Incredible investment opportunity in Westbrook! This rare and wonderful 2-unit property on a truly exceptional lot on Beaver Pond boasts two income-generating 3-bedroom/1-bath units, each with separate entrances, separate electric and heating, in-unit washing machines and a shared dryer in the basement. Plenty of parking and storage with an attached 2-car garage and additional basement and attic space. Bright and airy units with high ceilings and charming period details. There are tenants currently in the upper unit through November 2022 at $2,000 per month. The now-vacant lower unit rented for $2,100, prior to the new laminate flooring installed in the unit and 1st-floor hallway this year. Newer roof; easy-to-maintain lawn (has never needed mowing!); all exterior entrances; porches and decks freshly painted this spring. Freshly painted interior 2021, new motion-sensor safety lights installed outside and in the interior hallway and stairwell 2021. The flexibility of this property is so appealing; with the enchanting urban oasis that the pond and beautiful level yard allows, this could be a multi-generational home (as it was historically), an amenity laden investment as it is now, or a fabulous owner-occupied home that lets you enjoy the warmth and tranquility of nature while the tenants pay your mortgage! Not to mention the convenient location – walkable to downtown Westbrook, restaurants, shopping, parks, health care and public transportation. Minutes to the Mall, the turnpike and Portland. Group showings Saturday 6/11 and Sunday 6/12 from 12:00 noon to 3:00 p. m. * Photos of 2nd floor unit were taken prior to tenant occupancy. Floor Plan & Matterport of 1st floor only, but 2nd unit is nearly identical in layout and dimension.
Multi-familyProperty Type
1937Year Built
0.63 acresLot Size
$266Est. Price/Sq.Ft.
2 car garageParking
Listed by Jennifer Sweeney• Town & Shore Real Estate
Duplex first time on the market and has been owned for decades by owner. A great location with convenient walking access to downtown Westbrook with many restaurants, post office, pharmacy, grocery shopping, library, park and so much more. Just minutes to the Maine Mall Located with water frontage on Beaver Pond with a great back yard for relaxing. Large units with wood floors and trim. A great opportunity for family or as investment!! Income and expenses are estimated.
Year
Property tax
Land + Additions
Assessment*
2023
$6,210 (+10.4%)
$94,400 + $277,900
$372,300
2022
$5,627 (+1.5%)
$78,600 + $232,300
$310,900
2021
$5,543 (−0.2%)
$78,600 + $232,300
$310,900
2020
$5,553
$78,600 + $232,300
$310,900
2019
$5,553 (+13.4%)
$78,600 + $232,300
$310,900
2018
$4,898 (+5.7%)
$68,300 + $177,200
$245,500
2017
$4,635 (+2.6%)
$68,300 + $177,200
$245,500
2016
$4,517 (+2.4%)
$68,300 + $177,200
$245,500
2015
$4,409 (+4.4%)
$68,300 + $177,200
$245,500
2014
$4,223
$68,300 + $177,200
$245,500
Tax history for 61 Spring St
Year
Property tax
Land + Additions
Assessment*
2023
$6,210 (+10.4%)
$94,400 + $277,900
$372,300
2022
$5,627 (+1.5%)
$78,600 + $232,300
$310,900
2021
$5,543 (−0.2%)
$78,600 + $232,300
$310,900
2020
$5,553
$78,600 + $232,300
$310,900
2019
$5,553 (+13.4%)
$78,600 + $232,300
$310,900
2018
$4,898 (+5.7%)
$68,300 + $177,200
$245,500
2017
$4,635 (+2.6%)
$68,300 + $177,200
$245,500
2016
$4,517 (+2.4%)
$68,300 + $177,200
$245,500
2015
$4,409 (+4.4%)
$68,300 + $177,200
$245,500
2014
$4,223
$68,300 + $177,200
$245,500
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.