Side-by-Side
186 Front Street, South Portland, ME 04106
For Sale
$599,000
Each residence spans two levels, with bedrooms and laundry below and shared living spaces above.
Property Size2,270 SF
Price / SF$263.88
Days on Market150
Property Features for 186 Front Street
General Information
Standard status
Size
Property subtype
Zoning
Property Condition
Severity
Evidence
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
laundry
parking
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Marc Gup
(207) 232-6127
Source:
Integrityhomesrealestategroup
Added: Jun 18
Changed: Nov 11
Last Checked: Nov 13 at 10:46PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 2,270-square-foot duplex contains two side-by-side residences, each arranged over two floors. Both units have two bedrooms, laundry, and a full bathroom on the lower level; the upper floor contains a living room, kitchen, dining area, and half bath. One unit is vacant, while the other is occupied by tenants who have been in place for 20 years. The property was built in 1875, has a gas boiler, and includes large closets. Renovation work is needed, and the building has undergone a pre-purchase inspection.
Parking is located behind the building at 186 Front Street in South Portland. Zoning is G.
Parking is located behind the building at 186 Front Street in South Portland. Zoning is G.
Key Highlights
- Two‑unit duplex totaling 2,270 square feet
- Both residences have two bedrooms, laundry, and a full bath on the first floor
- Upper level in each unit includes a living room, kitchen, dining area, and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,114
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$802,280
$802.3K
Cap Rate 7%
$573,057
$573.1K
Cap Rate 9%
$445,711
$445.7K
Market Conditions
NOI Build-Up for 2,270 SF
Gross rent
$61.3K $27.00/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$57.3K $25.25/SF
− OpEx
−$17.2K −$7.57/SF
NOI
$40.1K $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%
$802,280
Cap Rate 7%
$573,057
Cap Rate 9%
$445,711
Alternative Uses
Best Use
Multifamily LT 5
$573.1K
$501.4K – $668.6K
NOI $40,114 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$533.1K
$466.5K – $622.0K
NOI $37,320 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$623.9K
$545.9K – $727.9K
NOI $43,674 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
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Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence spans two levels, with bedrooms and laundry below and shared living spaces above.
Where is this duplex located?
The property is located at 186 Front Street South Portland, ME.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,270 square feet; Both residences have two bedrooms, laundry, and a full bath on the first floor; Upper level in each unit includes a living room, kitchen, dining area, and half bath
