Two-Unit Residential
51 Western Avenue, Waterville, ME 04901
For Sale
$219,500
Each apartment has its own natural-gas boiler and washer/dryer.
Property Size1,732 SF
Price / SF$126.73
Days on Market126
Property Features for 51 Western Avenue
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
washer/dryer
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Century 21 Nason Realty
(207) 873-2119
Listed By:
Kim Moxcey
(207) 242-2674
Source:
Amerorealty
Added: Jul 7
Changed: Nov 7
Last Checked: Nov 8 at 7:25PM
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 Century 21 Nason Realty
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Investment Insights
Based on property information with market context.
This 1,732-square-foot duplex, built in 1910, contains two apartments: a three-bedroom first-floor unit with a private porch and a two-bedroom apartment upstairs. Each unit has a natural-gas boiler and washer/dryer, and some wood flooring is present. The RB-zoned property is within walking distance of downtown Waterville.
Key Highlights
- Two apartments: one three‑bedroom unit and one two‑bedroom unit
- 1,732 square feet; built in 1910
- Separate natural‑gas boilers; tenants pay their own heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,342
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,840
$386.8K
Cap Rate 7%
$276,314
$276.3K
Cap Rate 9%
$214,911
$214.9K
Market Conditions
NOI Build-Up for 1,732 SF
Gross rent
$28.1K $16.20/SF
− Vacancy
−$426 −$0.25/SF
EGI
$27.6K $15.95/SF
− OpEx
−$8.3K −$4.79/SF
NOI
$19.3K $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%
$386,840
Cap Rate 7%
$276,314
Cap Rate 9%
$214,911
Alternative Uses
Best Use
Multifamily LT 5
$276.3K
$241.8K – $322.4K
NOI $19,342 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$241.0K
$210.9K – $281.2K
NOI $16,872 @ 7.0% cap · market cap 7.69%
Theoretical Best
Warehouse
$2.58M
$2.26M – $3.01M
NOI $180,878 @ 7.0% cap · market cap 82.40%
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
989
Businesses Nearby
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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
$188,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Waterville, ME
Properties on Market for Duplexes in Waterville
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each apartment has its own natural-gas boiler and washer/dryer.
Where is this duplex located?
The property is located at 51 Western Avenue Waterville, ME.
What is the asking price?
The asking price for this property is $219,500.
What are key features of this property?
This property features: Two apartments: one three‑bedroom unit and one two‑bedroom unit; 1,732 square feet; built in 1910; Separate natural‑gas boilers; tenants pay their own heat
