Duplex with Fenced
For Sale
$639,900
139 Skillings St, South Portland, ME 04106
Two apartments feature separate heating systems and access to a private outdoor area.
Property Size2,447 SF
Price / SF$261.50
Days on Market50
Property Features for 139 Skillings St
General Information
Standard status
Active
Size
2,447 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
fully fenced backyard
storage shed
dry concrete basement
spacious stand-up attic
private rear deck
washer/dryer hookups
Building Details
Year Built
1880
Buildings
1
Listing Agency:
(207) 841-7569
Listed By:
Kathy Gallant
(207) 841-7569
Source:
Gre207
Added: Jul 12
Changed: Aug 28
Last Checked: Aug 29 at 9:01AM
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 Kathy Gallant
Investment Insights
Based on property information with market context.
Built in 1880, this 2,447-square-foot duplex contains two distinct apartments. The lower residence has three bedrooms, one bathroom, an eat-in kitchen, living room, rear deck, granite counters, stainless steel appliances, ceramic tile, luxury vinyl plank flooring, and fresh paint. The upper residence includes two bedrooms, one bathroom, an eat-in kitchen, granite counters, hardwood floors, ceramic tile, and direct stairs to the yard.
The property occupies a nearly one-half-acre lot with a fully enclosed backyard, storage shed, and parking for four to six vehicles. A dry concrete basement includes washer and dryer hookups, while the stand-up attic provides additional storage.
Each apartment has its own thermostat and independent domestic hot water and heating equipment. Systems include a two-year-old Viessmann high-efficiency wall-mounted boiler and a wood pellet boiler with a 7,000-pound hopper. The property is minutes from I-295, downtown Portland, area beaches, the Greenbelt Trail, shopping, restaurants, schools, and public transportation.
The property occupies a nearly one-half-acre lot with a fully enclosed backyard, storage shed, and parking for four to six vehicles. A dry concrete basement includes washer and dryer hookups, while the stand-up attic provides additional storage.
Each apartment has its own thermostat and independent domestic hot water and heating equipment. Systems include a two-year-old Viessmann high-efficiency wall-mounted boiler and a wood pellet boiler with a 7,000-pound hopper. The property is minutes from I-295, downtown Portland, area beaches, the Greenbelt Trail, shopping, restaurants, schools, and public transportation.
Key Highlights
- 2,447 SF duplex on a nearly one‑half‑acre lot
- Three‑bedroom first‑floor apartment and two‑bedroom second‑floor apartment
- Fully fenced backyard with direct access from the upper unit
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
$43,242
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
6.76%
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%
$864,840
$864.8K
Cap Rate 7%
$617,743
$617.7K
Cap Rate 9%
$480,467
$480.5K
Market Conditions
NOI Build-Up for 2,447 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
$66.1K $27.00/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$61.8K $25.25/SF
− OpEx
−$18.5K −$7.57/SF
NOI
$43.2K $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%
$864,840
Cap Rate 7%
$617,743
Cap Rate 9%
$480,467
Alternative Uses
Best Use
Multifamily LT 5
$617.7K
$540.5K – $720.7K
NOI $43,242 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$574.7K
$502.9K – $670.5K
NOI $40,230 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$672.6K
$588.5K – $784.7K
NOI $47,079 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
357
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 - Two apartments feature separate heating systems and access to a private outdoor area.
Where is this duplex located?
The property is located at 139 Skillings St South Portland, ME.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 2,447 SF duplex on a nearly one‑half‑acre lot; Three‑bedroom first‑floor apartment and two‑bedroom second‑floor apartment; Fully fenced backyard with direct access from the upper unit
