Two-Family Residential Income
533 Webster Street Lewiston, ME 04240
For Sale
$449,000
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$168.92
Days on Market75
Property Features for 533 Webster Street
General Information
- Standard status
- Active
- Size
- 2,658 SF
- Lot size
- 0.49 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1867
Listing Agency:
Keller Williams Realty
Listed By:
Faith Fontaine
(603) 866-2942
Source:
Profoundrealestate
Added: May 11
Changed: Jul 23
Last Checked: Jul 23 at 4:02AM
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 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 | $38.0k | $14.28 |
| − Vacancy | −$505 | −$0.19 |
| EGI | $37.5k | $14.09 |
| − OpEx | −$11.2k | −$4.23 |
| NOI | $26.2k | $9.86 |
2,658 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$374.5K
$327.7K – $436.9K
NOI $26,216 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$355.8K
$311.4K – $415.1K
NOI $24,908 @ 7.0% cap · market cap 5.55%
Theoretical Best
Warehouse
$4.72M
$4.13M – $5.51M
NOI $330,457 @ 7.0% cap · market cap 73.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
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 $449,000.
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.
