Leased Duplex with Updated
For Sale
$525,000
92 Cottage Street, Westbrook, ME 04092
Public water and sewer support two leased residences with recent roof and heating improvements.
Property Size1,260 SF
Price / SF$416.67
Days on Market56
Property Features for 92 Cottage Street
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$60,000
Building Details
Year Built
1910
Listing Agency:
Keller Williams Realty
Listed By:
Michael Hamilton · License #BA922188
(207) 570-8998
Source:
Greatislandrealty
Added: Sep 12
Changed: Nov 5
Last Checked: Nov 4 at 4:49PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 1910-built duplex contains two leased units with a combined 1,260 square feet, four bedrooms, and two baths. The property is connected to public water and sewer, with a roof installed in 2023 and Rinnai heat added in 2021. The owner currently covers gas, electric, and water service, creating an opportunity to evaluate separate billing or tenant reimbursement arrangements.
The property is within walking distance of downtown Westbrook and a short drive from Portland. Leases, a rent roll, and utility history are available to qualified buyers for review.
The property is within walking distance of downtown Westbrook and a short drive from Portland. Leases, a rent roll, and utility history are available to qualified buyers for review.
Key Highlights
- Two leased units with four bedrooms and two baths
- 1,260 sq ft duplex built in 1910
- Roof replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,266
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,320
$445.3K
Cap Rate 7%
$318,086
$318.1K
Cap Rate 9%
$247,400
$247.4K
Market Conditions
NOI Build-Up for 1,260 SF
Gross rent
$34.0K $27.00/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$31.8K $25.25/SF
− OpEx
−$9.5K −$7.57/SF
NOI
$22.3K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,320
Cap Rate 7%
$318,086
Cap Rate 9%
$247,400
Alternative Uses
Best Use
Multifamily LT 5
$318.1K
$278.3K – $371.1K
NOI $22,266 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$295.9K
$258.9K – $345.3K
NOI $20,715 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$346.3K
$303.0K – $404.0K
NOI $24,242 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
Explore this area
Business Placement
Demographics for 04092, ME
20,400
Population
9,404
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
96%
High-School Grad
17.2 sq mi
ZIP Area
1,186
Density / Sq Mi
$85,868
Median Household Income
$49,922
Median Earnings
$1,373
Median Rent
$341,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Public water and sewer support two leased residences with recent roof and heating improvements.
Where is this duplex located?
The property is located at 92 Cottage Street Westbrook, ME.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two leased units with four bedrooms and two baths; 1,260 sq ft duplex built in 1910; Roof replaced in 2023
