Two-Unit Colonial
For Sale
$234,900
101 Second Street, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size2,416 SF
Lot Size0.14 Acres
Price / SF$97.23
Days on Market22
Property Features for 101 Second Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
14 Urban Res Dist 2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Parking features
Off Street
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Bathtub, Storage
Basement
Full, Unfinished
Lot features
Level, Sidewalks, Interior Lot, Intown, Near Golf Course, Near Shopping, Neighborhood, Near Public Transit
Standard status
Active
Size
2,416 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2800
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1900
Number of units
2
Flooring type
Hardwood, Vinyl, Laminate
Building materials
Wood Frame, Clapboard
Roof type
Metal
Architectural style
Colonial
Additional Structures
Storage
Listing Agency:
ERA Dawson-Bradford Co. · ERA Real Estate
(207) 947-6788
Listed By:
Marianna Reeves
(207) 299-6363
Added: Aug 11
Changed: Aug 19
Last Checked: Sep 1 at 3:06AM
MLS# 1675685
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 Colonial-style duplex contains 2,416 square feet across two residential units. The first-floor apartment has four bedrooms, while the 888-square-foot upper unit includes two bedrooms and one bath. A rear efficiency area provides additional interior space, subject to City approval for any conversion or incorporation into the existing apartment. Interior features include hardwood, vinyl, and laminate flooring, along with storage and a first-floor bedroom. Heating is provided by natural-gas hot-water baseboard systems, with wall-unit cooling.
The 0.14-acre property includes a porch, off-street parking, public water, and public sewer. A former two-car garage has been removed, leaving additional outdoor area. The property is located across from a neighborhood park and the future site of the YMCA, currently slated to open in late 2027. Shaw's Supermarket, the Bangor Waterfront, its walking trail, restaurants, shopping, downtown businesses, and entertainment are identified as walkable nearby amenities. Exterior improvements include replacement of some windows.
The 0.14-acre property includes a porch, off-street parking, public water, and public sewer. A former two-car garage has been removed, leaving additional outdoor area. The property is located across from a neighborhood park and the future site of the YMCA, currently slated to open in late 2027. Shaw's Supermarket, the Bangor Waterfront, its walking trail, restaurants, shopping, downtown businesses, and entertainment are identified as walkable nearby amenities. Exterior improvements include replacement of some windows.
Key Highlights
- 2,416 square feet of living space in a two‑unit property
- 0.14‑acre lot with off‑street parking, porch, public water, and public sewer
- First‑floor unit offers four bedrooms
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
$20,364
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
8.67%
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%
$407,280
$407.3K
Cap Rate 7%
$290,914
$290.9K
Cap Rate 9%
$226,267
$226.3K
Market Conditions
NOI Build-Up for 2,416 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
$39.1K $16.20/SF
− Vacancy
−$2.1K −$0.87/SF
EGI
$37.0K $15.33/SF
− OpEx
−$16.7K −$6.90/SF
NOI
$20.4K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$407,280
Cap Rate 7%
$290,914
Cap Rate 9%
$226,267
Alternative Uses
Best Use
Multifamily LT 5
$316.3K
$276.8K – $369.0K
NOI $22,141 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$290.9K
$254.6K – $339.4K
NOI $20,364 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$780.3K
$682.8K – $910.4K
NOI $54,621 @ 7.0% cap · market cap 23.25%
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
1,807
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
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Frequently Asked Questions
What type of property is this?
Duplex - Colonial duplex with separate apartments, off-street parking, porch space, and a rear efficiency area on the upper level.
Where is this duplex located?
The property is located at 101 Second Street Bangor, ME.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 2,416 square feet of living space in a two‑unit property; 0.14‑acre lot with off‑street parking, porch, public water, and public sewer; First‑floor unit offers four bedrooms
