3-Unit Multifamily
New
For Sale
$950,000
19-21 Linden Street, Portland, ME 04103
MULTI_FAMILY - Other - Portland, ME
Property Size2,982 SF
Lot Size0.11 Acres
Price / SF$318.58
Days on Market3
Property Features for 19-21 Linden Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Parking features
On Street
Patio and Porch features
Porch
Pets allowed
No
Interior features
Other Amenities
Basement
Sump Pump, Unfinished, Full, Crawl Space, Partial, Finished
Lot features
Level, Intown, Near Shopping, Near Turnpike/ Interstate, Neighborhood
Standard status
Active
Size
2,982 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9875
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Forced Air, Hot Water(Heating)
Water source
Public
Amenities
private laundry
off-street parking
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Wood, Carpet, Vinyl, Linoleum, Tile
Building materials
Wood Frame, Shingle Siding, Wood Siding
Roof type
Shingle, Composition, Flat, Membrane
Architectural style
Other
Additional Structures
Other
Listing Agency:
Portside Real Estate Group
(207) 747-4236
Listed By:
Peter Blake
(207) 400-1450
Added: Aug 12
Last Checked: Aug 14 at 6:06AM
MLS# 1675856
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 3-unit multifamily property occupies a 0.11-acre parcel and contains 2982 square feet. Built in 1900, the wood-frame building features shingle and wood siding, a porch, and a mix of wood, carpet, vinyl, linoleum, and tile flooring. Each residence has private laundry along with separate electricity and natural gas. The property is served by public water and public sewer, with baseboard, forced-air, and hot-water heating components identified.
Located in Portland’s Oakdale neighborhood near Woodford’s Corner, the property places restaurants, shops, cafes, and other neighborhood amenities nearby. Back Cove trails and recreational areas are also close, while I-295 is approximately 0.75 miles away. Portland’s Old Port is approximately 1.5 miles from the property. R-5 zoning applies.
Located in Portland’s Oakdale neighborhood near Woodford’s Corner, the property places restaurants, shops, cafes, and other neighborhood amenities nearby. Back Cove trails and recreational areas are also close, while I-295 is approximately 0.75 miles away. Portland’s Old Port is approximately 1.5 miles from the property. R-5 zoning applies.
Key Highlights
- 3‑unit multifamily property at 19‑21 Linden Street, Portland, ME 04103
- 2982 square feet on a 0.11‑acre parcel
- Each unit includes private laundry
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
$52,696
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
5.55%
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%
$1,053,920
$1.1M
Cap Rate 7%
$752,800
$752.8K
Cap Rate 9%
$585,511
$585.5K
Market Conditions
NOI Build-Up for 2,982 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
$80.5K $27.00/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$75.3K $25.25/SF
− OpEx
−$22.6K −$7.57/SF
NOI
$52.7K $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%
$1,053,920
Cap Rate 7%
$752,800
Cap Rate 9%
$585,511
Alternative Uses
Best Use
Multifamily LT 5
$752.8K
$658.7K – $878.3K
NOI $52,696 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$700.4K
$612.8K – $817.1K
NOI $49,026 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$819.6K
$717.2K – $956.2K
NOI $57,372 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,099
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Private laundry and separate electricity and natural gas serve each residence.
Where is this triplex located?
The property is located at 19-21 Linden Street Portland, ME.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 3‑unit multifamily property at 19‑21 Linden Street, Portland, ME 04103; 2982 square feet on a 0.11‑acre parcel; Each unit includes private laundry
