Victorian Duplex with
For Sale
$640,000
9 - 11 Summer Street, Hallowell, ME 04347
Each residence has its own entrance, porch, and utility systems.
Property Size3,620 SF
Price / SF$176.80
Days on Market68
Property Features for 9 - 11 Summer Street
General Information
Standard status
Active
Size
3,620 SF
Property subtype
MULTI_FAMILY
Units
Multifamily Units
2
Individually Metered Utilities
water, electricity
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,541
Building Details
Building Size
3,620 SF
Year Built
1900
Construction
Victorian
Listing Agency:
Coldwell Banker Realty
Listed By:
Michael Bunting
(207) 838-0912
Source:
Hoangrealty
Added: Aug 27
Changed: Oct 27
Last Checked: Oct 31 at 6:17PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1900, this 3,620-square-foot Victorian duplex contains two residences, each with three bedrooms, one and a half baths, a separate entrance, and an individual porch. Each unit has its own furnace, plumbing meters, and electrical service. A full attic adds to the building’s existing interior space, and the basement and foundation have been reconstructed.
The property includes a garage/barn with a second floor that could be finished as separate units or combined into one larger space, as well as an additional shed. The property sits on the hill above downtown Hallowell.
The property includes a garage/barn with a second floor that could be finished as separate units or combined into one larger space, as well as an additional shed. The property sits on the hill above downtown Hallowell.
Key Highlights
- Two residences, each with 3 bedrooms and 1.5 baths
- Separate furnace, plumbing meters, electrical service, entrance, and porch for each unit
- 3,620 square feet; built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,427
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$808,540
$808.5K
Cap Rate 7%
$577,529
$577.5K
Cap Rate 9%
$449,189
$449.2K
Market Conditions
NOI Build-Up for 3,620 SF
Gross rent
$58.6K $16.20/SF
− Vacancy
−$891 −$0.25/SF
EGI
$57.8K $15.95/SF
− OpEx
−$17.3K −$4.79/SF
NOI
$40.4K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$808,540
Cap Rate 7%
$577,529
Cap Rate 9%
$449,189
Alternative Uses
Best Use
Multifamily LT 5
$577.5K
$505.3K – $673.8K
NOI $40,427 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$503.8K
$440.8K – $587.8K
NOI $35,265 @ 7.0% cap · market cap 5.51%
Theoretical Best
Warehouse
$5.40M
$4.73M – $6.30M
NOI $378,048 @ 7.0% cap · market cap 59.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 04347, ME
2,570
Population
1,436
Households
1.8
Avg Household Size
51
Median Age
46%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
436
Density / Sq Mi
$58,811
Median Household Income
$37,027
Median Earnings
$830
Median Rent
$266,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own entrance, porch, and utility systems.
Where is this duplex located?
The property is located at 9 - 11 Summer Street Hallowell, ME.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1.5 baths; Separate furnace, plumbing meters, electrical service, entrance, and porch for each unit; 3,620 square feet; built in 1900
