Renovated Two-Unit
For Sale
$629,000
134-136 Sawyer Street, South Portland, ME 04106
Recently updated property with private driveways, a fenced yard, and walkable access to the Greenbelt Trail.
Property Size2,323 SF
Price / SF$270.77
Days on Market268
Property Features for 134-136 Sawyer Street
General Information
Standard status
Active
Size
2,323 SF
Property subtype
Multi-Family
Zoning
VR
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,167
Amenities
Wall Unit(s)
Heat Pump, Direct Vent Furnace, Baseboard
2
Interior, Walk-Out Access, Bulkhead, Brick/Mortar, Other, Partial
Other, Carpet
Yes
Bathtub
Block, Stone, Granite, Concrete Perimeter
2.00
Shingle
Shed(s)
Vinyl Siding, Wood Frame
Building Details
Year Built
1830
Buildings
1
Units
2
Listing Agency:
Pine Tree Realty of Maine
(207) 650-3750
Listed By:
Todd Harvey
(207) 650-3750
Source:
Compass
Added: Dec 6, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:53AM
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 Pine Tree Realty of Maine
Investment Insights
Based on property information with market context.
Built in 1830 and recently renovated, this 2,323-square-foot duplex contains two residential units, each with a private driveway and a practical multi-level layout. The floor plans include three upstairs bedrooms, a kitchen, dining room, living room, and bonus room on the main level. A fenced backyard and storage shed add useful outdoor space, while interior features include heat pumps, direct vent furnaces, baseboard heat, and walk-out access.
The property is located in South Portland’s historic Ferry Village neighborhood, between Willard Beach and Knightville. The Greenbelt Trail is nearby, with walking access to the ocean and local businesses. Portland dining, marinas, lighthouses, and other South Portland amenities are within a short drive. Zoning is VR, and the two-unit configuration supports either owner occupancy or an income-producing residential use.
The property is located in South Portland’s historic Ferry Village neighborhood, between Willard Beach and Knightville. The Greenbelt Trail is nearby, with walking access to the ocean and local businesses. Portland dining, marinas, lighthouses, and other South Portland amenities are within a short drive. Zoning is VR, and the two-unit configuration supports either owner occupancy or an income-producing residential use.
Key Highlights
- 2,323‑square‑foot duplex with 2 residential units
- Built in 1830 and recently renovated
- Each unit has its own private driveway
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,051
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$821,020
$821.0K
Cap Rate 7%
$586,443
$586.4K
Cap Rate 9%
$456,122
$456.1K
Market Conditions
NOI Build-Up for 2,323 SF
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.
Gross rent
$62.7K $27.00/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$58.6K $25.25/SF
− OpEx
−$17.6K −$7.57/SF
NOI
$41.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$821,020
Cap Rate 7%
$586,443
Cap Rate 9%
$456,122
Alternative Uses
Best Use
Multifamily LT 5
$586.4K
$513.1K – $684.2K
NOI $41,051 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$545.6K
$477.4K – $636.5K
NOI $38,192 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$638.5K
$558.7K – $744.9K
NOI $44,693 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Recently updated property with private driveways, a fenced yard, and walkable access to the Greenbelt Trail.
Where is this duplex located?
The property is located at 134-136 Sawyer Street South Portland, ME.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 2,323‑square‑foot duplex with 2 residential units; Built in 1830 and recently renovated; Each unit has its own private driveway
