Duplex with Private Outdoor
For Sale
$830,000
106 Sherman Street, Portland, ME 04101
Two-unit property with a private garden, rooftop deck, and distinct outdoor areas for each residence.
Property Size2,535 SF
Price / SF$327.42
Days on Market54
Property Features for 106 Sherman Street
General Information
Standard status
Active
Size
2,535 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Amenities
private garden
private rooftop deck
Building Details
Year Built
1899
Listing Agency:
Keller Williams Realty
Listed By:
Kevin Fletcher · License #BA903663
(207) 754-9311
Source:
Portsiderealestategroup
Added: Sep 5
Changed: Oct 25
Last Checked: Oct 26 at 4:50PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 2,535-square-foot duplex, built in 1899, contains two distinct residences. The first-floor apartment offers two bedrooms and direct access to a private garden. Above, a three-bedroom townhouse occupies the second and third floors, providing a two-level layout and its own rooftop deck with views toward Back Bay. Each unit has dedicated outdoor space, a feature that adds meaningful separation between the residences.
The property is located at 106 Sherman St in Portland’s Parkside neighborhood. Deering Oaks Park, local bakeries, dining establishments, and the Back Cove trails are described as being nearby, with a walkable setting connecting the property to these destinations.
The property is located at 106 Sherman St in Portland’s Parkside neighborhood. Deering Oaks Park, local bakeries, dining establishments, and the Back Cove trails are described as being nearby, with a walkable setting connecting the property to these destinations.
Key Highlights
- Two‑unit duplex with 2,535 square feet of property size
- First‑floor unit includes 2 bedrooms and a private garden
- Upper residence is a 3‑bedroom, 2‑level townhouse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,797
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$895,940
$895.9K
Cap Rate 7%
$639,957
$640.0K
Cap Rate 9%
$497,744
$497.7K
Market Conditions
NOI Build-Up for 2,535 SF
Gross rent
$68.4K $27.00/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$64.0K $25.25/SF
− OpEx
−$19.2K −$7.57/SF
NOI
$44.8K $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 Rate 5%
$895,940
Cap Rate 7%
$639,957
Cap Rate 9%
$497,744
Alternative Uses
Best Use
Multifamily LT 5
$640.0K
$560.0K – $746.6K
NOI $44,797 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$595.4K
$521.0K – $694.6K
NOI $41,677 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$696.7K
$609.7K – $812.9K
NOI $48,772 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,904
Businesses Nearby
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Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a private garden, rooftop deck, and distinct outdoor areas for each residence.
Where is this duplex located?
The property is located at 106 Sherman Street Portland, ME.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,535 square feet of property size; First‑floor unit includes 2 bedrooms and a private garden; Upper residence is a 3‑bedroom, 2‑level townhouse
