Victorian-Style Two-Unit
New
For Sale
$549,900
178 North Gorham Road, Gorham, ME 04038
Two separate residences include individual kitchens, laundry rooms, and distinct living spaces.
Property Size2,448 SF
Lot Size4.50 Acres
Price / SF$224.63
Days on Market4
Property Features for 178 North Gorham Road
General Information
Standard status
Active
Size
2,448 SF
Total Parking Spaces
2
Lot size
4.50 Acres
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
front porch
rear deck
laundry room
Building Details
Year Built
1900
Construction
Victorian-style
Listing Agency:
PO-GO REALTY
Listed By:
Peter Mason
(207) 632-8822
Source:
Profoundrealestate
Added: Oct 12
Changed: Oct 13
Last Checked: Oct 14 at 11:12PM
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 PO-GO REALTY
Investment Insights
Based on property information with market context.
Built in 1900, this Victorian-style duplex contains 2,448 square feet across two residences on 4.5 acres. The first-floor unit has a kitchen adjoining the dining area, a living room, two bedrooms, and one full bath. The second- and third-floor residence includes a kitchen with a breakfast nook, a living room, three bedrooms, and two full baths. Each unit has a laundry room. A front porch, rear deck, and oversized two-car garage/barn with walk-up storage add to the property’s existing features. The home needs work.
Nason Brook crosses the property, which also includes a pond with a small waterfall. North Windham shopping, restaurants, and everyday services are minutes away; Portland is within commuting distance. The property is also near the University of Southern Maine and Saint Joseph’s College.
Nason Brook crosses the property, which also includes a pond with a small waterfall. North Windham shopping, restaurants, and everyday services are minutes away; Portland is within commuting distance. The property is also near the University of Southern Maine and Saint Joseph’s College.
Key Highlights
- Two‑unit Victorian‑style property with 2,448 square feet
- Set on 4.5 acres with Nason Brook and a pond with a small waterfall
- First‑floor unit has 2 bedrooms and 1 full bath; upper residence has 3 bedrooms and 2 full baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,260
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$865,200
$865.2K
Cap Rate 7%
$618,000
$618.0K
Cap Rate 9%
$480,667
$480.7K
Market Conditions
NOI Build-Up for 2,448 SF
Gross rent
$66.1K $27.00/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$61.8K $25.25/SF
− OpEx
−$18.5K −$7.57/SF
NOI
$43.3K $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%
$865,200
Cap Rate 7%
$618,000
Cap Rate 9%
$480,667
Alternative Uses
Best Use
Multifamily LT 5
$618.0K
$540.8K – $721.0K
NOI $43,260 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$575.0K
$503.1K – $670.8K
NOI $40,247 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$672.8K
$588.7K – $785.0K
NOI $47,098 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 04038, ME
18,336
Population
6,527
Households
2.8
Avg Household Size
39
Median Age
46%
College-Educated
97%
High-School Grad
50.6 sq mi
ZIP Area
362
Density / Sq Mi
$110,181
Median Household Income
$53,122
Median Earnings
$1,567
Median Rent
$426,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences include individual kitchens, laundry rooms, and distinct living spaces.
Where is this duplex located?
The property is located at 178 North Gorham Road Gorham, ME.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit Victorian‑style property with 2,448 square feet; Set on 4.5 acres with Nason Brook and a pond with a small waterfall; First‑floor unit has 2 bedrooms and 1 full bath; upper residence has 3 bedrooms and 2 full baths
