Three-Unit Residential Income
101 3rd Street Bangor, ME 04401
For Sale
$345,000
Turnkey three-unit property with three 2-bedroom, 1-bath units and an attached 1-car garage.
Property Size1,860 SF
Price / SF$185.48
Days on Market162
Property Features for 101 3rd Street
General Information
- Standard status
- Active
- Size
- 1,860 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1994
Listing Agency:
RE/MAX Oceanside
(207) 460-6900
Listed By:
Mitchell Domagala · License #BA925915
(207) 460-6900
Source:
Compass
Added: Feb 12
Changed: Jul 22
Last Checked: Jul 23 at 10:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Oceanside
Investment Insights
Based on property information with market context.
This fully rented three-unit residential income property offers three separate 2-bedroom, 1-bath units, along with an attached 1-car garage. Updates include new flooring in units 1 and 2, fresh paint, upgraded fixtures, select new appliances, and a hot-water baseboard boiler installed in 2018.
The property is located at 101 3rd Street in Bangor, near downtown and the waterfront concert venue. Photos were taken within the past two years at various times when the units were vacant, including some after remodels.
Designed for immediate rental occupancy, the building’s recent capital improvements and professionally managed, move-in-ready condition support straightforward ownership with current tenants in place.
The property is located at 101 3rd Street in Bangor, near downtown and the waterfront concert venue. Photos were taken within the past two years at various times when the units were vacant, including some after remodels.
Designed for immediate rental occupancy, the building’s recent capital improvements and professionally managed, move-in-ready condition support straightforward ownership with current tenants in place.
Key Highlights
- 3‑unit property with three 2‑bedroom, 1‑bath units plus an attached 1‑car garage
- Hot‑water baseboard boiler installed in 2018; heating and hot water baseboard heat
- Recent capital improvements include new flooring in units 1 & 2, fresh paint, upgraded fixtures, and select new appliances
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 | $25.7k | $13.80 |
| − Vacancy | −$1.3k | −$0.71 |
| EGI | $24.4k | $13.09 |
| − OpEx | −$7.3k | −$3.93 |
| NOI | $17.0k | $9.16 |
1,860 SF · lease $13.80/SF/yr · vacancy 5.13% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$243.5K
$213.1K – $284.1K
NOI $17,046 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$224.0K
$196.0K – $261.3K
NOI $15,678 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$600.7K
$525.6K – $700.9K
NOI $42,051 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Turnkey three-unit property with three 2-bedroom, 1-bath units and an attached 1-car garage.
Where is this triplex located?
The property is located at 101 3rd Street Bangor, ME.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 3‑unit property with three 2‑bedroom, 1‑bath units plus an attached 1‑car garage; Hot‑water baseboard boiler installed in 2018; heating and hot water baseboard heat; Recent capital improvements include new flooring in units 1 & 2, fresh paint, upgraded fixtures, and select new appliances
