16.20
    − Vacancy −$420 −$0.25
    EGI $27.2k $15.95
    − OpEx −$8.2k −$4.79
    NOI $19.0k $11.17
    1,704 SF · lease $16.20/SF/yr · vacancy 1.52% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $271.9K
    $237.9K – $317.2K (±1% cap)
    NOI $19,030 @ 7.0% cap · market cap 8.28%
    Second Best
    Apartment 5plus
    $237.1K
    $207.5K – $276.7K (±1% cap)
    NOI $16,600 @ 7.0% cap · market cap 7.22%
    Theoretical Best
    Warehouse
    $2.54M
    $2.22M – $2.97M (±1% cap)
    NOI $177,954 @ 7.0% cap · market cap 77.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterville
    County
    Kennebec
    State
    Maine
    Longitude
    -69.6425938
    Latitude
    44.5392295

    Nearby Similar for Sale

    • $359,900
      2,908 SF

      Versatile Commercial Property in Waterville

      1.92-acre commercial property with office suites and outdoor canopy.
      120 Drummond Avenue, Waterville, ME 04901
      View Details
    • $175,000
      13,793 SF

      Downtown Waterville Mixed-Use Opportunity

      Value-add investment with multiple income streams and significant upside.
      45 Water Street, Waterville, ME 04901
      View Details
    • $499,000
      10,287 SF

      Waterville Commercial Office Opportunity

      Spacious office building in Waterville with ample parking.
      44-46 Elm Street, Waterville, ME 04901
      View Details
    • $650,000
      13,413 SF

      Downtown Waterville Commercial Building

      Four-story mixed-use building in downtown Waterville.
      99 Main Street, Waterville, ME 04901
      View Details
    • $229,900
      6,211 SF

      Multi-Tenant Office Building in Waterville

      Fully occupied office building near downtown Waterville with ample parking.
      2 Park Street, Waterville, ME 04901
      View Details
    • $1,800,000
      11,250 SF

      Well-Maintained Office Building For Sale

      Visible office building on Kennedy Memorial Drive in Waterville, Maine.
      244 Kennedy Memorial Drive, Waterville, ME 04901
      View Details
    • $374,900
      4,664 SF

      Versatile Commercial Property with Apartments

      High-visibility commercial property with rental income potential in Waterville, ME.
      166 Silver Street, Waterville, ME 04901
      View Details
    • $233,900
      2,037 SF

      Winslow, Maine Multi-Unit Property

      Turn-key, renovated 2-unit apartment building with strong rental potential.
      41 Bay Street, Waterville, ME 04901
      View Details
    • $219,900
      2,556 SF

      Waterville Colonial Multifamily Investment Property

      Well-maintained three-unit building in a convenient residential area.
      32-34 Gold Street, Waterville, ME 04901
      View Details
    • $329,000
      1,992 SF

      Well-Maintained Duplex in Waterville, ME

      Two-unit property with updates, ideal for owner-occupancy or investment.
      7 Roosevelt Avenue, Waterville, ME 04901
      View Details
    • $262,000
      1,838 SF

      Waterville Two-Unit Investment Opportunity

      Charming two-unit property in Waterville, Maine with income potential.
      63 Summer Street, Waterville, ME 04901
      View Details
    • $275,000
      3,566 SF

      Repurposed Multi-Unit in Waterville, ME

      Partially new multi-unit with income potential in Waterville, Maine.
      40 Ticonic Street, Waterville, ME 04901
      View Details

    FAQs

    What type of property is this?
    Duplex - Income-producing duplex with recent updates, convenient location, and owner-occupancy potential.
    Where is this duplex located?
    The property is located at 4 Pare St Waterville, ME.
    What is the asking price?
    The asking price for this property is $229,900.
    What are key features of this property?
    This property features: Vacant Upon Sale: Ideal for owner‑occupant to choose their own tenant and offset mortgage.; Income‑Producing 2‑Unit Property: Opportunity for rental income.; Each Unit Features 3 Bedrooms: Spacious and practical living arrangements.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Corey Lee
    Real Estate License ID: ME BA924970
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4 Pare St, Waterville, ME 04901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!