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    Renovated Duplex with ADU Title is generated by Realmo AI

    152 Prospect Street, Biddeford, ME 04005

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    For Sale
    $540,000

    MULTI_FAMILY - Other - Biddeford, ME

    Property size:
    2,924 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $184/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for 152 Prospect Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bathrooms
    3
    Rooms
    Bathroom 3, Basement, Bathroom 2, Bathroom 1
    Parking features
    Off Street
    Patio and Porch features
    Deck
    Interior features
    In-Law Apartment, 1st Floor Bedroom, Bathtub, One-Floor Living, Storage
    Fencing
    Fenced
    Basement
    Dirt Floor, Full, Unfinished
    Standard status
    Active
    Size
    2,924 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5922

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Heat Pump (Heating), Oil
    Cooling system
    Heat Pump
    Water source
    Public

    Building Details

    Year built
    1880
    Number of units
    2
    Flooring type
    Wood, Tile, Vinyl
    Building materials
    Wood Frame, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Frank Hennings
    Frank Hennings

    Listing agent Frank Hennings

    Listing office Coldwell Banker Realty 163 Fore St Ste B, Saco, ME

    Listing date Jun 4, 2026

    MLS# 1664891 Listing URL

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Historic home built in 1880 featuring in‑law apartment/ADU setup with two units: a 4BD/2BA owner’s home and a 1BD/1BA accessory dwelling unit
    • Owner’s home includes one‑floor living with 1st‑floor bedrooms and direct entry from the driveway plus a slider to the deck
    • ADU is 700 sq ft with separate single off‑street parking space and shares a front entrance with the main house
    • Updated exterior and mechanicals include updated siding and roofing, plus a heat pump and furnace/forced‑air oil heating
    • Two sets of clothes washer/dryer convey and the property has public water and public sewer
    • Fenced yard with deck and an attached barn for storage, work, or play space

    Overview

    This tastefully renovated, historic property has been divided into two rental units within one home structure. The main portion is a 4-bedroom, 2-bath residence with expansive living space, with direct entry from the driveway and a slider leading to a deck. A separate accessory dwelling unit provides a 1-bedroom, 1-bath layout on the second floor and shares a front entrance with the main home while also having its own single parking space. For convenience, two sets of clothes washer/dryer convey with the property. An attached barn adds additional space that can be used for storage, work, or recreation.

    Per town code, renting with an ADU requires the property to be owner-occupied. The property is zoned R2, and it sits on a 0.15-acre lot.

    This configuration can appeal to buyers seeking a traditional two-unit setup while retaining one portion for owner occupancy to comply with the ADU requirement. The updates include newer siding and roofing, plus a heat pump and furnace, supporting a lower-maintenance ownership experience for day-to-day operation. The on-site barn offers practical flexibility for tenant amenities or personal use, depending on how the owner wants to allocate space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Biddeford
    County
    York
    State
    Maine
    Longitude
    -70.463538
    Latitude
    43.482714

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    FAQs

    What type of property is this?
    Duplex - Tastefully renovated two-unit home with an owner-occupied ADU requirement and dedicated parking.
    Where is this duplex located?
    The property is located at 152 Prospect Street Biddeford, ME.
    What is the asking price?
    The asking price for this property is $540,000.
    What are key features of this property?
    This property features: Historic home built in 1880 featuring in‑law apartment/ADU setup with two units: a 4BD/2BA owner’s home and a 1BD/1BA accessory dwelling unit; Owner’s home includes one‑floor living with 1st‑floor bedrooms and direct entry from the driveway plus a slider to the deck; ADU is 700 sq ft with separate single off‑street parking space and shares a front entrance with the main house
    (207) 671-9985
    We can help!
    Listing Contact
    Frank Hennings
    Frank Hennings
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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