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    102 Congress Street Belfast, ME 04915

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    Claim this Listing
    For Sale
    $785,000

    MULTI_FAMILY - Other - Belfast, ME

    Property size:
    2,708 SF
    Lot size:
    0.78 Acres
    Price / SF:
    $289/SF
    Added:
    Apr 6, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 29 at 6:06 pm

    Property Features for 102 Congress Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Bathrooms
    4
    Rooms
    Bathroom 2, Bathroom 4, Bathroom 3, Basement, Bathroom 1
    Parking features
    Off Street
    Patio and Porch features
    Porch
    Interior features
    1st Floor Bedroom, Pantry, Shower
    Basement
    Full, Unfinished
    Standard status
    Active
    Size
    2,708 SF
    Lot size
    0.78 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6364

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Other (Heating), Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1878
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Vinyl, Carpet, Wood
    Building materials
    Clapboard, Wood Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Kathleen Coogan
    Kathleen Coogan

    Listing agent Kathleen Coogan

    Listing office Two Rivers Realty, LLC 169 U.S. Route 1, Bucksport, ME

    Listing date Apr 6, 2026

    MLS# 1628989 Listing URL

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Vintage Belfast Multi-Unit Residence

    This vintage 4-unit house, rich in history and family ownership, is situated in Belfast. The property is located in a desirable rental area on an oversized city lot, offering convenient access to shopping, restaurants, galleries, the Belfast harbor and waterfront. The property is also located approximately 1 mile from a small airport. The building showcases antique features, including hardwood floors, ornate ceilings, period radiators, and carved woodwork. Currently configured as four one-bedroom apartments, this historic home presents various opportunities. It can continue functioning as an income-producing property, be converted back to its original single-family residence, or transformed into a residence with an in-law apartment or space for a home business. The 0.78-acre lot may also be subdivided with city approval. The property size is 2708 square feet. It is zoned for residential use. The property is located in Waldo County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belfast
    County
    Waldo
    State
    Maine
    Longitude
    -69.0054581
    Latitude
    44.4200537

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    FAQs

    What type of property is this?
    Quadplex - Historic 4-unit property in prime location near Belfast harbor.
    Where is this quadplex located?
    The property is located at 102 Congress Street Belfast, ME.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: Excellent rental location near Belfast harbor, waterfront, shopping, restaurants, and galleries.; Oversized city lot with subdivision potential (with city approval).; Potential for conversion to single‑family residence, in‑law apartment, or home business.
    (207) 632-5246
    We can help!
    Listing Contact
    Kathleen Coogan
    Kathleen Coogan
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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