Updated Duplex With Three-Bay
New
For Sale
$469,000
7 Spring Street, Brunswick, ME 04011
Brunswick, ME
Property Size1,658 SF
Price / SF$282.87
Days on Market1
Property Features for 7 Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bathrooms
2
Full bathrooms
2
Standard status
Active
Size
1,658 SF
Building Details
Year built
1890
Listing Agency:
Engel & Volkers Harpswell · Engel & Völkers
(207) 833-0500
Added: Sep 8
Last Checked: Sep 8 at 6:06PM
MLS# 1679609
Copyright © 2026 Engel & Völkers. 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.
Located at 7 Spring Street in Brunswick, this 1,658-square-foot duplex contains two renovated units within a building constructed in 1890. A newly installed heat pump provides heating and cooling, while the attached three-bay garage adds substantial enclosed space for vehicles, storage, hobbies, or workshop use. On-site parking further supports the property’s practical configuration.
The property is near Maine Street, with access to Brunswick restaurants, cafés, shops, cultural attractions, and Bowdoin College. The coast and recreational destinations in Midcoast Maine are also within a short drive. The combination of two updated units, dedicated parking, and attached garage space creates a flexible residential income property in a walkable Brunswick setting.
The property is near Maine Street, with access to Brunswick restaurants, cafés, shops, cultural attractions, and Bowdoin College. The coast and recreational destinations in Midcoast Maine are also within a short drive. The combination of two updated units, dedicated parking, and attached garage space creates a flexible residential income property in a walkable Brunswick setting.
Key Highlights
- Two‑unit duplex with both units renovated
- 1,658 square feet of building area
- Attached three‑bay garage
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 - Two renovated units include a newly installed heat pump and attached garage space.
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 both units renovated; 1,658 square feet of building area; Attached three‑bay garage
