Owner-Occupied Two-Unit
155 Hartley Street Portland, ME 04103
For Sale
$950,000
Updated systems support two bright residential units, with up to three bedrooms in each unit.
Property Size2,080 SF
Price / SF$456.73
Days on Market9
Property Features for 155 Hartley Street
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
RE/MAX Shoreline
Listed By:
Thomas Ranello
(603) 433-3350
Source:
Greatislandrealty
Added: Jul 21
Changed: Jul 26
Last Checked: Jul 27 at 9:06PM
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 RE/MAX Shoreline
Investment Insights
Based on property information with market context.
This owner-occupied two-unit duplex offers a light, bright, and sunny layout designed for comfortable residential living. The property features updated systems and provides flexibility with as many as three bedrooms in each unit.
Located in the Deering Center area, the building is described as close to boutique shops and fresh produce, with convenient access to locally sourced food options. The property is also characterized as walkable to schools and within a short walk to nearby wooded areas and athletic fields.
With two separate residential units on one site, this property may appeal to buyers seeking a manageable multifamily setup with meaningful bedroom flexibility across both units.
Located in the Deering Center area, the building is described as close to boutique shops and fresh produce, with convenient access to locally sourced food options. The property is also characterized as walkable to schools and within a short walk to nearby wooded areas and athletic fields.
With two separate residential units on one site, this property may appeal to buyers seeking a manageable multifamily setup with meaningful bedroom flexibility across both units.
Key Highlights
- Two‑unit owner‑occupied property with updated systems
- Year built 1900
- Up to 3 bedrooms in each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.2k | $27.00 |
| − Vacancy | −$3.7k | −$1.76 |
| EGI | $52.5k | $25.25 |
| − OpEx | −$15.8k | −$7.57 |
| NOI | $36.8k | $17.67 |
2,080 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$525.1K
$459.5K – $612.6K
NOI $36,757 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$488.5K
$427.5K – $569.9K
NOI $34,196 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$571.7K
$500.2K – $667.0K
NOI $40,018 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Updated systems support two bright residential units, with up to three bedrooms in each unit.
Where is this duplex located?
The property is located at 155 Hartley Street Portland, ME.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑unit owner‑occupied property with updated systems; Year built 1900; Up to 3 bedrooms in each unit
