Duplex with Separate
514 Riverside Drive, Augusta, ME 04330
For Sale
$235,000
Two independent units each have a kitchen, living room, bedrooms, and separate access.
Property Size1,838 SF
Price / SF$127.86
Days on Market120
Property Features for 514 Riverside Drive
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Pouliot Real Estate
(207) 248-6044
Listed By:
Matthew Pouliot
(207) 441-9418
Source:
Integrityhomesrealestategroup
Added: Jul 15
Changed: Nov 11
Last Checked: Nov 10 at 8:34PM
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 Pouliot Real Estate
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Investment Insights
Based on property information with market context.
This duplex contains two units, each with its own entrance, kitchen, living room, and bedrooms. Separate utility service is noted for some utilities. The property was built in 1843 and is zoned PD2.
The site includes parking and a yard. Shopping, schools, and main routes into town are nearby.
The site includes parking and a yard. Shopping, schools, and main routes into town are nearby.
Key Highlights
- Two‑unit duplex with a separate entrance for each residence
- Both units include a kitchen, living room, and bedrooms
- Separate utility service for some utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,526
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,520
$410.5K
Cap Rate 7%
$293,229
$293.2K
Cap Rate 9%
$228,067
$228.1K
Market Conditions
NOI Build-Up for 1,838 SF
Gross rent
$29.8K $16.20/SF
− Vacancy
−$453 −$0.25/SF
EGI
$29.3K $15.95/SF
− OpEx
−$8.8K −$4.79/SF
NOI
$20.5K $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%
$410,520
Cap Rate 7%
$293,229
Cap Rate 9%
$228,067
Alternative Uses
Best Use
Multifamily LT 5
$293.2K
$256.6K – $342.1K
NOI $20,526 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$255.8K
$223.8K – $298.4K
NOI $17,905 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$522.4K
$457.1K – $609.5K
NOI $36,567 @ 7.0% cap · market cap 15.56%
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
31
Businesses Nearby
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Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Kennebec County, ME
Properties on Market for Duplexes in Kennebec County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent units each have a kitchen, living room, bedrooms, and separate access.
Where is this duplex located?
The property is located at 514 Riverside Drive Augusta, ME.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two‑unit duplex with a separate entrance for each residence; Both units include a kitchen, living room, and bedrooms; Separate utility service for some utilities
