Two-Unit Duplex with In-Law
For Sale
$325,000
6 High Street, Waterville, ME 04901
Multi-Family, Waterville, ME
Property Size1,815 SF
Lot Size0.20 Acres
Price / SF$179.06
Days on Market68
Property Features for 6 High Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Patio and Porch features
Porch
Pets allowed
No
Interior features
In-Law Apartment, 1st Floor Bedroom, Attic, Bathtub, Shower
Fencing
Fenced
Basement
Unfinished, Walk-Out Access, Full
Lot features
Sidewalks, Intown, Near Town
Standard status
Active
Size
1,815 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3218
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Propane (Heating), Other (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Wood, Carpet, Vinyl
Building materials
Wood Frame, Asbestos, Vinyl Siding
Roof type
Metal, Shingle
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Francois Rodrigue
(207) 873-9013
Added: Jul 7
Changed: Sep 11
Last Checked: Sep 12 at 11:06AM
MLS# 1664860
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex provides 1,815 square feet of residential space on a 0.2-acre lot in Waterville. The property includes an in-law apartment, first-floor bedroom, two bathrooms, attic, basement, porch, and fenced outdoor area. Wood, vinyl, and carpet flooring are complemented by wood-frame construction with vinyl siding, shingle and metal roofing, and heat-pump cooling. Heating sources include propane, electric, and heat-pump systems.
Built in 1900 and zoned RB, the property is served by public water and public sewer. Its High Street location places the residence near shopping, restaurants, schools, and other local amenities. The separate living arrangement supports flexible use for a homeowner, guests, or rental occupancy.
Built in 1900 and zoned RB, the property is served by public water and public sewer. Its High Street location places the residence near shopping, restaurants, schools, and other local amenities. The separate living arrangement supports flexible use for a homeowner, guests, or rental occupancy.
Key Highlights
- Two‑unit duplex with an in‑law apartment
- 1,815 square feet on a 0.2‑acre lot
- RB zoning with public water and public sewer
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate living quarters offer flexibility for rental use, household privacy, or additional guest accommodation.
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 an in‑law apartment; 1,815 square feet on a 0.2‑acre lot; RB zoning with public water and public sewer
