Updated Two-Unit
For Sale
$550,000
5 Stevens Avenue, Westbrook, ME 04092
Separate utilities and flexible layouts support owner-occupancy or rental use.
Property Size2,414 SF
Price / SF$227.84
Days on Market8
Property Features for 5 Stevens Avenue
General Information
Standard status
Active
Size
2,414 SF
Total Parking Spaces
3
Property subtype
MULTI_FAMILY
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,069
Building Details
Building Size
2,414 SF
Year Built
1930
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(207) 553-1387
Listed By:
Scott Townsend
(207) 553-1387
Source:
Heathershieldsmaine
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 6 at 3:54AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 2,414-square-foot duplex, built in 1930, contains two distinct residential units with separate heat and electric service. Unit 1 has three bedrooms, two bathrooms arranged across both floors, and first-floor laundry. Unit 2 includes two bedrooms, an upstairs full bathroom, a downstairs half bathroom, and recent interior updates including paint, carpeting, a refrigerator, and a dishwasher.
Property improvements include a roof installed in 2019, exterior painting completed in 2026, heat pumps, a replacement sump pump, and a one-car garage remodeled in 2021. A covered front porch added in 2013, shared basement storage, and three private parking spaces add functional value. The property is at 5 Stevens Avenue in Westbrook, with access to I-95, local schools, restaurants, Riverbank Park, Westbrook Dog Park, and Rock Row.
Property improvements include a roof installed in 2019, exterior painting completed in 2026, heat pumps, a replacement sump pump, and a one-car garage remodeled in 2021. A covered front porch added in 2013, shared basement storage, and three private parking spaces add functional value. The property is at 5 Stevens Avenue in Westbrook, with access to I-95, local schools, restaurants, Riverbank Park, Westbrook Dog Park, and Rock Row.
Key Highlights
- Two‑unit duplex totaling 2,414 SF; built in 1930
- Unit 1 offers 3 bedrooms, 2 bathrooms, and first‑floor laundry
- Unit 2 includes 2 bedrooms, 1 full bath, and 1 half bath
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 | $65.2k | $27.00 |
| − Vacancy | −$4.2k | −$1.76 |
| EGI | $60.9k | $25.25 |
| − OpEx | −$18.3k | −$7.57 |
| NOI | $42.7k | $17.67 |
2,414 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$609.4K
$533.2K – $711.0K
NOI $42,659 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$567.0K
$496.1K – $661.5K
NOI $39,688 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$663.5K
$580.6K – $774.1K
NOI $46,444 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and flexible layouts support owner-occupancy or rental use.
Where is this duplex located?
The property is located at 5 Stevens Avenue Westbrook, ME.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,414 SF; built in 1930; Unit 1 offers 3 bedrooms, 2 bathrooms, and first‑floor laundry; Unit 2 includes 2 bedrooms, 1 full bath, and 1 half bath
