Duplex with Two-Bedroom
For Sale
$799,000
1309 Broadway, South Portland, ME 04106
A separate living space has its own entrance, kitchen, living room, and full bath.
Property Size3,468 SF
Price / SF$230.39
Days on Market14
Property Features for 1309 Broadway
General Information
Standard status
Active
Size
3,468 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
A
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,090
Amenities
fireplace
sunroom
balcony
laundry
finished basement
deck
1st Floor Bedroom
Bathtub
In-Law Floorplan
Storage
Walk-In Closet(s)
Primary Bedroom w/Bath
Building Details
Building Size
3,468 SF
Year Built
1954
Stories
3
Units
2
Construction
Colonial
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Matthew Towle-Whitten
(207) 749-0815
Source:
Hayesrealestate
Added: Oct 14
Changed: Oct 25
Last Checked: Oct 26 at 4:01AM
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 EXP Realty
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Investment Insights
Based on property information with market context.
The South Portland property includes a main home and a separate two-bedroom accessory dwelling unit with a private entrance, kitchen, living room, and full bath. The main residence has hardwood floors, a wood-burning fireplace, a kitchen with granite countertops and a center island, and a formal dining room. Additional features include a heated sunroom, a first-floor bedroom, a primary suite with private bath and balcony, second-floor laundry, and a finished basement. The 3,468-square-foot property was built in 1954.
Exterior features include updated siding, windows, and doors, plus a heated two-car garage, a deck, and parking. The property is at 1309 Broadway in South Portland, near Portland, shopping, restaurants, and major commuting routes. Zoning is A. The separate unit provides a distinct living area; buyers are encouraged to verify potential options.
Exterior features include updated siding, windows, and doors, plus a heated two-car garage, a deck, and parking. The property is at 1309 Broadway in South Portland, near Portland, shopping, restaurants, and major commuting routes. Zoning is A. The separate unit provides a distinct living area; buyers are encouraged to verify potential options.
Key Highlights
- Separate accessory dwelling unit with two bedrooms and a private entrance
- ADU includes its own kitchen, living room, and full bath
- 3,468 square feet; built in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,285
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,225,700
$1.2M
Cap Rate 7%
$875,500
$875.5K
Cap Rate 9%
$680,944
$680.9K
Market Conditions
NOI Build-Up for 3,468 SF
Gross rent
$93.6K $27.00/SF
− Vacancy
−$6.1K −$1.76/SF
EGI
$87.5K $25.25/SF
− OpEx
−$26.3K −$7.57/SF
NOI
$61.3K $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%
$1,225,700
Cap Rate 7%
$875,500
Cap Rate 9%
$680,944
Alternative Uses
Best Use
Multifamily LT 5
$875.5K
$766.1K – $1.02M
NOI $61,285 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$814.5K
$712.7K – $950.3K
NOI $57,016 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$953.2K
$834.0K – $1.11M
NOI $66,723 @ 7.0% cap · market cap 8.35%
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
380
Businesses Nearby
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Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
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 - A separate living space has its own entrance, kitchen, living room, and full bath.
Where is this duplex located?
The property is located at 1309 Broadway South Portland, ME.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Separate accessory dwelling unit with two bedrooms and a private entrance; ADU includes its own kitchen, living room, and full bath; 3,468 square feet; built in 1954
