2-Unit Stacked
516 Riverside Drive, Augusta, ME 04330
For Sale
$255,000
Each apartment has a separate entrance, heating source, and electric meter.
Property Size1,897 SF
Price / SF$134.42
Days on Market111
Property Features for 516 Riverside Drive
General Information
Standard status
Size
Property subtype
Zoning
Units
Multifamily Units
Individually Metered Utilities
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:
Amerorealty
Added: Jul 23
Changed: Nov 7
Last Checked: Nov 9 at 4:18PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,897-square-foot duplex contains two apartments arranged on separate levels, each with its own entrance. Both units have two bedrooms, a kitchen, washer and dryer hookups, an individual heating source, and a separate electric meter. The exterior features an asphalt roof, vinyl siding, and vinyl windows. An exterior door provides access to the basement, and the property includes parking and a yard.
Built in 1843, the property is zoned PD2. Shopping, schools, and major commuting routes are a short distance away.
Built in 1843, the property is zoned PD2. Shopping, schools, and major commuting routes are a short distance away.
Key Highlights
- Two apartments arranged one above the other, with separate entrances
- Each unit has two bedrooms, a kitchen, and washer and dryer hookups
- Separate heating source and electric meter for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,185
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,700
$423.7K
Cap Rate 7%
$302,643
$302.6K
Cap Rate 9%
$235,389
$235.4K
Market Conditions
NOI Build-Up for 1,897 SF
Gross rent
$30.7K $16.20/SF
− Vacancy
−$467 −$0.25/SF
EGI
$30.3K $15.95/SF
− OpEx
−$9.1K −$4.79/SF
NOI
$21.2K $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%
$423,700
Cap Rate 7%
$302,643
Cap Rate 9%
$235,389
Alternative Uses
Best Use
Multifamily LT 5
$302.6K
$264.8K – $353.1K
NOI $21,185 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$264.0K
$231.0K – $308.0K
NOI $18,480 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$539.2K
$471.8K – $629.0K
NOI $37,741 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
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
$197,600
Median Home Value
Market
Average Price Trend$/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 - Each apartment has a separate entrance, heating source, and electric meter.
Where is this duplex located?
The property is located at 516 Riverside Drive Augusta, ME.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two apartments arranged one above the other, with separate entrances; Each unit has two bedrooms, a kitchen, and washer and dryer hookups; Separate heating source and electric meter for each apartment
