Two-Unit
88 Summer Street, Lewiston, ME 04240
For Sale
New
$250,000
Multi-Family, Lewiston, ME
Property Size1,892 SF
Lot Size0.10 Acres
Price / SF$132.14
Days on Market2
Property Features for 88 Summer Street
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Pets allowed
Interior features
Fencing
Basement
Lot features
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Amenities
shared laundry room
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Eliza Alexander
(207) 751-8551
Added: Nov 12
Changed: Nov 13
Last Checked: Nov 13 at 11:06PM
MLS# 1687596
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.
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Investment Insights
Based on property information with market context.
Built in 1914, this 1,892-square-foot duplex contains two residences on a 0.1-acre lot. One unit has 2 bedrooms, 1 full bathroom, and an open-concept layout; the other includes 3 bedrooms, 2 bathrooms, an open-concept design, and an enclosed porch. A first-level laundry room serves both units.
The property is at 88 Summer Street in Lewiston, Maine, and is zoned NCB. Public water and sewer serve the site. Building details include a wood-frame structure, shingle roof, and oil-fired hot-water baseboard heating. Interior finishes include vinyl, wood, and laminate flooring.
The property is at 88 Summer Street in Lewiston, Maine, and is zoned NCB. Public water and sewer serve the site. Building details include a wood-frame structure, shingle roof, and oil-fired hot-water baseboard heating. Interior finishes include vinyl, wood, and laminate flooring.
Key Highlights
- Two units: one with 2 bedrooms and 1 full bathroom; the other with 3 bedrooms and 2 bathrooms
- 1,892 square feet on a 0.1‑acre lot
- Built in 1914; zoned NCB
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,661
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,220
$373.2K
Cap Rate 7%
$266,586
$266.6K
Cap Rate 9%
$207,344
$207.3K
Market Conditions
NOI Build-Up for 1,892 SF
Gross rent
$27.0K $14.28/SF
− Vacancy
−$359 −$0.19/SF
EGI
$26.7K $14.09/SF
− OpEx
−$8.0K −$4.23/SF
NOI
$18.7K $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%
$373,220
Cap Rate 7%
$266,586
Cap Rate 9%
$207,344
Alternative Uses
Best Use
Multifamily LT 5
$266.6K
$233.3K – $311.0K
NOI $18,661 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$253.3K
$221.6K – $295.5K
NOI $17,730 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$588.4K
$514.9K – $686.5K
NOI $41,191 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,899
Businesses Nearby
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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
$214,200
Median Home Value
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Market
Average Price Trend$/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 residences offer distinct bedroom and bathroom configurations, with shared laundry on the first level.
Where is this duplex located?
The property is located at 88 Summer Street Lewiston, ME.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two units: one with 2 bedrooms and 1 full bathroom; the other with 3 bedrooms and 2 bathrooms; 1,892 square feet on a 0.1‑acre lot; Built in 1914; zoned NCB
