Income Producing Duplex on Quiet
For Sale
Contact for pricing
4 Pare St, Waterville, ME 04901
Income-producing duplex with recent updates, convenient location, and owner-occupancy potential.
Property Size1,704 SF
Price / SF$134.92
Days on Market144
Property Features for 4 Pare St
General Information
Standard status
Active
Size
1,704 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
Res
Building Details
Year Built
1900
Stories
2
Units
2
Listing Agency:
Real Broker
Listed By:
Corey Lee · License #ME BA924970
(207) 314-8443
Source:
Crexi
Added: May 25
Changed: Oct 5
Last Checked: Oct 14 at 11:48PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,030
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,600
$380.6K
Cap Rate 7%
$271,857
$271.9K
Cap Rate 9%
$211,444
$211.4K
Market Conditions
NOI Build-Up for 1,704 SF
Gross rent
$27.6K $16.20/SF
− Vacancy
−$420 −$0.25/SF
EGI
$27.2K $15.95/SF
− OpEx
−$8.2K −$4.79/SF
NOI
$19.0K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,600
Cap Rate 7%
$271,857
Cap Rate 9%
$211,444
Alternative Uses
Best Use
Multifamily LT 5
$271.9K
$237.9K – $317.2K
NOI $19,030 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$237.1K
$207.5K – $276.7K
NOI $16,600 @ 7.0% cap · market cap 7.22%
Theoretical Best
Warehouse
$2.54M
$2.22M – $2.97M
NOI $177,954 @ 7.0% cap · market cap 77.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
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.
