Two-Unit Residential Income
75 Carleton Street Portland, ME 04102
For Sale
$990,000
MULTI_FAMILY - Other - Portland, ME
Property Size2,634 SF
Lot Size0.05 Acres
Price / SF$375.85
Days on Market18
Property Features for 75 Carleton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-4
Bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Basement, Bathroom 4
Parking features
Off Street
Patio and Porch features
Deck
Interior features
1st Floor Bedroom, Bathtub, Shower
Fencing
Fenced
Basement
Unfinished, Full
Standard status
Active
Size
2,634 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11197
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Hot Water(Heating), Zoned
Water source
Public
Building Details
Year built
1874
Number of units
2
Flooring type
Carpet, Wood, Tile
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Maine Real Estate Co
(207) 292-1030
Listed By:
Karen Edgcombe
(207) 523-0198
Added: Jul 12
Changed: Jul 28
Last Checked: Jul 29 at 5:06AM
MLS# 1663851
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.
Two-unit residential income property built in 1874, currently operating as an Airbnb. The primary residence features four bedrooms plus an office and three full bathrooms across three floors, with cathedral ceilings, exposed wood beams, skylights, and a custom kitchen. Interior details include a custom antique bar and wainscoting along the main staircase with a preserved original banister. A private deck with low-maintenance composite decking and a full basement for storage support the home’s day-to-day functionality. The first-floor bedroom is currently used as a home studio/office and has its own full bathroom.
The secondary unit is an oversized one-bedroom, one-bath layout with single-level living on the first floor. The property also includes a private courtyard and space for a city garden, along with off-street parking. Zoned RN-4 and located in Portland’s West End near restaurants, shops, hospitals, and the waterfront, this two-unit setup offers flexible living and income arrangements for an owner-occupant or investor.
The secondary unit is an oversized one-bedroom, one-bath layout with single-level living on the first floor. The property also includes a private courtyard and space for a city garden, along with off-street parking. Zoned RN-4 and located in Portland’s West End near restaurants, shops, hospitals, and the waterfront, this two-unit setup offers flexible living and income arrangements for an owner-occupant or investor.
Key Highlights
- Built in 1874 with 2,634 SF across a two‑unit setup in Portland’s West End
- Currently operated as an Airbnb with a secondary oversized 1‑bedroom, 1‑bath unit
- Main home features 4 bedrooms plus an office and 3 full bathrooms across three floors
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 | $71.1k | $27.00 |
| − Vacancy | −$4.6k | −$1.76 |
| EGI | $66.5k | $25.25 |
| − OpEx | −$19.9k | −$7.57 |
| NOI | $46.5k | $17.67 |
2,634 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$665.0K
$581.8K – $775.8K
NOI $46,547 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$618.6K
$541.3K – $721.8K
NOI $43,305 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$724.0K
$633.5K – $844.6K
NOI $50,677 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Short term rental property - Two-unit property built in 1874, currently operating as an Airbnb with private outdoor space and off-street parking.
Where is this short term rental property located?
The property is located at 75 Carleton Street Portland, ME.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Built in 1874 with 2,634 SF across a two‑unit setup in Portland’s West End; Currently operated as an Airbnb with a secondary oversized 1‑bedroom, 1‑bath unit; Main home features 4 bedrooms plus an office and 3 full bathrooms across three floors
