Two-Unit
For Sale
$325,000
6 High Street, Waterville, ME 04901
Two-unit duplex with separate living areas near shopping, restaurants, and schools in Waterville, Maine.
Property Size1,815 SF
Price / SF$179.06
Days on Market119
Property Features for 6 High Street
General Information
Standard status
Active
Size
1,815 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Francois Rodrigue
(603) 866-2942
Source:
Profoundrealestate
Added: Apr 16
Changed: Aug 11
Last Checked: Aug 11 at 9:48AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This two-unit duplex offers flexibility for homeowners and investors, with separate living areas designed to provide added privacy and versatility. The layout can support multi-generational living, generate rental income potential, or provide extra guest space.
The property is located close to local amenities, including shopping, restaurants, and schools. Access to everyday conveniences can help support both owner-occupant and income-focused plans.
Built in 1900, the duplex includes 1,815 square feet of total property size. With its two separate living areas, it’s well suited for buyers seeking a property that can accommodate more than one household or income-producing arrangement.
The property is located close to local amenities, including shopping, restaurants, and schools. Access to everyday conveniences can help support both owner-occupant and income-focused plans.
Built in 1900, the duplex includes 1,815 square feet of total property size. With its two separate living areas, it’s well suited for buyers seeking a property that can accommodate more than one household or income-producing arrangement.
Key Highlights
- Two‑unit duplex with separate living areas
- 1,815 square feet total property size
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,269
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$405,380
$405.4K
Cap Rate 7%
$289,557
$289.6K
Cap Rate 9%
$225,211
$225.2K
Market Conditions
NOI Build-Up for 1,815 SF
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.
Gross rent
$29.4K $16.20/SF
− Vacancy
−$447 −$0.25/SF
EGI
$29.0K $15.95/SF
− OpEx
−$8.7K −$4.79/SF
NOI
$20.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$405,380
Cap Rate 7%
$289,557
Cap Rate 9%
$225,211
Alternative Uses
Best Use
Multifamily LT 5
$289.6K
$253.4K – $337.8K
NOI $20,269 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$252.6K
$221.0K – $294.7K
NOI $17,681 @ 7.0% cap · market cap 5.44%
Theoretical Best
Warehouse
$2.71M
$2.37M – $3.16M
NOI $189,546 @ 7.0% cap · market cap 58.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 04901, ME
26,491
Population
12,084
Households
2.2
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
78.8 sq mi
ZIP Area
336
Density / Sq Mi
$54,122
Median Household Income
$33,623
Median Earnings
$957
Median Rent
$188,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with separate living areas near shopping, restaurants, and schools in Waterville, Maine.
Where is this duplex located?
The property is located at 6 High Street Waterville, ME.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with separate living areas; 1,815 square feet total property size; Built in 1900
