4-Unit Multifamily
For Sale
$545,000
15 Morse Court, Brunswick, ME 04011
Four residential units are located near downtown Brunswick, with GR6 zoning.
Property Size1,980 SF
Price / SF$275.25
Days on Market131
Property Features for 15 Morse Court
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi Family Home
Zoning
GR6
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,759
Building Details
Building Size
1,980 SF
Year Built
1900
Units
4
Listing Agency:
Portside Real Estate Group
(207) 607-5965
Listed By:
Brenton Sawyer
(207) 756-5135
Source:
Amerorealty
Added: Jun 24
Changed: Oct 31
Last Checked: Oct 31 at 2:33PM
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 Portside Real Estate Group
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Investment Insights
Based on property information with market context.
The 1900 multifamily property at 15 Morse Court contains four units across 1,980 square feet of living space. GR6 zoning is identified for the property.
The Brunswick address is near downtown, with local shops, restaurants, parks, and commuter routes described as accessible from the property.
The Brunswick address is near downtown, with local shops, restaurants, parks, and commuter routes described as accessible from the property.
Key Highlights
- Four‑unit multifamily property
- 1,980 square feet of living space
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,552
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$651,040
$651.0K
Cap Rate 7%
$465,029
$465.0K
Cap Rate 9%
$361,689
$361.7K
Market Conditions
NOI Build-Up for 1,980 SF
Gross rent
$63.0K $31.80/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$59.2K $29.89/SF
− OpEx
−$26.6K −$13.45/SF
NOI
$32.6K $16.44/SF
Area
Cumberland County, ME
Vacancy
6.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$651,040
Cap Rate 7%
$465,029
Cap Rate 9%
$361,689
Alternative Uses
Best Use
Apartment 5plus
$465.0K
$406.9K – $542.5K
NOI $32,552 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$544.2K
$476.2K – $634.9K
NOI $38,094 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,098
Businesses Nearby
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Business Placement
Demographics for 04011, ME
21,756
Population
9,440
Households
2.3
Avg Household Size
44
Median Age
52%
College-Educated
96%
High-School Grad
46.8 sq mi
ZIP Area
465
Density / Sq Mi
$74,102
Median Household Income
$40,075
Median Earnings
$1,341
Median Rent
$343,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four residential units are located near downtown Brunswick, with GR6 zoning.
Where is this multifamily property located?
The property is located at 15 Morse Court Brunswick, ME.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 1,980 square feet of living space; Built in 1900
