Two-Family Conversion Ready
For Sale
$439,000
533 Webster Street, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size2,658 SF
Lot Size0.49 Acres
Price / SF$165.16
Days on Market55
Property Features for 533 Webster Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NCA
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bathroom 1, Bathroom 2
Patio and Porch features
Porch, Deck
Pets allowed
No
Interior features
Other Amenities, 1st Floor Bedroom, Shower, Storage, Primary Bedroom w/Bath
Basement
Full, Unfinished
Lot features
Other Location, Well Landscaped, Open, Level, Intown, Near Shopping, Near Turnpike/ Interstate, Near Town
Standard status
Active
Size
2,658 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4360
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Oil
Water source
Public
Building Details
Year built
1867
Floors in Building
2
Number of units
2
Flooring type
Carpet, Wood, Vinyl, Hardwood
Building materials
Wood Frame, Other Exterior
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage, Other
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Faith Fontaine
(207) 576-4179
Added: Jul 9
Changed: Aug 19
Last Checked: Sep 1 at 12:06AM
MLS# 1664791
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
533 Webster Street in Lewiston offers a spacious 5-bedroom, 3-bath home with 2,658 square feet of living space on a 0.49-acre lot. The property is currently used as a single-family residence, but it is listed with the city as a two-family and can be converted back by reinstalling two interior doors.
The outdoor space includes a fenced-in backyard with a deck and an above-ground pool, along with raised garden beds and a heated chicken coop. A fully insulated barn adds significant flexibility for hobbies, storage, or a workshop, with additional storage available above and below the barn and beneath the garage.
Recent updates include all new windows and PEX plumbing installed in the basement and two bathrooms. Zoned NCA, the property is conveniently located just outside the city with easy access to the turnpike, and within reach of shopping, restaurants, and Bates College.
The outdoor space includes a fenced-in backyard with a deck and an above-ground pool, along with raised garden beds and a heated chicken coop. A fully insulated barn adds significant flexibility for hobbies, storage, or a workshop, with additional storage available above and below the barn and beneath the garage.
Recent updates include all new windows and PEX plumbing installed in the basement and two bathrooms. Zoned NCA, the property is conveniently located just outside the city with easy access to the turnpike, and within reach of shopping, restaurants, and Bates College.
Key Highlights
- Spacious 5‑bedroom, 3‑bath home with 2,658 sq ft of living space on a 0.49‑acre lot
- Currently used as a single‑family residence; listed with the city as a two‑family with potential to convert back by reinstalling two interior doors
- Full insulated barn plus additional storage above and below the barn, as well as 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
5.97%
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 5.97%
Second Best
Apartment 5plus
$355.8K
$311.4K – $415.1K
NOI $24,908 @ 7.0% cap · market cap 5.67%
Theoretical Best
Warehouse
$4.72M
$4.13M – $5.51M
NOI $330,457 @ 7.0% cap · market cap 75.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Spacious 5-bedroom, 3-bath residence listed as two-family, with barn and multiple recent interior updates.
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 $439,000.
What are key features of this property?
This property features: Spacious 5‑bedroom, 3‑bath home with 2,658 sq ft of living space on a 0.49‑acre lot; Currently used as a single‑family residence; listed with the city as a two‑family with potential to convert back by reinstalling two interior doors; Full insulated barn plus additional storage above and below the barn, as well as beneath the garage
