Two-Unit Corner
For Sale
$645,000
1747 Forest Ave, Portland, ME 04103
Residential duplex with off-street parking and a two-bedroom, one-bath layout in each unit.
Property Size1,840 SF
Price / SF$350.54
Days on Market81
Property Features for 1747 Forest Ave
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
Listed By:
Mark Moody
(207) 491-4540
Source:
Scottandsunny
Added: Jul 29
Changed: Oct 16
Last Checked: Oct 7 at 3:49PM
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 Better Homes & Gardens Real Estate/The Masiello Group
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Investment Insights
Based on property information with market context.
Built in 1920, this 1,840-square-foot duplex at 1747 Forest Ave. contains two residential units, each configured with two bedrooms and one bathroom. The property occupies a corner lot and includes off-street parking.
The building also includes third-floor space that may offer expansion potential, subject to town approval. Its two-unit configuration provides separate residential accommodations within a single property.
The building also includes third-floor space that may offer expansion potential, subject to town approval. Its two-unit configuration provides separate residential accommodations within a single property.
Key Highlights
- Two‑unit duplex totaling 1,840 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Corner lot at 1747 Forest Ave.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,516
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,320
$650.3K
Cap Rate 7%
$464,514
$464.5K
Cap Rate 9%
$361,289
$361.3K
Market Conditions
NOI Build-Up for 1,840 SF
Gross rent
$49.7K $27.00/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$46.5K $25.25/SF
− OpEx
−$13.9K −$7.57/SF
NOI
$32.5K $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 Rate 5%
$650,320
Cap Rate 7%
$464,514
Cap Rate 9%
$361,289
Alternative Uses
Best Use
Multifamily LT 5
$464.5K
$406.5K – $541.9K
NOI $32,516 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$432.2K
$378.1K – $504.2K
NOI $30,251 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$505.7K
$442.5K – $590.0K
NOI $35,401 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Residential duplex with off-street parking and a two-bedroom, one-bath layout in each unit.
Where is this duplex located?
The property is located at 1747 Forest Ave Portland, ME.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,840 square feet; Each unit includes 2 bedrooms and 1 bathroom; Corner lot at 1747 Forest Ave.
