Three-Unit Multifamily
For Sale
$860,000
438-440 St. John, Portland, ME 04102
Multi-Family, Portland, ME
Property Size3,610 SF
Lot Size0.12 Acres
Price / SF$238.23
Days on Market127
Property Features for 438-440 St. John
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Basement
Basement
Unfinished
Lot features
Level, Sidewalks, Intown
Standard status
Active
Size
3,610 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9829
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Oil
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Laminate, Hardwood, Tile
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 282-5988
Listed By:
Lisa Hughes
(207) 294-2933
Added: Jun 2
Changed: Sep 14
Last Checked: Oct 6 at 6:06PM
MLS# 1661478
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 at 438-440 St. John Street, this 3,610-square-foot multifamily property contains a detached single-family residence and a duplex on a 0.12-acre lot. The three units are each configured with three bedrooms, and the property includes off-street parking. Wood-frame construction, wood siding, shingle roofing, and a mix of hardwood, tile, and laminate flooring define the improvements. Heating is provided by oil-fired hot water systems, with public water and public sewer serving the property.
The property is near the University of Southern Maine, Hadlock Field, The Expo, Deering Oaks Park, downtown Portland, restaurants, shopping, and public transportation. Built in 1900 and currently fully occupied, the asset is zoned R5 and offers a combination of residential configuration and established occupancy.
The property is near the University of Southern Maine, Hadlock Field, The Expo, Deering Oaks Park, downtown Portland, restaurants, shopping, and public transportation. Built in 1900 and currently fully occupied, the asset is zoned R5 and offers a combination of residential configuration and established occupancy.
Key Highlights
- Three units, each with a three‑bedroom layout
- Detached single‑family home plus duplex on one 0.12‑acre lot
- 3,610 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,351
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,187,020
$1.2M
Cap Rate 7%
$847,871
$847.9K
Cap Rate 9%
$659,456
$659.5K
Market Conditions
NOI Build-Up for 3,610 SF
Gross rent
$114.8K $31.80/SF
− Vacancy
−$6.9K −$1.91/SF
EGI
$107.9K $29.89/SF
− OpEx
−$48.6K −$13.45/SF
NOI
$59.4K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,187,020
Cap Rate 7%
$847,871
Cap Rate 9%
$659,456
Alternative Uses
Best Use
Apartment 5plus
$847.9K
$741.9K – $989.2K
NOI $59,351 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$992.2K
$868.2K – $1.16M
NOI $69,455 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,554
Businesses Nearby
Explore this area
Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Detached home and duplex provide three-bedroom units with public utilities and off-street parking.
Where is this multifamily property located?
The property is located at 438-440 St. John Portland, ME.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Three units, each with a three‑bedroom layout; Detached single‑family home plus duplex on one 0.12‑acre lot; 3,610 square feet of building area
