Duplex with Private Outdoor
New
For Sale
$830,000
106 Sherman Street, Portland, ME 04101
Multi-Family, Portland, ME
Property Size2,535 SF
Lot Size0.04 Acres
Price / SF$327.42
Days on Market3
Property Features for 106 Sherman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Basement
Parking features
On Street
Patio and Porch features
Deck
Basement
Unfinished, Full, Walk-Out Access
Lot features
Level, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate
Standard status
Active
Size
2,535 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8339
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating), Natural Gas, Baseboard
Water source
Public
Amenities
private garden oasis
private rooftop deck
Building Details
Year built
1899
Floors in Building
3
Number of units
2
Flooring type
Wood, Tile
Building materials
Wood Frame, Asbestos
Roof type
Shingle
Architectural style
Victorian
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Kevin Fletcher · License #BA903663
(207) 754-9311
Added: Oct 15
Last Checked: Oct 17 at 3:06AM
MLS# 1679536
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.
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Investment Insights
Based on property information with market context.
This 2,535-square-foot Victorian duplex in Portland’s Parkside neighborhood contains two residences on a 0.04-acre lot. The first-floor apartment has two bedrooms and a private garden. Above, a three-bedroom townhouse occupies the second and third floors, with its own rooftop deck overlooking Back Bay. The building dates to 1899 and is zoned R6.
Deering Oaks Park, Maine Medical Center, Back Cove trails, local bakeries, and restaurants are nearby. Public water and sewer serve the property, and parking is on the street.
Deering Oaks Park, Maine Medical Center, Back Cove trails, local bakeries, and restaurants are nearby. Public water and sewer serve the property, and parking is on the street.
Key Highlights
- Two‑unit duplex with a two‑bedroom first‑floor apartment and a three‑bedroom, two‑level townhouse
- 2,535 square feet on a 0.04‑acre lot
- Private garden for the lower residence and rooftop deck with Back Bay views for the upper unit
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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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,904
Businesses Nearby
Explore this area
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 - The two residences pair a garden and rooftop deck with distinct layouts, including an upper-level townhouse spanning two floors.
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 a two‑bedroom first‑floor apartment and a three‑bedroom, two‑level townhouse; 2,535 square feet on a 0.04‑acre lot; Private garden for the lower residence and rooftop deck with Back Bay views for the upper unit
