Colonial Duplex With Off-Street
For Sale
$299,900
36 Larkin Street, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size2,112 SF
Lot Size0.15 Acres
Price / SF$141
Days on Market30
Property Features for 36 Larkin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
URD-1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Parking features
Off Street
Basement
Full, Unfinished
Lot features
Open, Level, Sidewalks, Intown, Near Golf Course, Near Shopping, Near Turnpike/ Interstate
Standard status
Active
Size
2,112 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2990
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Propane (Heating), Hot Water(Heating)
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Berkshire Hathaway HomeServices Northeast Real Estate · Prudential Real Estate
(207) 942-8261
Listed By:
Emily Ellis · License #SP40986
(207) 852-7691
Added: Jul 28
Changed: Aug 19
Last Checked: Aug 26 at 1:06PM
MLS# 1673831
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.
Built in 1900, this 2,112-square-foot duplex occupies a 0.15-acre lot and features Colonial architecture with wood-frame construction and vinyl siding. Interior finishes include vinyl and carpet flooring, while the property includes two bathrooms and a basement. Heating is provided through baseboard and hot-water systems using propane.
The property has off-street parking and is served by public water and public sewer. Shingle roofing, a Colonial layout, and URD-1 zoning round out the core physical and land-use details.
The property has off-street parking and is served by public water and public sewer. Shingle roofing, a Colonial layout, and URD-1 zoning round out the core physical and land-use details.
Key Highlights
- 2,112 square feet on a 0.15‑acre lot
- Duplex built in 1900 with Colonial architectural style
- Wood‑frame construction with vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,100
$387.1K
Cap Rate 7%
$276,500
$276.5K
Cap Rate 9%
$215,056
$215.1K
Market Conditions
NOI Build-Up for 2,112 SF
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.
Gross rent
$29.1K $13.80/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$27.7K $13.09/SF
− OpEx
−$8.3K −$3.93/SF
NOI
$19.4K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,100
Cap Rate 7%
$276,500
Cap Rate 9%
$215,056
Alternative Uses
Best Use
Multifamily LT 5
$276.5K
$241.9K – $322.6K
NOI $19,355 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$254.3K
$222.5K – $296.7K
NOI $17,802 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$682.1K
$596.9K – $795.8K
NOI $47,748 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Wood-frame duplex with public water and sewer service, baseboard heating, and a basement.
Where is this duplex located?
The property is located at 36 Larkin Street Bangor, ME.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,112 square feet on a 0.15‑acre lot; Duplex built in 1900 with Colonial architectural style; Wood‑frame construction with vinyl siding
