Two-Unit Duplex with Back
58 Old Greene Road, Lewiston, ME 04240
For Sale
$339,000
Both apartments offer two bedrooms, one full bath, a living room, and a kitchen.
Property Size3,200 SF
Price / SF$105.94
Days on Market57
Property Features for 58 Old Greene Road
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Amenities
1st Floor Bedroom
Bathtub
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Signature Homes Real Estate Group
Listed By:
Tiffany Libby Pamela Starnes
(207) 838-8051
Source:
Hayesrealestate
Added: Sep 15
Changed: Nov 10
Last Checked: Nov 10 at 2:13PM
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 Signature Homes Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1942, this duplex contains two apartments, each with two bedrooms, one full bathroom, a living room, and a kitchen. A full basement is partially finished and offers storage space. Back decks serve the outdoor areas, and recent work includes a new roof, gutters, and piping between the house and the road for the public sewer system.
The sale also includes a separate lot at 19 Thorne Ave., adding land alongside the residence. The property is zoned NCA.
The sale also includes a separate lot at 19 Thorne Ave., adding land alongside the residence. The property is zoned NCA.
Key Highlights
- Two apartments, each with two bedrooms and one full bath
- Full basement, partially finished
- New roof and gutters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,987
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,740
$599.7K
Cap Rate 7%
$428,386
$428.4K
Cap Rate 9%
$333,189
$333.2K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$55.3K $17.28/SF
− Vacancy
−$774 −$0.24/SF
EGI
$54.5K $17.04/SF
− OpEx
−$24.5K −$7.67/SF
NOI
$30.0K $9.37/SF
Area
Androscoggin County, ME
Vacancy
1.40%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,740
Cap Rate 7%
$428,386
Cap Rate 9%
$333,189
Alternative Uses
Best Use
Multifamily LT 5
$450.9K
$394.5K – $526.0K
NOI $31,562 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$428.4K
$374.8K – $499.8K
NOI $29,987 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$995.2K
$870.8K – $1.16M
NOI $69,667 @ 7.0% cap · market cap 20.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
196
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
$214,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lewiston, ME
Properties on Market for Duplexes in Lewiston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments offer two bedrooms, one full bath, a living room, and a kitchen.
Where is this duplex located?
The property is located at 58 Old Greene Road Lewiston, ME.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms and one full bath; Full basement, partially finished; New roof and gutters
