Two-Unit Ranch
New
For Sale
$685,000
18-20 Dingley Ct, Portland, ME 04103
A three-bedroom unit and a two-bedroom unit provide flexible residential income space.
Property Size1,864 SF
Price / SF$367.49
Days on Market7
Property Features for 18-20 Dingley Ct
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1969
Construction
ranch
Listed By:
Kathy Gallant
(207) 841-7569
Source:
Gre207
Added: Sep 16
Changed: Sep 21
Last Checked: Sep 21 at 7:04AM
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 Kathy Gallant
Investment Insights
Based on property information with market context.
This 1,864-square-foot duplex, built in 1969, contains two separate residential units. The larger unit has 3 bedrooms, 1 bathroom, a functional layout, and a rear deck. The second unit includes 2 bedrooms, 1 bathroom, and an open living, dining, and kitchen arrangement.
The property is positioned at the end of a dead-end street at 18-20 Dingley Court in Portland, Maine. Both units have been occupied by long-term tenants for many years, providing established rental history. Schools are within walking distance, with Portland amenities located nearby.
The property is positioned at the end of a dead-end street at 18-20 Dingley Court in Portland, Maine. Both units have been occupied by long-term tenants for many years, providing established rental history. Schools are within walking distance, with Portland amenities located nearby.
Key Highlights
- Two‑unit duplex with 1,864 square feet
- Unit mix includes 3 bedrooms/1 bathroom and 2 bedrooms/1 bathroom
- Built in 1969
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
$32,940
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
4.81%
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%
$658,800
$658.8K
Cap Rate 7%
$470,571
$470.6K
Cap Rate 9%
$366,000
$366.0K
Market Conditions
NOI Build-Up for 1,864 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
$50.3K $27.00/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$47.1K $25.25/SF
− OpEx
−$14.1K −$7.57/SF
NOI
$32.9K $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 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%
$658,800
Cap Rate 7%
$470,571
Cap Rate 9%
$366,000
Alternative Uses
Best Use
Multifamily LT 5
$470.6K
$411.8K – $549.0K
NOI $32,940 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$437.8K
$383.1K – $510.8K
NOI $30,645 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$512.3K
$448.3K – $597.7K
NOI $35,863 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
848
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
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Frequently Asked Questions
What type of property is this?
Duplex - A three-bedroom unit and a two-bedroom unit provide flexible residential income space.
Where is this duplex located?
The property is located at 18-20 Dingley Ct Portland, ME.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,864 square feet; Unit mix includes 3 bedrooms/1 bathroom and 2 bedrooms/1 bathroom; Built in 1969
