Duplex with Updated
For Sale
$370,000
57 Eustis Street, Lewiston, ME 04240
Separate electric meters and a paved driveway serve this two-apartment property near Bates College.
Property Size2,014 SF
Price / SF$183.71
Days on Market153
Property Features for 57 Eustis Street
General Information
Standard status
Active
Size
2,014 SF
Property subtype
Multi Family Home
Zoning
LDR
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity
Taxes and HOA fees
Annual Taxes
$3,528
Building Details
Building Size
2,014 SF
Year Built
1951
Units
2
Listing Agency:
Integrity Homes Real Estate Group, PC
Listed By:
Buffy Dumont
(207) 576-9755
Source:
Integrityhomesrealestategroup
Added: Jun 2
Changed: Oct 30
Last Checked: Oct 30 at 3:34PM
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 Integrity Homes Real Estate Group, PC
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Investment Insights
Based on property information with market context.
Built in 1951, this 2,014-square-foot duplex contains two updated apartments. The first-floor unit has three bedrooms, one bathroom, garage parking, and basement access. Upstairs, the second unit offers two bedrooms and one bathroom. Both apartments are described as being in good condition, with updated plumbing and electrical systems and new electric water heaters. Separate electric meters serve the units, and the property has a paved driveway. Natural gas has been run to the property.
The building is in Lewiston near Bates College, with access to I-95, shopping, and local amenities. It is zoned LDR.
The building is in Lewiston near Bates College, with access to I-95, shopping, and local amenities. It is zoned LDR.
Key Highlights
- Two‑unit duplex with a 3‑bedroom, 1‑bath first‑floor apartment and a 2‑bedroom, 1‑bath second‑floor apartment
- 2,014‑square‑foot building constructed in 1951
- First‑floor apartment includes garage parking and basement access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,864
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,280
$397.3K
Cap Rate 7%
$283,771
$283.8K
Cap Rate 9%
$220,711
$220.7K
Market Conditions
NOI Build-Up for 2,014 SF
Gross rent
$28.8K $14.28/SF
− Vacancy
−$383 −$0.19/SF
EGI
$28.4K $14.09/SF
− OpEx
−$8.5K −$4.23/SF
NOI
$19.9K $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 Rate 5%
$397,280
Cap Rate 7%
$283,771
Cap Rate 9%
$220,711
Alternative Uses
Best Use
Multifamily LT 5
$283.8K
$248.3K – $331.1K
NOI $19,864 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$269.6K
$235.9K – $314.6K
NOI $18,873 @ 7.0% cap · market cap 5.10%
Theoretical Best
Warehouse
$3.58M
$3.13M – $4.17M
NOI $250,391 @ 7.0% cap · market cap 67.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate electric meters and a paved driveway serve this two-apartment property near Bates College.
Where is this duplex located?
The property is located at 57 Eustis Street Lewiston, ME.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Two‑unit duplex with a 3‑bedroom, 1‑bath first‑floor apartment and a 2‑bedroom, 1‑bath second‑floor apartment; 2,014‑square‑foot building constructed in 1951; First‑floor apartment includes garage parking and basement access
