Two-Unit Residential
89 Oak Street Lewiston, ME 04240
For Sale
$229,000
Duplex with two occupied apartments, fenced yard, and updated exterior features, offering a straightforward rental setup.
Property Size1,413 SF
Price / SF$162.07
Days on Market82
Property Features for 89 Oak Street
General Information
- Standard status
- Active
- Size
- 1,413 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing Agency:
Meservier & Associates
(207) 779-0367
Listed By:
Kenneth Jacques
(207) 779-0367
Source:
Compass
Added: May 5
Changed: Jul 10
Last Checked: Jul 24 at 12:26PM
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 Meservier & Associates
Investment Insights
Based on property information with market context.
This two-unit residential duplex is currently arranged with a two-bedroom, one-bath apartment and in-unit laundry on the first floor, and a one-bedroom, one-bath apartment on the second floor. The property includes a fenced-in yard, and the seller indicates appliances are included. Exterior and major components have been maintained with vinyl siding and replacement windows, and the chimney has been recently sleeved and capped.
The home is located at 89 Oak Street in Lewiston, Maine. It is presented as a maintained investment property with long-term tenants in place, allowing for a turnkey transition for an owner who wants to add a duplex to their residential income portfolio.
For investors or buyers seeking an income-producing duplex, the separate two-level configuration provides distinct unit layouts while keeping maintenance centralized under one roof. The included appliances and recent exterior/roofline work (replacement windows, vinyl siding, and the updated chimney) help reduce near-term discretionary repairs, supporting a practical ownership plan. Prospective purchasers should verify all details of the leases and operating history during due diligence.
The home is located at 89 Oak Street in Lewiston, Maine. It is presented as a maintained investment property with long-term tenants in place, allowing for a turnkey transition for an owner who wants to add a duplex to their residential income portfolio.
For investors or buyers seeking an income-producing duplex, the separate two-level configuration provides distinct unit layouts while keeping maintenance centralized under one roof. The included appliances and recent exterior/roofline work (replacement windows, vinyl siding, and the updated chimney) help reduce near-term discretionary repairs, supporting a practical ownership plan. Prospective purchasers should verify all details of the leases and operating history during due diligence.
Key Highlights
- 2‑unit duplex with long‑term tenants and an established rental history
- 1st‑floor unit: 2 bedrooms, 1 bath, and laundry (main level) with washer hookups
- 2nd‑floor unit: 1 bedroom and 1 bath
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.2k | $14.28 |
| − Vacancy | −$268 | −$0.19 |
| EGI | $19.9k | $14.09 |
| − OpEx | −$6.0k | −$4.23 |
| NOI | $13.9k | $9.86 |
1,413 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$199.1K
$174.2K – $232.3K
NOI $13,936 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$189.2K
$165.5K – $220.7K
NOI $13,241 @ 7.0% cap · market cap 5.78%
Theoretical Best
Warehouse
$2.51M
$2.20M – $2.93M
NOI $175,672 @ 7.0% cap · market cap 76.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two occupied apartments, fenced yard, and updated exterior features, offering a straightforward rental setup.
Where is this duplex located?
The property is located at 89 Oak Street Lewiston, ME.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 2‑unit duplex with long‑term tenants and an established rental history; 1st‑floor unit: 2 bedrooms, 1 bath, and laundry (main level) with washer hookups; 2nd‑floor unit: 1 bedroom and 1 bath
