Building Details

Year Built 1900

Buildings 1

Listing Agency: ERA Dawson-Bradford Co.

Listed By: Augustine Ofili Show Phone

Source: Lawanaandcompany

Added: Mar 18 Changed: Sep 15 Last Checked: Oct 7 at 1:23PM

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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 ERA Dawson-Bradford Co.

Investment Insights

Based on property information with market context.

This residential duplex was rebuilt from the studs and includes two units with updated kitchens, refreshed bathrooms, and new interior finishes. Each residence has its own entrance, while spray foam insulation and electric baseboard heat provide upgraded building systems. The property was originally built in 1900 and has Residential zoning.

Located at 916 Main Street in Old Town, the property is minutes from the University of Maine. Tenants pay their own electricity, while public water, sewer, and trash service are included. The configuration supports separate occupancy and straightforward utility responsibility across both units.

Key Highlights

• Two‑unit duplex rebuilt from the studs
• Private entrance serving each unit
• Updated kitchens, bathrooms, and interior finishes

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,747

Cap Rate

4.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$274,940 $274.9K

Cap Rate 7%

$196,386 $196.4K

Cap Rate 9%

$152,744 $152.7K

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$20.7K $13.80/SF

− Vacancy

−$1.1K −$0.71/SF

EGI

$19.6K $13.09/SF

− OpEx

−$5.9K −$3.93/SF

NOI

$13.7K $9.16/SF

Area

Penobscot County, ME

Vacancy

5.13%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$274,940

Cap Rate 7%

$196,386

Cap Rate 9%

$152,744

Alternative Uses

Best Use

Multifamily LT 5

$196.4K

$171.8K – $229.1K (±1% cap)

NOI $13,747 @ 7.0% cap · market cap 4.91%

Second Best

Apartment 5plus

$180.6K

$158.0K – $210.7K (±1% cap)

NOI $12,643 @ 7.0% cap · market cap 4.52%

Theoretical Best

Office A

$484.5K

$423.9K – $565.2K (±1% cap)

NOI $33,912 @ 7.0% cap · market cap 12.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Auto Parts Store Building Supply Electrical Service Plumbing Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

48

Businesses Nearby

Explore this area Business Placement

Demographics for 04468, ME

8,801

Population

4,664

Households

1.9

Avg Household Size

38

Median Age

33%

College-Educated

96%

High-School Grad

122.8 sq mi

ZIP Area

72

Density / Sq Mi

$51,063

Median Household Income

$36,005

Median Earnings

$980

Median Rent

$182,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer updated kitchens, refreshed bathrooms, and separate entrances near the University of Maine.

Where is this duplex located?

The property is located at 916 Main St Old Town, ME.

What is the asking price?

The asking price for this property is $279,900.

What are key features of this property?

This property features: Two‑unit duplex rebuilt from the studs; Private entrance serving each unit; Updated kitchens, bathrooms, and interior finishes