Two-Family Residential Income
For Sale
$429,000
533 Webster Street, Lewiston, ME 04240
City-listed two-family currently used as a single-family, with a fully insulated barn and fenced yard supporting flexible living and income.
Property Size2,658 SF
Lot Size0.49 Acres
Price / SF$161.40
Days on Market104
Property Features for 533 Webster Street
General Information
Standard status
Active
Size
2,658 SF
Lot size
0.49 Acres
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Amenities
deck
above-ground pool
heated chicken coop
raised garden beds
barn
Building Details
Year Built
1867
Listing Agency:
Keller Williams Realty
Listed By:
Faith Fontaine
(603) 866-2942
Source:
Profoundrealestate
Added: May 28
Changed: Sep 8
Last Checked: Sep 8 at 6:13AM
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.
Set on a generous 0.49-acre lot, this spacious 5-bedroom, 3-bath home offers 2,658 square feet of living space. The property is currently used as a single-family residence, but it is listed with the city as a two-family. It can be converted back by reinstalling two interior doors, providing flexibility for multigenerational living or rental use. Updates include all-new windows and PEX plumbing installed in the basement and two bathrooms.
A fully insulated barn adds substantial additional value, with room for entertaining, hobbies, storage, a workshop, or creative space. The home also features a fenced-in backyard with a deck and above-ground pool, along with additional outdoor elements including a heated chicken coop and raised garden beds. Conveniently located just outside the city, the property offers easy access to the turnpike and local amenities, including shopping, restaurants, and Bates College.
A fully insulated barn adds substantial additional value, with room for entertaining, hobbies, storage, a workshop, or creative space. The home also features a fenced-in backyard with a deck and above-ground pool, along with additional outdoor elements including a heated chicken coop and raised garden beds. Conveniently located just outside the city, the property offers easy access to the turnpike and local amenities, including shopping, restaurants, and Bates College.
Key Highlights
- 5‑bedroom, 3‑bath home with 2,658 SF of living space on a 0.49‑acre lot (year built 1867).
- City‑listed as a two‑family but currently used as a single‑family; can be converted back by reinstalling two interior doors.
- Fully insulated barn with additional storage above and below the barn, plus storage beneath the garage.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,216
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$524,320
$524.3K
Cap Rate 7%
$374,514
$374.5K
Cap Rate 9%
$291,289
$291.3K
Market Conditions
NOI Build-Up for 2,658 SF
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.
Gross rent
$38.0K $14.28/SF
− Vacancy
−$505 −$0.19/SF
EGI
$37.5K $14.09/SF
− OpEx
−$11.2K −$4.23/SF
NOI
$26.2K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$524,320
Cap Rate 7%
$374,514
Cap Rate 9%
$291,289
Alternative Uses
Best Use
Multifamily LT 5
$374.5K
$327.7K – $436.9K
NOI $26,216 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$355.8K
$311.4K – $415.1K
NOI $24,908 @ 7.0% cap · market cap 5.81%
Theoretical Best
Warehouse
$4.72M
$4.13M – $5.51M
NOI $330,457 @ 7.0% cap · market cap 77.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 04240, ME
37,121
Population
16,852
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
34.1 sq mi
ZIP Area
1,089
Density / Sq Mi
$56,558
Median Household Income
$36,734
Median Earnings
$954
Median Rent
$214,200
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 - City-listed two-family currently used as a single-family, with a fully insulated barn and fenced yard supporting flexible living and income.
Where is this duplex located?
The property is located at 533 Webster Street Lewiston, ME.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 5‑bedroom, 3‑bath home with 2,658 SF of living space on a 0.49‑acre lot (year built 1867).; City‑listed as a two‑family but currently used as a single‑family; can be converted back by reinstalling two interior doors.; Fully insulated barn with additional storage above and below the barn, plus storage beneath the garage.
