Quadplex Under Construction with
For Sale
$1,195,000
126 Danforth Street, Portland, ME 04101
MULTI_FAMILY - Federal - Portland, ME
Property Size3,849 SF
Lot Size0.11 Acres
Price / SF$310.47
Days on Market29
Property Features for 126 Danforth Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-4
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3
Patio and Porch features
Deck
Interior features
1st Floor Bedroom, Shower
Basement
Walk-Out Access, Full, Finished
Lot features
Level, Sidewalks, Historic District, Intown, Near Shopping, Neighborhood, Near Public Transit
Standard status
Active
Size
3,849 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14008
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Baseboard
Cooling system
Heat Pump
Water source
Public
Amenities
rear decks
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Wood, Tile
Building materials
Masonry, Wood Frame, Brick
Roof type
Shingle
Architectural style
Federal
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Jeffrey Davis · License #901562
(207) 233-9423
Added: Jul 8
Changed: Aug 1
Last Checked: Aug 5 at 11:06PM
MLS# 1656763
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.
Investment Insights
Based on property information with market context.
126 Danforth Street presents a quadplex opportunity to finish four condo-quality units, with the left-hand side of the building at approximately 80% completion and permits already in place. A draft of condominium documents will be available to new owners. The plan includes unique layouts, with three units featuring bonus rooms and bathrooms on the lower level, which can support needs such as home office space or additional bedrooms.
Work completed to date includes new plumbing, electrical, a sprinkler system, windows, exterior pointing, rear decks, rockwool insulation, and drywall, along with room for the new owner to select interior finishes such as flooring, kitchen cabinets, and other detail items. The building is masonry with wood frame and brick components and reflects a Federal architectural style. Year built is 1900.
Utilities are provided by public water and public sewer. Heating is described as heat pump (heating), electric (heating), and baseboard, with heat pump cooling. A paved parking lot with four spaces is included.
Work completed to date includes new plumbing, electrical, a sprinkler system, windows, exterior pointing, rear decks, rockwool insulation, and drywall, along with room for the new owner to select interior finishes such as flooring, kitchen cabinets, and other detail items. The building is masonry with wood frame and brick components and reflects a Federal architectural style. Year built is 1900.
Utilities are provided by public water and public sewer. Heating is described as heat pump (heating), electric (heating), and baseboard, with heat pump cooling. A paved parking lot with four spaces is included.
Key Highlights
- Left‑hand side quadplex at approximately 80% completion with permits in place
- Four condo‑quality units with draft condominium documents available
- Three units include bonus rooms plus bathrooms on the lower level
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 | $103.9k | $27.00 |
| − Vacancy | −$6.8k | −$1.76 |
| EGI | $97.2k | $25.25 |
| − OpEx | −$29.2k | −$7.57 |
| NOI | $68.0k | $17.67 |
3,849 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$971.7K
$850.2K – $1.13M
NOI $68,018 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$904.0K
$791.0K – $1.05M
NOI $63,280 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.06M
$925.7K – $1.23M
NOI $74,053 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
4,494
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex opportunity with permits in place and the project at 80% completion, zoned RN-4 in Portland’s West End.
Where is this quadplex located?
The property is located at 126 Danforth Street Portland, ME.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Left‑hand side quadplex at approximately 80% completion with permits in place; Four condo‑quality units with draft condominium documents available; Three units include bonus rooms plus bathrooms on the lower level
