12-14 High St 4 Unit Apartment Building Offered at $125,000 at a 19% Cap Rate Houlton, ME 04730

SITE DEVELOPMENT UPDATE: This property is no longer a renovation project; it is a High-Performance Site Development. Following the loss of the original structure, the site is being cleared to host Monolithic Dome housing.
The Monolithic Dome is the Highest and Best Use for this location because it addresses the two greatest risks in the Houlton market: Fire and Energy Costs. These steel-reinforced concrete shells provide "Near-Absolute Protection" from disaster and act as a thermal battery, storing heat in the winter and staying cool in the summer.
As the Equitable Interest Holder (per 36 M.R.S. § 943-C), the seller is marketing the property's capacity for high-density, energy-efficient housing. Whether configured as a single triplex or a double-dome complex, the Monolithic structure ensures a permanent, low-maintenance asset that maximizes the land's value.
FURTHER UPDATES TO FOLLOW.

Investment Opportunity: 12 & 14 High Street, Houlton, ME
Unmet Housing Demand in Houlton, Maine Houlton, a historic border town situated less than a mile from Canada, is experiencing a significant and ongoing housing shortage. According to the Town of Houlton's 2023 Comprehensive Plan and the Southern Aroostook County Housing Needs Assessment:
The rental vacancy rate in Houlton is under 3%, well below the healthy market benchmark of 5%.
Over 30% of renters in the region are cost-burdened, spending more than 30% of their income on housing.
Southern Aroostook County is short at least 125 affordable rental units, with the most acute need in 1-bedroom and 2-bedroom categories.
This makes 12 & 14 High Street especially valuable: the units at 12 High Street include a 1-bedroom and a 2-bedroom—precisely the types of units most needed in the region—while 14 High Street offers a 3-bedroom home that meets family housing demand. Investors who rehabilitate and lease these units not only gain income potential but directly address a documented housing shortfall.
Property Overview: 4 Units, 2 Structures, One Deed
Address: 12 & 14 High Street, Houlton, ME 04730
12 High Street (Triplex):
Level 1: 1BR/1BA – 1,512 sq ft – Propane heat, electric stove, electric hot water
Level 2: 2BR/1BA – 1,512 sq ft – Electric heat, stove, hot water
Level 3: Studio/1BA – 720 sq ft – Electric heat, stove, hot water
14 High Street (Single-Family Home): 3BR/1BA – approx. 816 sq ft – Propane Oil heat, electric stove/hot water
Separate electric metering; owner pays water/sewer; trash to transfer station
Efficiency Upgrade Plan & Cost Control Strategy
Plan: Convert heat, hot water, and cooking to propane or oil (as applicable)
Goal: Minimize tenant utility burden and increase voucher-backed rent potential
Utility Allowance Comparison – 3BR Example (MaineHousing 2025):
Electric: $514/mo | Propane: $358/mo | Oil: $370/mo
Potential monthly rent lift from fuel conversion: up to $156/unit
Investment Use Scenarios (For illustrative purposes only; not a guarantee)
Buy & Flip: Total investment ~$175K; potential resale ~$265K
Buy & Hold: Rent 4 units under Section 8; projected NOI ~$23.9K; 8.5% cap rate valuation ~$281K
Owner-Occupy (Live in 14 High): Rent triplex; collect ~$2,651/mo income
Owner-Occupy (Live in Triplex): Rent 14 High for ~$1,432/mo
Split into Two Rentals: Projected informal resale values—$150K (12 High), $115K (14 High)
Offered at: $125,000
Sold AS IS by Songs for Centuries Studios
All figures based on publicly available data from MaineHousing: mainehousing.org
*Property includes four residential units across two structures on one deed: a triplex at 12 High Street and a single-family home at 14 High Street. Units are currently vacant and not tenant-ready. Estimated renovation budget is $50,000 (itemized scope available upon request).
Potential rental income is modeled using MaineHousing 2025 payment standards for Aroostook County as a conservative benchmark. Tenant-paid utilities are assumed, with landlord covering only water/sewer.
Operating expenses include insurance, water/sewer, snow removal, and taxes. Utility allowance values are included as an expense category for transparency and alignment with investor expectations.
Projected contract rent across all units is $2,531/month, yielding a true Net Operating Income (NOI) of $23,792/year. Estimated cap rate: 19% post-renovation.
** If new owner decided to convert all electric to propane(i.e bottled gas) it would increase the NOI and Cap Rate(see Below for Summary)
| Metric | Before Conversion | After Propane Conversion | Gain |
| --------------------- | ----------------- | ------------------------ | -------- |
| Monthly Contract Rent | \$2,531 | \$2,817 | +\$286 |
| Annual Contract Rent | \$30,372 | \$33,804 | +\$3,432 |
| NOI | \$23,792 | \$27,224 | +\$3,432 |
| Cap Rate (on \$125K) | 19.0% | **21.8%**


Offered AS IS by Songs for Centuries Studios. Clear title. Ideal for investors seeking income-generating residential property with room to add value.