5 Collette Street, Waterville, ME, 04901
About This Home
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.
Getting Around
Somewhat Walkable
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1947
Materials
- Foundation: Poured Concrete
- Roof: Shingle
- Construction materials: Wood Frame,Aluminum Siding
Type & Style
- Home type: MultiFamily
- Architectural style: Other
- Property subType: Multi Family
Interior
Basement
- Has basement: Yes
- Basement: Interior Entry,Walk-Out Access,Finished,Unfinished
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Features
- Flooring: Vinyl,Wood
- Finished area below ground: 0
- Finished area above ground: 1,904
Heating & Cooling
- Heating features: Baseboard
- Cooling features: None
Interior Area
- Total structure area: 1,904
- Total interior livable area: 1,904 sqft
Property
Details
- Parcel number: WAVLM038B022
- Zoning: Residential
Features
- Levels: Multi/Split
Lot
- Lot size: 6,098 sqft
- Features: City Lot,Near Country Club,Near Golf Course,Near Turnpike/Interstate,Neighborhood,Other
Parking
- Total spaces: 2
- Parking features: Paved,1 - 4 Spaces,Off Street
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Winter Weather
- Ice Storm
- Lightning
- Hurricane
- Strong Wind
How This Home’s Risks Compare
FEMA Declared Disasters Across Maine Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $935 | $11,220 |
| Home Insurance | $85 | $1,020 |
| Property Taxes | $299 | $3,588 |
| Electricity | $276 | $3,321 |
| Total | $1,595 | $19,140 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2025-10-29 | Price change | $185,000 |
| 2025-10-20 | Price change | $200,000 |
| 2025-10-12 | Listed for sale | $150,000 |
| 2023-08-23 | Listing removed | -- |
| 2023-08-09 | Price change | $150,000 |
| 2023-08-04 | Price change | $175,000 |
| 2023-07-18 | Listed for sale | $195,000 |
For Sale by Agent
View on Zillow