Two-Family Conversion Ready
533 Webster Street Lewiston, ME 04240
533 Webster Street, Lewiston, ME, 04240
$449,000
For Sale
$449,000
MULTI_FAMILY - Other - Lewiston, ME
Property Size2,658 SF
Lot Size0.49 Acres
Price / SF$168.92
Days on Market17
Property Features for 533 Webster Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- NCA
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bathroom 1, Basement
- Patio and Porch features
- Deck, Porch
- Pets allowed
- No
- Interior features
- Other Amenities, 1st Floor Bedroom, Shower, Storage, Primary Bedroom w/Bath
- Basement
- Full, Unfinished
- 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
- Oil, Hot Water(Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1867
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Vinyl, Hardwood, Wood
- Building materials
- Wood Frame, Other Exterior
- Roof type
- Shingle
- Architectural style
- Other
- Additional Structures
- Other, Storage
Listing Agency
Keller Williams Realty
(207) 879-9800
243 Mount Auburn Ave, Portland, ME
Listed by
Faith Fontaine
(207) 576-4179
Added: Jul 1 Checked: Jul 17 at 12:06 pm
MLS# 1664791
Listing URL
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
Local 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
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
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 $449,000.
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
