Excellent Investment Opportunity - Two-Unit Property with Strong Potential
This two-unit property presents a fantastic opportunity for investors, contractors, or owner-occupants seeking a value-add project. Situated in a convenient Waterville neighborhood close to shopping, schools, and commuter routes, this property offers solid fundamentals and ample room for improvement.
Each unit features a functional layout, providing flexibility for future rental income or multi-generational living. While the building requires repairs and updates, the property's neighborhood setting and structure make it well suited for renovation and long-term return on investment.
Property Highlights:
Two separate units with strong income potential
Convenient neighborhood setting with easy access to amenities
Off-street parking
Flexible floor plans offering renovation and customization opportunities
Priced to reflect needed improvements
This is an ideal opportunity to build equity and create value through thoughtful upgrades. Property is being sold as-is. Price is firm.
Active
Price cut: $15K (10/29)
$185,000
5 Collette Street, Waterville, ME 04901
4beds
1,904sqft
Est.:
Multi Family
Built in 1947
-- sqft lot
$-- Zestimate®
$97/sqft
$-- HOA
What's special
Flexible floor plansFunctional layoutOff-street parking
- 62 days |
- 427 |
- 12 |
Zillow last checked: 8 hours ago
Listing updated: October 29, 2025 at 04:27pm
Listed by:
Tim Dunham Realty 207-729-7297
Source: Maine Listings,MLS#: 1640642
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Heating
- Baseboard
Cooling
- None
Features
- Flooring: Vinyl, Wood
- Basement: Interior Entry,Walk-Out Access,Finished,Unfinished
Interior area
- Total structure area: 1,904
- Total interior livable area: 1,904 sqft
- Finished area above ground: 1,904
- Finished area below ground: 0
Property
Parking
- Total spaces: 2
- Parking features: Paved, 1 - 4 Spaces, Off Street
- Garage spaces: 2
Features
- Levels: Multi/Split
Lot
- Size: 6,098.4 Square Feet
- Features: City Lot, Near Golf Course, Near Shopping, Near Turnpike/Interstate, Neighborhood, Suburban
Details
- Parcel number: WAVLM038B022
- Zoning: Residential
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Multi Family
Materials
- Wood Frame, Aluminum Siding
- Roof: Shingle
Condition
- Year built: 1947
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Waterville
Financial & listing details
- Price per square foot: $97/sqft
- Tax assessed value: $171,600
- Annual tax amount: $3,432
- Date on market: 10/12/2025
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
$1,528/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 10/29/2025 | Price change | $185,000-7.5%$97/sqft |
Source: | ||
| 10/20/2025 | Price change | $200,000+33.3%$105/sqft |
Source: | ||
| 10/12/2025 | Listed for sale | $150,000$79/sqft |
Source: | ||
| 8/23/2023 | Listing removed | -- |
Source: | ||
| 8/9/2023 | Price change | $150,000-14.3%$79/sqft |
Source: | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,432 +0.5% | $171,600 |
| 2023 | $3,415 +48.3% | $171,600 +92.6% |
| 2022 | $2,303 +1.4% | $89,100 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$928/mo
Principal & interest
$717
Property taxes
$146
Home insurance
$65
Climate risks
Neighborhood: 04901
Nearby schools
GreatSchools rating
- 5/10Albert S Hall SchoolGrades: 4-5Distance: 1 mi
- 5/10Waterville Junior High SchoolGrades: 6-8Distance: 0.9 mi
- 4/10Waterville Senior High SchoolGrades: 9-12Distance: 1 mi
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