Orono Duplex Near University of
3 Park Street Orono, ME 04473
3 Park Street, Orono, ME, 04473
$277,000
For Sale
$277,000
MULTI_FAMILY - Cape Cod - Orono, ME
Property Size1,656 SF
Lot Size0.19 Acres
Price / SF$167.27
Days on Market67
Property Features for 3 Park Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MDR
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Basement
- Parking features
- Off Street
- Interior features
- 1st Floor Bedroom, Shower
- Basement
- Full, Unfinished, Walk-Out Access, Sump Pump
- Standard status
- Active
- Size
- 1,656 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 3676
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Oil
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl, Carpet
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Cape Cod
Listing Agency
Two Rivers Realty, LLC
(207) 469-9930
169 U.S. Route 1, Bucksport, ME
Listed by
Daniel Burpee
(207) 735-5337
Added: May 13 Checked: Jul 18 at 5:06 pm
MLS# 1662057
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.
Investment Insights
Based on property information with market context.
Located in the heart of downtown Orono, this duplex offers an investment opportunity with a strong rental history and consistent occupancy. The property includes one 2-bedroom unit and one 3-bedroom unit. Situated minutes from the University of Maine, it provides access to campus, local restaurants, shopping, and downtown amenities. Additional features include ample off-street parking and basement laundry facilities. The property is fully occupied and represents a turnkey investment. The property size is 1656 square feet and the lot size is 0.19 acres. The zoning is MDR.
Key Highlights
- Cape Cod‑style duplex with one 2‑bedroom unit and one 3‑bedroom unit
- Fully occupied duplex with strong rental history and consistent occupancy (per public remarks)
- Off‑street parking and basement laundry facilities
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.9k | $13.80 |
| − Vacancy | −$1.2k | −$0.71 |
| EGI | $21.7k | $13.09 |
| − OpEx | −$6.5k | −$3.93 |
| NOI | $15.2k | $9.16 |
1,656 SF · lease $13.80/SF/yr · vacancy 5.13% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$216.8K
$189.7K – $252.9K
NOI $15,176 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$199.4K
$174.5K – $232.6K
NOI $13,958 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$534.8K
$468.0K – $624.0K
NOI $37,439 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Spacious duplex in downtown Orono, near University of Maine.
Where is this duplex located?
The property is located at 3 Park Street Orono, ME.
What is the asking price?
The asking price for this property is $277,000.
What are key features of this property?
This property features: Cape Cod‑style duplex with one 2‑bedroom unit and one 3‑bedroom unit; Fully occupied duplex with strong rental history and consistent occupancy (per public remarks); Off‑street parking and basement laundry facilities
