Two-Unit Duplex with Updated
84 Cumberland Ave, Lewiston, ME 04240
For Sale
New
$375,000
Two three-bedroom residences each provide more than 1,200 square feet, with off-street parking and a detached storage building.
Property Size2,514 SF
Price / SF$149.16
Days on Market3
Property Features for 84 Cumberland Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Amenities
detached outbuilding for storage
off-street parking
Building Details
Year Built
Listed By:
Kathy Gallant
(207) 841-7569
Source:
Gre207
Added: Nov 8
Last Checked: Nov 10 at 8:35AM
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 1926 duplex contains two residences, each with three bedrooms, one full bathroom and more than 1,200 square feet of living area. Hardwood and laminate flooring, natural light and practical layouts characterize the interiors. New windows have been installed throughout, and a detached outbuilding provides storage. Off-street parking is also available.
The property is at 84 Cumberland Avenue in Lewiston, near shopping, restaurants and schools, with access to the interstate for commuting.
The property is at 84 Cumberland Avenue in Lewiston, near shopping, restaurants and schools, with access to the interstate for commuting.
Key Highlights
- Two residences, each with 3 bedrooms, 1 full bathroom and over 1,200 square feet
- 2,514‑square‑foot property built in 1926
- New windows throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,796
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,920
$495.9K
Cap Rate 7%
$354,229
$354.2K
Cap Rate 9%
$275,511
$275.5K
Market Conditions
NOI Build-Up for 2,514 SF
Gross rent
$35.9K $14.28/SF
− Vacancy
−$477 −$0.19/SF
EGI
$35.4K $14.09/SF
− OpEx
−$10.6K −$4.23/SF
NOI
$24.8K $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%
$495,920
Cap Rate 7%
$354,229
Cap Rate 9%
$275,511
Alternative Uses
Best Use
Multifamily LT 5
$354.2K
$310.0K – $413.3K
NOI $24,796 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$336.6K
$294.5K – $392.7K
NOI $23,559 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$781.9K
$684.2K – $912.2K
NOI $54,732 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
589
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
$214,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Lewiston, ME
Properties on Market for Duplexes in Lewiston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences each provide more than 1,200 square feet, with off-street parking and a detached storage building.
Where is this duplex located?
The property is located at 84 Cumberland Ave Lewiston, ME.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms, 1 full bathroom and over 1,200 square feet; 2,514‑square‑foot property built in 1926; New windows throughout the property
