About this home
Live on the Kennebec River, steps from everything downtown Hallowell has to offer. All this with rental income to help pay the mortgage. This two-unit property combines water frontage, in-town convenience, and strong rental income. Both units have been remodeled, the first floor was completely redone in 2024 and the exterior has just been painted. Each unit has new appliances, new flooring, new kitchen cabinets and new electrical. The one-bedroom, first floor, unit features hardwood flooring and a private deck overlooking the river, and it can come fully furnished. The second unit is a two-story, four-bedroom, two-bath with hardwood floors on the first floor, beautifully remodeled bathrooms, and a washer and dryer included. A boat launch nearby gives you easy river access, and downtown shops and restaurants are within walking distance from your front door. The property is located in the Downtown district, which allows for business use and opens the door to live-work arrangements, office space, or a storefront (confirm exact use with CEO). Whether you're an investor looking for steady and profitable rental income or an owner-occupant who wants to live on the river and let the other unit help pay the mortgage, this is a rare find in downtown Hallowell. Also listed as single family MLS #1684605
Listing last checked: Listing updated:
Listed by Listing Agent · Real Broker · MLS #1684319
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Details at a glance
Interior4 property facts
- Heating
- Oil, Propane, Baseboard, Hot Water, Zoned
- Cooling
- None
- Flooring
- Laminate, Vinyl, Hardwood
- Fireplaces
- 0
Building5 property facts
- Style
- Duplex
- Year built
- 1900
- Garage
- 0
- Foundation
- Stone, Brick/Mortar
- Roof
- Shingle
Land & utilities5 property facts
- Lot size
- 0.1 acres
- Water
- Public
- Sewer
- Public Sewer
- Waterfront
- Y
- Zoning
- Downtown District
Financial2 property facts
- Annual taxes
- $2,865
- Assessment year
- 2025
Location
Estimated monthly cost
Explore costs at the $400,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$2,261 / monthAdjust
- Principal & interest
- $2,023
- Property tax
- $239
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $2,865. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
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About 230 Water Street
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