Remodeled
New
For Sale
$290,000
175 Center Street, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size1,872 SF
Lot Size0.11 Acres
Price / SF$154.91
Days on Market3
Property Features for 175 Center Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NSD
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Pets allowed
No
Interior features
Attic
Basement
Unfinished, Full
Lot features
Corner Lot, Level, Sidewalks, Intown, Near Shopping, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
1,872 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2636
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Wood, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
CENTURY 21 Queen City Real Estate · Century 21 Real Estate
(207) 942-4618
Listed By:
Estrella Ruiz
(207) 249-6214
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 29 at 12:06AM
MLS# 1678022
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.
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom units within 1,872 square feet. Both residences were remodeled within the past two years and feature a mix of laminate, wood, and vinyl flooring. The building also includes an attic and basement, wood-frame construction with vinyl siding, and zoned forced-air heating fueled by natural gas.
Set on 0.11 acres at 175 Center Street in Bangor, the property is served by public water and public sewer. A shingle roof and private parking are also included. The NSD zoning designation and two-unit configuration support its current residential income use, while the location places the property near schools, shopping, parks, and everyday amenities.
Set on 0.11 acres at 175 Center Street in Bangor, the property is served by public water and public sewer. A shingle roof and private parking are also included. The NSD zoning designation and two-unit configuration support its current residential income use, while the location places the property near schools, shopping, parks, and everyday amenities.
Key Highlights
- Two 2‑bedroom units in a duplex configuration
- 1,872 square feet on a 0.11‑acre lot
- Both units remodeled within the past two years
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
$17,156
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
5.92%
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%
$343,120
$343.1K
Cap Rate 7%
$245,086
$245.1K
Cap Rate 9%
$190,622
$190.6K
Market Conditions
NOI Build-Up for 1,872 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
$25.8K $13.80/SF
− Vacancy
−$1.3K −$0.71/SF
EGI
$24.5K $13.09/SF
− OpEx
−$7.4K −$3.93/SF
NOI
$17.2K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$343,120
Cap Rate 7%
$245,086
Cap Rate 9%
$190,622
Alternative Uses
Best Use
Multifamily LT 5
$245.1K
$214.5K – $285.9K
NOI $17,156 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$225.4K
$197.2K – $263.0K
NOI $15,779 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$604.6K
$529.0K – $705.4K
NOI $42,322 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
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 updated rental units include private parking, public water, and public sewer.
Where is this duplex located?
The property is located at 175 Center Street Bangor, ME.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two 2‑bedroom units in a duplex configuration; 1,872 square feet on a 0.11‑acre lot; Both units remodeled within the past two years
