Duplex with Above-Ground
For Sale
$395,000
58 Middle Street, Augusta, ME 04330
Separate utilities serve the two residences, which have heat pumps and natural gas heating systems.
Property Size2,413 SF
Price / SF$163.70
Days on Market167
Property Features for 58 Middle Street
General Information
Standard status
Active
Size
2,413 SF
Property subtype
Multi Family Home
Zoning
Res
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,304
Amenities
fenced-in backyard
above-ground pool
private patio space
fresh landscaping
established garden space
Building Details
Building Size
2,413 SF
Year Built
1860
Stories
2
Units
2
Listing Agency:
Summit Real Estate
(207) 436-5555
Listed By:
Joc Caldwell
(207) 232-4152
Source:
Amerorealty
Added: May 19
Changed: Oct 31
Last Checked: Oct 31 at 2:35PM
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 Summit Real Estate
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Investment Insights
Based on property information with market context.
This renovated 2,413-square-foot duplex contains two units: one with 3 bedrooms and 1.5 bathrooms, and another with 2 bedrooms and 1.5 bathrooms. Both have heat pumps and natural gas heating systems, with separate utilities for each. The property was built in 1860 and is zoned Res.
Outdoor features include a fenced backyard, above-ground pool, private patio, landscaped grounds, and established garden space. The first unit has the backyard and pool, while the second has its own patio.
Outdoor features include a fenced backyard, above-ground pool, private patio, landscaped grounds, and established garden space. The first unit has the backyard and pool, while the second has its own patio.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 2‑bedroom layouts
- 2,413 square feet; built in 1860
- Separate utilities, heat pumps, and natural gas heating systems in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,947
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,940
$538.9K
Cap Rate 7%
$384,957
$385.0K
Cap Rate 9%
$299,411
$299.4K
Market Conditions
NOI Build-Up for 2,413 SF
Gross rent
$39.1K $16.20/SF
− Vacancy
−$594 −$0.25/SF
EGI
$38.5K $15.95/SF
− OpEx
−$11.5K −$4.79/SF
NOI
$26.9K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,940
Cap Rate 7%
$384,957
Cap Rate 9%
$299,411
Alternative Uses
Best Use
Multifamily LT 5
$385.0K
$336.8K – $449.1K
NOI $26,947 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$335.8K
$293.8K – $391.8K
NOI $23,506 @ 7.0% cap · market cap 5.95%
Theoretical Best
Warehouse
$3.60M
$3.15M – $4.20M
NOI $251,997 @ 7.0% cap · market cap 63.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,106
Businesses Nearby
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Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities serve the two residences, which have heat pumps and natural gas heating systems.
Where is this duplex located?
The property is located at 58 Middle Street Augusta, ME.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 2‑bedroom layouts; 2,413 square feet; built in 1860; Separate utilities, heat pumps, and natural gas heating systems in both units
