Leased Two-Unit
New
For Sale
$525,000
92 Cottage Street, Westbrook, ME 04092
Multi-Family, Westbrook, ME
Property Size1,260 SF
Lot Size0.12 Acres
Price / SF$416.67
Days on Market3
Property Features for 92 Cottage Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
11
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Patio and Porch features
Deck
Interior features
1st Floor Bedroom, Bathtub, Shower, Storage
Basement
Unfinished, Full
Lot features
Open, Sidewalks, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood
Standard status
Active
Size
1,260 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
3750
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Cape Cod
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Michael Hamilton · License #BA922188
(207) 570-8998
Added: Sep 14
Last Checked: Sep 16 at 4:06AM
MLS# 1680542
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.
Investment Insights
Based on property information with market context.
This 1910 Cape Cod-style duplex contains two residential units with a combined 1,260 square feet, four bedrooms, and two bathrooms. The property includes storage, a basement, a deck, carpet and vinyl flooring, wood-frame construction, vinyl siding, and a shingle roof. Natural-gas heating serves the building, with a Rinnai system installed in 2021 and a 2023 roof. Public water and public sewer are connected.
The 0.12-acre property is located at 92 Cottage Street in Westbrook, with downtown within walking distance and Portland a short drive away. Both units are leased. The owner currently covers gas, electric, and water expenses, with lease, rent-roll, and utility-history documentation available to qualified buyers.
The 0.12-acre property is located at 92 Cottage Street in Westbrook, with downtown within walking distance and Portland a short drive away. Both units are leased. The owner currently covers gas, electric, and water expenses, with lease, rent-roll, and utility-history documentation available to qualified buyers.
Key Highlights
- Two‑unit duplex with four bedrooms and two bathrooms
- 1,260 square feet across two residential units
- 0.12‑acre lot at 92 Cottage Street, Westbrook, ME 04092
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,266
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Cape Cod-style duplex with public utilities, two residential units, and current leases in place.
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‑unit duplex with four bedrooms and two bathrooms; 1,260 square feet across two residential units; 0.12‑acre lot at 92 Cottage Street, Westbrook, ME 04092
