Renovated Two-Unit
For Sale
$950,000
83 Capisic Street, Portland, ME 04102
MULTI_FAMILY - Portland, ME
Property Size2,432 SF
Lot Size0.48 Acres
Price / SF$390.63
Days on Market41
Property Features for 83 Capisic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Interior features
Attic, Bathtub, Shower, Storage
Basement
Full, Unfinished, Walk-Out Access
Lot features
Open, Level, Near Shopping, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
2,432 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7031
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Forced Air, Oil
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Flooring type
Wood, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Landmark Realty
(207) 807-7889
Listed By:
Edward Dickhaut IV
(207) 749-0524
Added: Jul 13
Changed: Aug 7
Last Checked: Aug 22 at 7:06PM
MLS# 1671222
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 83 Capisic Street, this duplex contains two townhome-style residences within 2,432 square feet. Each unit includes 3 bedrooms, 1.5 bathrooms, open living areas, a kitchen, storage, and access to a basement. The interiors feature updated cabinetry, countertops, fixtures, tile, and refinished wood flooring. Building improvements include heat pumps, plumbing, electrical service, insulation, windows, siding, trim, a shingle roof, and a new driveway.
The property occupies 0.48 acres and provides a substantial yard for outdoor use, gardening, or recreation. Public water and public sewer serve the property, which is zoned R3. The duplex is located in Portland near downtown, restaurants, shopping, schools, parks, and commuter routes. It is not subject to Portland's rent control ordinance, according to the provided property information.
The property occupies 0.48 acres and provides a substantial yard for outdoor use, gardening, or recreation. Public water and public sewer serve the property, which is zoned R3. The duplex is located in Portland near downtown, restaurants, shopping, schools, parks, and commuter routes. It is not subject to Portland's rent control ordinance, according to the provided property information.
Key Highlights
- Two‑unit duplex with 2,432 square feet
- Each residence offers 3 bedrooms and 1.5 bathrooms
- Situated on an oversized 0.48‑acre lot with a large yard
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
$42,977
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
4.52%
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%
$859,540
$859.5K
Cap Rate 7%
$613,957
$614.0K
Cap Rate 9%
$477,522
$477.5K
Market Conditions
NOI Build-Up for 2,432 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
$65.7K $27.00/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$61.4K $25.25/SF
− OpEx
−$18.4K −$7.57/SF
NOI
$43.0K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /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%
$859,540
Cap Rate 7%
$613,957
Cap Rate 9%
$477,522
Alternative Uses
Best Use
Multifamily LT 5
$614.0K
$537.2K – $716.3K
NOI $42,977 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$571.2K
$499.8K – $666.4K
NOI $39,984 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$668.4K
$584.9K – $779.9K
NOI $46,791 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,008
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?
Duplex - Updated townhome-style units offer three bedrooms, modern kitchens, and refreshed building systems in Portland.
Where is this duplex located?
The property is located at 83 Capisic Street Portland, ME.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,432 square feet; Each residence offers 3 bedrooms and 1.5 bathrooms; Situated on an oversized 0.48‑acre lot with a large yard
