4-Unit Quadplex with Mixed Unit
For Sale
$385,000
131 Second St, Bangor, ME 04401
Residential income property with varied floor plans and four separate units near downtown Bangor.
Property Size2,056 SF
Price / SF$187.26
Days on Market63
Property Features for 131 Second St
General Information
Standard status
Active
Size
2,056 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 1BR, 1 x 3BR
Multifamily Units
4
Building Details
Year Built
1900
Listing Agency:
ERA Dawson-Bradford Co.
Listed By:
Shonne Wright
(207) 649-2072
Source:
Lawanaandcompany
Added: Aug 16
Changed: Oct 2
Last Checked: Oct 7 at 5:43PM
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 ERA Dawson-Bradford Co.
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Investment Insights
Based on property information with market context.
This quadplex contains four residential units arranged as three one-bedroom residences and one three-bedroom residence. The property has a stated size of 2056 and dates to 1900, providing a multi-unit configuration with a mix of smaller and larger floor plans.
The building is located at 131 Second Street in Bangor, Maine, directly across from Second Street park. Downtown Bangor is nearby, placing the property within the city setting and close to downtown amenities.
The building is located at 131 Second Street in Bangor, Maine, directly across from Second Street park. Downtown Bangor is nearby, placing the property within the city setting and close to downtown amenities.
Key Highlights
- Four‑unit quadplex with three one‑bedroom units and one three‑bedroom unit
- Property size: 2056
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,842
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,840
$376.8K
Cap Rate 7%
$269,171
$269.2K
Cap Rate 9%
$209,356
$209.4K
Market Conditions
NOI Build-Up for 2,056 SF
Gross rent
$28.4K $13.80/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$26.9K $13.09/SF
− OpEx
−$8.1K −$3.93/SF
NOI
$18.8K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,840
Cap Rate 7%
$269,171
Cap Rate 9%
$209,356
Alternative Uses
Best Use
Multifamily LT 5
$269.2K
$235.5K – $314.0K
NOI $18,842 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$247.6K
$216.6K – $288.8K
NOI $17,330 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$664.0K
$581.0K – $774.7K
NOI $46,482 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,378
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
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?
Quadplex - Residential income property with varied floor plans and four separate units near downtown Bangor.
Where is this quadplex located?
The property is located at 131 Second St Bangor, ME.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Four‑unit quadplex with three one‑bedroom units and one three‑bedroom unit; Property size: 2056; Built in 1900
