5-Unit Apartment
103 Walter Street, Bangor, ME 04401
For Sale
$450,000
Off-street parking serves the five-unit property, with access to I-395 and I-95.
Property Size2,938 SF
Price / SF$153.17
Days on Market174
Property Features for 103 Walter Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Ansley Moore
(207) 745-4490
Source:
Integrityhomesrealestategroup
Added: May 22
Changed: Nov 11
Last Checked: Nov 11 at 2:15AM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,938-square-foot apartment property contains five units and dates to 1900. Fresh paint and off-street parking are among its documented features. The property is zoned 11 URD1.
At 103 Walter Street in Bangor, the building has access to downtown, Main Street, I-395, and I-95.
At 103 Walter Street in Bangor, the building has access to downtown, Main Street, I-395, and I-95.
Key Highlights
- Five‑unit apartment property
- 2,938 square feet
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,764
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,280
$495.3K
Cap Rate 7%
$353,771
$353.8K
Cap Rate 9%
$275,156
$275.2K
Market Conditions
NOI Build-Up for 2,938 SF
Gross rent
$47.6K $16.20/SF
− Vacancy
−$2.6K −$0.87/SF
EGI
$45.0K $15.33/SF
− OpEx
−$20.3K −$6.90/SF
NOI
$24.8K $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 Rate 5%
$495,280
Cap Rate 7%
$353,771
Cap Rate 9%
$275,156
Alternative Uses
Best Use
Apartment 5plus
$353.8K
$309.6K – $412.7K
NOI $24,764 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$948.9K
$830.3K – $1.11M
NOI $66,422 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,378
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
$229,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Bangor, ME
Properties on Market for Apartment buildings in Bangor
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Off-street parking serves the five-unit property, with access to I-395 and I-95.
Where is this apartment building located?
The property is located at 103 Walter Street Bangor, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Five‑unit apartment property; 2,938 square feet; Off‑street parking
