Updated-Systems
New
For Sale
$521,000
177 South Street, Biddeford, ME 04005
Multi-Family, Biddeford, ME
Property Size2,402 SF
Lot Size0.33 Acres
Price / SF$216.90
Days on Market2
Property Features for 177 South Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1B
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Off Street, On Street
Patio and Porch features
Porch
Basement
Crawl Space, Dirt Floor, Partial, Unfinished, Sump Pump
Lot features
Other Site, Near Country Club, Open, Near Golf Course, Near Public Beach, Near Turnpike/ Interstate, Near Town, Suburban
Standard status
Active
Size
2,402 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5184
Utilities
Sewer type
Public Sewer
Heating system
Oil, Baseboard, Zoned, Hot Water(Heating)
Water source
Public
Building Details
Year built
1880
Number of units
2
Flooring type
Linoleum, Carpet, Vinyl
Building materials
Wood Frame, Aluminum Siding, Wood Siding
Roof type
Shingle
Architectural style
Colonial
Additional Structures
Outbuilding
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 282-5988
Listed By:
Christian Steppe · License #BR922819
(207) 286-4721
Added: Sep 25
Last Checked: Sep 26 at 10:06AM
MLS# 1681989
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 Colonial duplex contains two units within a 2,402-square-foot building. Improvements include Harvey windows, a Buderus boiler, updated electrical wiring and panels, a newer shingle roof, and replacement water and sewer lines. The property also has a porch, off-street and on-street parking, and public water and sewer service. The 0.33-acre parcel includes a side yard, and zoning is R1B.
The property is in Biddeford, within walking distance of downtown dining and Rotary Park’s freshwater beach. Biddeford Pool is a short drive away, with Amtrak and public transit nearby. Portland and Portsmouth are also identified as commute destinations.
The property is in Biddeford, within walking distance of downtown dining and Rotary Park’s freshwater beach. Biddeford Pool is a short drive away, with Amtrak and public transit nearby. Portland and Portsmouth are also identified as commute destinations.
Key Highlights
- Two‑unit duplex with 2,402 square feet
- 0.33‑acre parcel zoned R1B
- Updated Harvey windows, Buderus boiler, electrical wiring and panels, roof, and water and sewer lines
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
$40,662
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
7.80%
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%
$813,240
$813.2K
Cap Rate 7%
$580,886
$580.9K
Cap Rate 9%
$451,800
$451.8K
Market Conditions
NOI Build-Up for 2,402 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
$61.1K $25.44/SF
− Vacancy
−$3.0K −$1.26/SF
EGI
$58.1K $24.18/SF
− OpEx
−$17.4K −$7.25/SF
NOI
$40.7K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /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%
$813,240
Cap Rate 7%
$580,886
Cap Rate 9%
$451,800
Alternative Uses
Best Use
Multifamily LT 5
$580.9K
$508.3K – $677.7K
NOI $40,662 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$530.3K
$464.0K – $618.7K
NOI $37,121 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$761.4K
$666.3K – $888.3K
NOI $53,300 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 residential units feature refreshed building systems, public water and sewer, and a side yard on a sizable parcel.
Where is this duplex located?
The property is located at 177 South Street Biddeford, ME.
What is the asking price?
The asking price for this property is $521,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,402 square feet; 0.33‑acre parcel zoned R1B; Updated Harvey windows, Buderus boiler, electrical wiring and panels, roof, and water and sewer lines
