Duplex with Updated Building
New
For Sale
$521,000
177 South St, Biddeford, ME 04005
Two residential units feature replacement water and sewer lines, upgraded electrical service, and a newer roof.
Property Size2,402 SF
Price / SF$216.90
Days on Market2
Property Features for 177 South St
General Information
Standard status
Active
Size
2,402 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1880
Listing Agency:
Coldwell Banker Realty
Listed By:
Christian Steppe · License #BR922819
(207) 286-4721
Source:
Soldbymichaelthomas
Added: Sep 26
Last Checked: Sep 26 at 3:24PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2,402-square-foot duplex, built in 1880, contains two residential units. Improvements include Harvey windows, a Buderus boiler, upgraded electrical wiring and panels, a newer roof, and replacement water and sewer lines. The property also includes a large side yard.
Downtown Biddeford dining and Rotary Park’s freshwater beach are within walking distance. Biddeford Pool is a short drive away, with Amtrak and public transit nearby. Portland and Portsmouth are among the regional destinations accessible by car.
Downtown Biddeford dining and Rotary Park’s freshwater beach are within walking distance. Biddeford Pool is a short drive away, with Amtrak and public transit nearby. Portland and Portsmouth are among the regional destinations accessible by car.
Key Highlights
- Two‑unit duplex with 2,402 square feet
- Built in 1880
- Harvey windows and a Buderus boiler
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
$40,662
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
7.80%
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%
$813,240
$813.2K
Cap Rate 7%
$580,886
$580.9K
Cap Rate 9%
$451,800
$451.8K
Market Conditions
NOI Build-Up for 2,402 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
$61.1K $25.44/SF
− Vacancy
−$3.0K −$1.26/SF
EGI
$58.1K $24.18/SF
− OpEx
−$17.4K −$7.25/SF
NOI
$40.7K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$813,240
Cap Rate 7%
$580,886
Cap Rate 9%
$451,800
Alternative Uses
Best Use
Multifamily LT 5
$580.9K
$508.3K – $677.7K
NOI $40,662 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$530.3K
$464.0K – $618.7K
NOI $37,121 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$761.4K
$666.3K – $888.3K
NOI $53,300 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature replacement water and sewer lines, upgraded electrical service, and a newer roof.
Where is this duplex located?
The property is located at 177 South St Biddeford, ME.
What is the asking price?
The asking price for this property is $521,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,402 square feet; Built in 1880; Harvey windows and a Buderus boiler
