Renovated Two-Unit
For Sale
$679,000
55 Brown Street, Westbrook, ME 04092
Two two-bedroom residences offer in-unit laundry, with a bonus room in the upper home.
Property Size1,726 SF
Price / SF$393.40
Days on Market10
Property Features for 55 Brown Street
General Information
Standard status
Active
Size
1,726 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
large backyard
Building Details
Year Built
1900
Year Renovated
2022
Buildings
1
Listing Agency:
Beacon Realty
Listed By:
Shea McGonigal
(207) 749-7387
Source:
Profoundrealestate
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 14 at 11:07PM
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 Beacon Realty
Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two residences, each with two bedrooms and in-unit laundry. The first-floor unit has a single-level layout; the other occupies the second and third floors and includes an additional flexible-use room. Both kitchens and bathrooms were replaced, and renovations during 2021–2022 also included new siding, roofing, windows, electrical updates, maple flooring, and interior paint. One kitchen has quartz counters. A new heating system and water heaters were installed in 2024.
The property includes a large backyard and a repaved driveway with ample parking. River views and a public boat launch are across the street.
The property includes a large backyard and a repaved driveway with ample parking. River views and a public boat launch are across the street.
Key Highlights
- Two residences, each with 2 bedrooms and in‑unit laundry
- Renovations completed during 2021–2022 included siding, roof, windows, electrical, flooring, kitchens, and bathrooms
- Heating system and water heaters installed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,501
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,020
$610.0K
Cap Rate 7%
$435,729
$435.7K
Cap Rate 9%
$338,900
$338.9K
Market Conditions
NOI Build-Up for 1,726 SF
Gross rent
$46.6K $27.00/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$43.6K $25.25/SF
− OpEx
−$13.1K −$7.57/SF
NOI
$30.5K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,020
Cap Rate 7%
$435,729
Cap Rate 9%
$338,900
Alternative Uses
Best Use
Multifamily LT 5
$435.7K
$381.3K – $508.4K
NOI $30,501 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$405.4K
$354.7K – $472.9K
NOI $28,376 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$474.4K
$415.1K – $553.5K
NOI $33,207 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom residences offer in-unit laundry, with a bonus room in the upper home.
Where is this duplex located?
The property is located at 55 Brown Street Westbrook, ME.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and in‑unit laundry; Renovations completed during 2021–2022 included siding, roof, windows, electrical, flooring, kitchens, and bathrooms; Heating system and water heaters installed in 2024
