3-Unit Triplex with Water
25 Howard Street, Portland, ME 04101
For Sale
$975,000
Vacant property with varied unit layouts, off-street parking and RN-4 zoning.
Property Size2,215 SF
Price / SF$440.18
Days on Market228
Property Features for 25 Howard Street
General Information
Standard status
Size
Property subtype
Zoning
Property Condition
Severity
Evidence
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
spacious backyard
water glimpses
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Vitalius Real Estate Group, LLC
Listed By:
Briton Vitalius
(207) 541-3755
Source:
Integrityhomesrealestategroup
Added: Apr 1
Changed: Nov 11
Last Checked: Nov 13 at 7:27PM
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 Vitalius Real Estate Group, LLC
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Investment Insights
Based on property information with market context.
This 2,215-square-foot triplex, built in 1900, is offered vacant and has three distinct unit layouts. The third unit spans two floors and includes two bedrooms, water views and porthole-style windows. The second has its living area on the main floor, with bedrooms below grade. The first unit is ready for updates. The property also has a backyard and off-street parking.
At 25 Howard Street in Portland, the property is two blocks from the Eastern Promenade and has glimpses of the water. Zoning is RN-4.
At 25 Howard Street in Portland, the property is two blocks from the Eastern Promenade and has glimpses of the water. Zoning is RN-4.
Key Highlights
- Three‑unit property totaling 2,215 square feet
- Unit 3 is a two‑story, two‑bedroom layout with water views and porthole‑style windows
- Unit 2 has main‑level living space and below‑grade bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,142
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,840
$782.8K
Cap Rate 7%
$559,171
$559.2K
Cap Rate 9%
$434,911
$434.9K
Market Conditions
NOI Build-Up for 2,215 SF
Gross rent
$59.8K $27.00/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$55.9K $25.25/SF
− OpEx
−$16.8K −$7.57/SF
NOI
$39.1K $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%
$782,840
Cap Rate 7%
$559,171
Cap Rate 9%
$434,911
Alternative Uses
Best Use
Multifamily LT 5
$559.2K
$489.3K – $652.4K
NOI $39,142 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$520.2K
$455.2K – $606.9K
NOI $36,416 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$608.8K
$532.7K – $710.3K
NOI $42,616 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,776
Businesses Nearby
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Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Portland, ME
Properties on Market for Triplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Vacant property with varied unit layouts, off-street parking and RN-4 zoning.
Where is this triplex located?
The property is located at 25 Howard Street Portland, ME.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Three‑unit property totaling 2,215 square feet; Unit 3 is a two‑story, two‑bedroom layout with water views and porthole‑style windows; Unit 2 has main‑level living space and below‑grade bedrooms
