Classic Triplex with Level
For Sale
$895,000
20 Sawyer Street, Portland, ME 04103
Three-unit multifamily property with original architectural details, independent utilities, and outdoor space for resident use.
Property Size2,705 SF
Price / SF$330.87
Days on Market90
Property Features for 20 Sawyer Street
General Information
Standard status
Active
Size
2,705 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1894
Listing Agency:
Meservier & Associates
(207) 772-4242
Listed By:
Shawn Boulet
Source:
Portsiderealestategroup
Added: Jun 3
Changed: Aug 29
Last Checked: Aug 30 at 6:09PM
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 Meservier & Associates
Investment Insights
Based on property information with market context.
Built in 1894, this three-unit multifamily property contains 2,705 square feet and retains original woodwork, hardwood flooring, and oversized bay windows. Each unit is served by separate utilities, with residents responsible for their own heat and electricity. The property also includes a broad, level backyard that provides private outdoor space for gardening, entertaining, or relaxing.
Located at 20 Sawyer Street in Portland, the building is within walking distance of Baxter Boulevard, Back Cove, and the dining options around Woodfords Corner. The combination of historic character, separated utility service, and usable exterior space supports a practical residential income property configuration.
Located at 20 Sawyer Street in Portland, the building is within walking distance of Baxter Boulevard, Back Cove, and the dining options around Woodfords Corner. The combination of historic character, separated utility service, and usable exterior space supports a practical residential income property configuration.
Key Highlights
- Three‑unit multifamily property with 2,705 SF
- Built in 1894 with original woodwork and hardwood floors
- Oversized bay windows provide natural light
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
$47,801
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
5.34%
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%
$956,020
$956.0K
Cap Rate 7%
$682,871
$682.9K
Cap Rate 9%
$531,122
$531.1K
Market Conditions
NOI Build-Up for 2,705 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
$73.0K $27.00/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$68.3K $25.25/SF
− OpEx
−$20.5K −$7.57/SF
NOI
$47.8K $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%
$956,020
Cap Rate 7%
$682,871
Cap Rate 9%
$531,122
Alternative Uses
Best Use
Multifamily LT 5
$682.9K
$597.5K – $796.7K
NOI $47,801 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$635.3K
$555.9K – $741.2K
NOI $44,472 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$743.5K
$650.5K – $867.4K
NOI $52,043 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,042
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 - Three-unit multifamily property with original architectural details, independent utilities, and outdoor space for resident use.
Where is this triplex located?
The property is located at 20 Sawyer Street Portland, ME.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 2,705 SF; Built in 1894 with original woodwork and hardwood floors; Oversized bay windows provide natural light
