Victorian
For Sale
$369,900
210 Forest Avenue, Bangor, ME 04401
Two apartments occupy separate floors, each with its own entrance and two bedrooms.
Property Size2,543 SF
Lot Size0.16 Acres
Price / SF$145.46
Days on Market151
Property Features for 210 Forest Avenue
General Information
Standard status
Active
Size
2,543 SF
Lot size
0.16 Acres
Property subtype
Multi Family Home
Zoning
11 URD1
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,664
Building Details
Building Size
2,543 SF
Year Built
1890
Buildings
1
Stories
2
Units
2
Construction
Victorian
Tenancy
Multi
Listing Agency:
ERA Dawson-Bradford Co.
(207) 947-6788
Listed By:
Adrian Nadeau
(207) 947-3363
Source:
Amerorealty
Added: Jun 4
Changed: Oct 31
Last Checked: Oct 31 at 2:16PM
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 ERA Dawson-Bradford Co.
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Investment Insights
Based on property information with market context.
Built in 1890, this 2,543-square-foot Victorian duplex contains two apartments arranged on separate floors, with an independent entrance for each. Both units have two bedrooms, a full bathroom, hardwood floors, original woodwork, and French doors. The first-floor apartment also has an updated kitchen, a fireplace, built-ins, and a laundry hookup. Three electrical boxes serve the property: one for each apartment and a separate house meter.
Improvements include updated electrical service in 1999, a gas furnace installed in 2012, a water heater from 2019, and blown-in insulation added to the second-floor apartment in 2020. Other work includes foundation improvements, replacement windows, an updated bathroom, refinished wood floors, and roof shingle replacement in Spring 2024.
The property occupies a 0.16-acre corner lot in Bangor, with a paved driveway and off-street parking. Its zoning is 11 URD1.
Improvements include updated electrical service in 1999, a gas furnace installed in 2012, a water heater from 2019, and blown-in insulation added to the second-floor apartment in 2020. Other work includes foundation improvements, replacement windows, an updated bathroom, refinished wood floors, and roof shingle replacement in Spring 2024.
The property occupies a 0.16-acre corner lot in Bangor, with a paved driveway and off-street parking. Its zoning is 11 URD1.
Key Highlights
- 2,543‑square‑foot duplex with two apartments, each featuring 2 bedrooms and 1 full bath
- Separate apartment entrances, with one unit on each floor
- 0.16‑acre corner lot with paved driveway and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,305
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,100
$466.1K
Cap Rate 7%
$332,929
$332.9K
Cap Rate 9%
$258,944
$258.9K
Market Conditions
NOI Build-Up for 2,543 SF
Gross rent
$35.1K $13.80/SF
− Vacancy
−$1.8K −$0.71/SF
EGI
$33.3K $13.09/SF
− OpEx
−$10.0K −$3.93/SF
NOI
$23.3K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,100
Cap Rate 7%
$332,929
Cap Rate 9%
$258,944
Alternative Uses
Best Use
Multifamily LT 5
$332.9K
$291.3K – $388.4K
NOI $23,305 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$306.2K
$267.9K – $357.3K
NOI $21,435 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$821.3K
$718.7K – $958.2K
NOI $57,492 @ 7.0% cap · market cap 15.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,505
Businesses Nearby
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Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments occupy separate floors, each with its own entrance and two bedrooms.
Where is this duplex located?
The property is located at 210 Forest Avenue Bangor, ME.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 2,543‑square‑foot duplex with two apartments, each featuring 2 bedrooms and 1 full bath; Separate apartment entrances, with one unit on each floor; 0.16‑acre corner lot with paved driveway and off‑street parking
