Ranch Duplex with
New
For Sale
$685,000
18-20 Dingley Court, Portland, ME 04103
Multi-Family, Portland, ME
Property Size1,864 SF
Lot Size0.25 Acres
Price / SF$367.49
Days on Market2
Property Features for 18-20 Dingley Court
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Residential
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Parking features
Off Street
Patio and Porch features
Deck
Interior features
1st Floor Bedroom
Fencing
Fenced
Basement
Full, Unfinished
Lot features
Open, Level, Near Shopping, Near Town, Near Public Transit
Standard status
Active
Size
1,864 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7498
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating), Baseboard
Water source
Public
Amenities
back deck
Building Details
Year built
1969
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Signature Homes Real Estate Group, LLC
(207) 805-1062
Listed By:
Matthew Lamontagne Gena Lamontagne
(207) 749-0433
Added: Sep 15
Last Checked: Sep 16 at 3:06AM
MLS# 1680640
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 1,864-square-foot duplex was built in 1969 with a ranch-style layout and two residential units. The first unit includes three bedrooms, one bathroom, a functional floor plan, and a large back deck. The second offers two bedrooms, one bathroom, and an open-concept living, dining, and kitchen area. Both units have 1st-floor bedrooms, while the property also includes a basement, vinyl and carpet flooring, oil-fired hot-water baseboard heat, and a shingle roof.
Located at 18-20 Dingley Court in Portland, the property sits at the end of a dead-end street on a 0.25-acre lot. Schools are within walking distance, and the site is near Portland amenities. Additional features include off-street parking, fencing, public water, and public sewer. Both units have been occupied by long-standing tenants for many years, providing established rental history.
Located at 18-20 Dingley Court in Portland, the property sits at the end of a dead-end street on a 0.25-acre lot. Schools are within walking distance, and the site is near Portland amenities. Additional features include off-street parking, fencing, public water, and public sewer. Both units have been occupied by long-standing tenants for many years, providing established rental history.
Key Highlights
- Two‑unit duplex with 1,864 square feet on a 0.25‑acre lot
- First unit includes 3 bedrooms, 1 bathroom, and a large back deck
- Second unit features 2 bedrooms, 1 bathroom, and open‑concept living space
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
100%
Occupancy
Multi-tenant
Tenancy
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences provide separate layouts, including a three-bedroom unit and an open-concept two-bedroom unit.
Where is this duplex located?
The property is located at 18-20 Dingley Court 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 on a 0.25‑acre lot; First unit includes 3 bedrooms, 1 bathroom, and a large back deck; Second unit features 2 bedrooms, 1 bathroom, and open‑concept living space
