Two-Unit Residential Income
For Sale
$785,000
115 Woodford Street, Portland, ME 04103
Well-maintained two-unit building features double-width driveway parking for four cars and shared-level granite kitchens.
Property Size2,840 SF
Price / SF$276.41
Days on Market143
Property Features for 115 Woodford Street
General Information
Standard status
Active
Size
2,840 SF
Total Parking Spaces
4
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1870
Stories
3
Listing Agency:
Legacy Properties Sotheby's International Realty
Listed By:
Mary Jo Cross
(207) 671-4006
Source:
Greatislandrealty
Added: Jun 8
Changed: Oct 27
Last Checked: Oct 26 at 5:14PM
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 Legacy Properties Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Well situated two-unit residential income duplex with a double-width driveway that comfortably parks 4 cars. The property has been very well maintained and was owner-occupied until early this year. Both units include bamboo wood flooring and granite kitchens, and there is a third floor that can serve as a home office or support other possible uses.
The building is very close to the Boulevard and other urban amenities, supporting convenient access to surrounding services.
With its two finished units and additional third-floor flexible space, the property offers a practical owner-occupied setup or income-focused configuration within a maintained multifamily structure.
The building is very close to the Boulevard and other urban amenities, supporting convenient access to surrounding services.
With its two finished units and additional third-floor flexible space, the property offers a practical owner-occupied setup or income-focused configuration within a maintained multifamily structure.
Key Highlights
- 2‑unit building built in 1870, with double‑width driveway that parks 4 cars
- Both units feature bamboo wood flooring
- Each unit includes a granite kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,187
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,740
$1.0M
Cap Rate 7%
$716,957
$717.0K
Cap Rate 9%
$557,633
$557.6K
Market Conditions
NOI Build-Up for 2,840 SF
Gross rent
$76.7K $27.00/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$71.7K $25.25/SF
− OpEx
−$21.5K −$7.57/SF
NOI
$50.2K $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%
$1,003,740
Cap Rate 7%
$716,957
Cap Rate 9%
$557,633
Alternative Uses
Best Use
Multifamily LT 5
$717.0K
$627.3K – $836.5K
NOI $50,187 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$667.0K
$583.6K – $778.2K
NOI $46,691 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$780.6K
$683.0K – $910.7K
NOI $54,640 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
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Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit building features double-width driveway parking for four cars and shared-level granite kitchens.
Where is this duplex located?
The property is located at 115 Woodford Street Portland, ME.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 2‑unit building built in 1870, with double‑width driveway that parks 4 cars; Both units feature bamboo wood flooring; Each unit includes a granite kitchen
