Updated Two-Unit
New
For Sale
$469,000
7 Spring Street, Brunswick, ME 04011
Multi-Family, Brunswick, ME
Property Size1,658 SF
Lot Size0.23 Acres
Price / SF$282.87
Days on Market1
Property Features for 7 Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Parking features
Open, Off Street
Patio and Porch features
Porch
Pets allowed
No
Interior features
1st Floor Bedroom, Bathtub
Basement
Walk-Out Access, Unfinished, Full
Lot features
Other Site, Near Country Club, Open, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
1,658 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4852
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Oil, Hot Water(Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1890
Floors in Building
1
Number of units
2
Flooring type
Laminate, Vinyl, Carpet
Building materials
Wood Frame, Asbestos, Clapboard, Shingle Siding
Roof type
Shingle, Composition, Metal
Architectural style
Other
Listing Agency:
Engel & Volkers Casco Bay
(207) 833-0500
Listed By:
Bruce Davis
(207) 798-9595
Added: Sep 8
Last Checked: Sep 8 at 3:06PM
MLS# 1679609
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 contains 1,658 square feet on a 0.23-acre lot and was built in 1890. Both units have been renovated and include updated living areas, with a first-floor bedroom and bathtub among the interior features. A newly installed heat pump provides heating and cooling, complemented by oil, baseboard, electric, and hot-water heating systems.
The property includes an attached three-bay garage, off-street and open parking, and a porch. Wood-frame construction features clapboard and shingle siding, while flooring includes vinyl, laminate, and carpet. Public water and public sewer serve the property, which is zoned Res and located at 7 Spring Street in Brunswick, Maine.
The property includes an attached three-bay garage, off-street and open parking, and a porch. Wood-frame construction features clapboard and shingle siding, while flooring includes vinyl, laminate, and carpet. Public water and public sewer serve the property, which is zoned Res and located at 7 Spring Street in Brunswick, Maine.
Key Highlights
- Two‑unit duplex with 1,658 square feet of property size
- 0.23‑acre lot in Brunswick, ME 04011
- Both units renovated
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
$29,299
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
6.25%
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%
$585,980
$586.0K
Cap Rate 7%
$418,557
$418.6K
Cap Rate 9%
$325,544
$325.5K
Market Conditions
NOI Build-Up for 1,658 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
$44.8K $27.00/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$41.9K $25.25/SF
− OpEx
−$12.6K −$7.57/SF
NOI
$29.3K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$585,980
Cap Rate 7%
$418,557
Cap Rate 9%
$325,544
Alternative Uses
Best Use
Multifamily LT 5
$418.6K
$366.2K – $488.3K
NOI $29,299 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$389.4K
$340.7K – $454.3K
NOI $27,259 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$455.7K
$398.7K – $531.7K
NOI $31,899 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 04011, ME
21,756
Population
9,440
Households
2.3
Avg Household Size
44
Median Age
52%
College-Educated
96%
High-School Grad
46.8 sq mi
ZIP Area
465
Density / Sq Mi
$74,102
Median Household Income
$40,075
Median Earnings
$1,341
Median Rent
$343,600
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 - Renovated units, public utilities, and a three-bay garage support flexible residential income use.
Where is this duplex located?
The property is located at 7 Spring Street Brunswick, ME.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,658 square feet of property size; 0.23‑acre lot in Brunswick, ME 04011; Both units renovated
