3-Unit Triplex with New
For Sale
$565,900
50 Mason Street, Biddeford, ME 04005
MULTI_FAMILY - Colonial - Biddeford, ME
Property Size2,766 SF
Lot Size0.17 Acres
Price / SF$204.59
Days on Market37
Property Features for 50 Mason Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1B
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Basement
Patio and Porch features
Deck
Basement
Walk-Out Access, Full
Lot features
Rolling/ Sloping, Corner Lot, Intown, Near Town
Standard status
Active
Size
2,766 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6167
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Forced Air, Oil, Natural Gas
Water source
Public
Building Details
Year built
1899
Number of units
3
Flooring type
Hardwood, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Greater Portland Realty
(207) 797-7777
Listed By:
Kathy Apon
(207) 671-5496
Added: Jul 7
Changed: Aug 7
Last Checked: Aug 12 at 9:06AM
MLS# 1658490
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.
This 3-unit triplex (3, but property description states three-unit) is fully rented and designed for immediate income with future owner-occupancy flexibility. The unit mix includes a spacious multi-level 3-bedroom, 1.5-bath unit, a 2-bedroom, 1-bath unit, and a 1-bedroom, 1-bath unit. Recent updates include a new roof and a new deck. Construction is wood frame with vinyl siding, and the home features laminate and hardwood flooring. Heating is provided via a combination of oil, hot water, natural gas, and forced air. The property is on public water and served by public sewer.
Set on a 0.17-acre lot with a six-car off-street parking area, the building is located on a quiet dead-end street just minutes from downtown Biddeford, with access to local shops, restaurants, and everyday amenities. Architectural style is Colonial, built in 1899 with a shingle roof.
Rooming includes three bathrooms and basement space, supporting day-to-day functionality for tenants and the option for an owner to occupy one unit.
Set on a 0.17-acre lot with a six-car off-street parking area, the building is located on a quiet dead-end street just minutes from downtown Biddeford, with access to local shops, restaurants, and everyday amenities. Architectural style is Colonial, built in 1899 with a shingle roof.
Rooming includes three bathrooms and basement space, supporting day-to-day functionality for tenants and the option for an owner to occupy one unit.
Key Highlights
- 3‑unit triplex fully rented with unit mix: 3BR/1.5BA, 2BR/1BA, and 1BR/1BA
- New roof and new deck
- 0.17‑acre lot with six‑car off‑street parking
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
$46,824
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
8.27%
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%
$936,480
$936.5K
Cap Rate 7%
$668,914
$668.9K
Cap Rate 9%
$520,267
$520.3K
Market Conditions
NOI Build-Up for 2,766 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
$70.4K $25.44/SF
− Vacancy
−$3.5K −$1.26/SF
EGI
$66.9K $24.18/SF
− OpEx
−$20.1K −$7.25/SF
NOI
$46.8K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$936,480
Cap Rate 7%
$668,914
Cap Rate 9%
$520,267
Alternative Uses
Best Use
Multifamily LT 5
$668.9K
$585.3K – $780.4K
NOI $46,824 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$610.7K
$534.3K – $712.5K
NOI $42,747 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$876.8K
$767.2K – $1.02M
NOI $61,377 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
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?
Triplex - R1B zoned 3-unit triplex with a new roof and deck, fully rented with off-street parking.
Where is this triplex located?
The property is located at 50 Mason Street Biddeford, ME.
What is the asking price?
The asking price for this property is $565,900.
What are key features of this property?
This property features: 3‑unit triplex fully rented with unit mix: 3BR/1.5BA, 2BR/1BA, and 1BR/1BA; New roof and new deck; 0.17‑acre lot with six‑car off‑street parking
