Updated Two-Unit
For Sale
$300,000
74 King Ave, Lewiston, ME 04240
One residence is occupied while the other is vacant, with updated interiors and heat pumps throughout.
Property Size1,926 SF
Price / SF$155.76
Days on Market63
Property Features for 74 King Ave
General Information
Standard status
Active
Size
1,926 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,285
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Erika Ewers
(207) 835-9277
Source:
Exprealty
Added: Aug 5
Changed: Oct 6
Last Checked: Oct 6 at 12:32AM
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 EXP Realty
Investment Insights
Based on property information with market context.
Built in 1924, this 1,926-square-foot duplex contains two residences with two bedrooms in each unit. The upper residence is occupied, while the lower residence is vacant. Recent improvements include heat pumps throughout, new flooring, fresh paint, and a replacement oven in the lower unit.
The lower residence features an open arrangement with a kitchen island, a spacious mudroom, and a sunroom connected to the larger bedroom. The property is located at 74 King Avenue in Lewiston, Maine.
The lower residence features an open arrangement with a kitchen island, a spacious mudroom, and a sunroom connected to the larger bedroom. The property is located at 74 King Avenue in Lewiston, Maine.
Key Highlights
- Two‑bedroom layout in each unit
- 1,926 SF duplex built in 1924
- Upper unit occupied; lower unit vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,996
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,920
$379.9K
Cap Rate 7%
$271,371
$271.4K
Cap Rate 9%
$211,067
$211.1K
Market Conditions
NOI Build-Up for 1,926 SF
Gross rent
$27.5K $14.28/SF
− Vacancy
−$366 −$0.19/SF
EGI
$27.1K $14.09/SF
− OpEx
−$8.1K −$4.23/SF
NOI
$19.0K $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%
$379,920
Cap Rate 7%
$271,371
Cap Rate 9%
$211,067
Alternative Uses
Best Use
Multifamily LT 5
$271.4K
$237.5K – $316.6K
NOI $18,996 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$257.8K
$225.6K – $300.8K
NOI $18,048 @ 7.0% cap · market cap 6.02%
Theoretical Best
Warehouse
$3.42M
$2.99M – $3.99M
NOI $239,450 @ 7.0% cap · market cap 79.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
386
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied while the other is vacant, with updated interiors and heat pumps throughout.
Where is this duplex located?
The property is located at 74 King Ave Lewiston, ME.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑bedroom layout in each unit; 1,926 SF duplex built in 1924; Upper unit occupied; lower unit vacant
