Building Details

Year Built 1920

Listed By: Kathy Gallant Show Phone

Source: Gre207

Added: Oct 14 Changed: Oct 15 Last Checked: Oct 15 at 2:41AM

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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 Kathy Gallant

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Investment Insights

Based on property information with market context.

This 1,488-square-foot duplex contains two apartments: a first-floor unit with two bedrooms and two full bathrooms, and an upstairs unit with one bedroom and one full bathroom. The second-floor apartment also includes an enclosed porch or sunroom with recently installed windows. A newer natural gas heating system serves the property, which was built in 1920.

Outside, the property has a landscaped, fenced side yard and a detached barn/garage that provides storage. The second-floor apartment has a prior furnished-rental history through Airbnb and Furnished Finder.

Key Highlights

• Two apartments: a two‑bedroom, two‑bath first‑floor unit and a one‑bedroom, one‑bath upstairs unit
• 1,488 square feet; built in 1920
• Detached barn/garage provides additional storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,676

Cap Rate

4.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,520 $293.5K

Cap Rate 7%

$209,657 $209.7K

Cap Rate 9%

$163,067 $163.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,488 SF

Gross rent

$21.2K $14.28/SF

− Vacancy

−$283 −$0.19/SF

EGI

$21.0K $14.09/SF

− OpEx

−$6.3K −$4.23/SF

NOI

$14.7K $9.86/SF

Area

Androscoggin County, ME

Vacancy

1.33%

Lease Rate

$14.28 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,520

Cap Rate 7%

$209,657

Cap Rate 9%

$163,067

Alternative Uses

Best Use

Multifamily LT 5

$209.7K

$183.5K – $244.6K (±1% cap)

NOI $14,676 @ 7.0% cap · market cap 4.21%

Second Best

Apartment 5plus

$199.2K

$174.3K – $232.4K (±1% cap)

NOI $13,944 @ 7.0% cap · market cap 4.00%

Theoretical Best

Warehouse

$2.64M

$2.31M – $3.08M (±1% cap)

NOI $184,996 @ 7.0% cap · market cap 53.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Howes Patrick Plumbing Service

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office (Bike/Boat/Book/etc) Store Locksmith Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

391

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - A separate barn/garage, fenced side yard, and enclosed second-floor sunroom add useful space beyond the two apartments.

Where is this duplex located?

The property is located at 72 Webber Ave Lewiston, ME.

What is the asking price?

The asking price for this property is $349,000.

What are key features of this property?

This property features: Two apartments: a two‑bedroom, two‑bath first‑floor unit and a one‑bedroom, one‑bath upstairs unit; 1,488 square feet; built in 1920; Detached barn/garage provides additional storage