Triplex with Deck and
For Sale
$917,500
268 Concord Street W, Portland, ME 04103
Multi-Family, Portland, ME
Property Size3,688 SF
Lot Size0.22 Acres
Price / SF$248.78
Days on Market48
Property Features for 268 Concord Street W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Basement, Bathroom 3, Bathroom 2
Parking features
On Street
Patio and Porch features
Patio, Deck
Pets allowed
No
Fencing
Fenced
Basement
Unfinished, Full
Lot features
Open, Sidewalks, Near Shopping, Neighborhood, Near Public Transit
Standard status
Active
Size
3,688 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10669
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
spacious backyard
Building Details
Year built
1879
Floors in Building
3
Number of units
3
Flooring type
Tile, Wood, Carpet
Building materials
Wood Frame, Vinyl Siding, Wood Siding
Roof type
Shingle
Listing Agency:
Greater Portland Realty
(207) 797-7777
Listed By:
Anthony Galli
(207) 776-1717
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 23 at 5:06PM
MLS# 1669373
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 triplex includes three established units and fully finished space that may support a potential fourth unit, subject to buyer verification of approvals and permitted use with the City. The property has been owner occupied since 2007. Built in 1879, the home features wood-frame construction with vinyl and wood siding, a shingle roof, and a mix of tile, carpet, and wood flooring. Heating is provided by baseboard systems with natural gas. Public water and public sewer services are in place.
Set on a 0.22-acre lot with a total property size of 3,688 square feet, the layout also includes a basement area and three bathrooms. Outdoor space is supported by a deck and patio, along with fencing. Parking is described as on-street, and the property includes a garage.
Situated in the Deering Center/Rosemont neighborhood, the home is within walking distance of the University of New England (UNE), the University of Southern Maine (USM), Rosemont Market, neighborhood shops, restaurants, and everyday amenities. Outdoor access is also highlighted, with easy access to Evergreen Woods and an approximately four-mile network of scenic walking and hiking trails.
Set on a 0.22-acre lot with a total property size of 3,688 square feet, the layout also includes a basement area and three bathrooms. Outdoor space is supported by a deck and patio, along with fencing. Parking is described as on-street, and the property includes a garage.
Situated in the Deering Center/Rosemont neighborhood, the home is within walking distance of the University of New England (UNE), the University of Southern Maine (USM), Rosemont Market, neighborhood shops, restaurants, and everyday amenities. Outdoor access is also highlighted, with easy access to Evergreen Woods and an approximately four-mile network of scenic walking and hiking trails.
Key Highlights
- Zoned RN‑3 triplex with three established units plus finished space for a potential fourth unit
- 0.22‑acre lot and 3,688 square feet
- Owner occupied since 2007
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
$65,172
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
7.10%
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%
$1,303,440
$1.3M
Cap Rate 7%
$931,029
$931.0K
Cap Rate 9%
$724,133
$724.1K
Market Conditions
NOI Build-Up for 3,688 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
$99.6K $27.00/SF
− Vacancy
−$6.5K −$1.76/SF
EGI
$93.1K $25.25/SF
− OpEx
−$27.9K −$7.57/SF
NOI
$65.2K $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%
$1,303,440
Cap Rate 7%
$931,029
Cap Rate 9%
$724,133
Alternative Uses
Best Use
Multifamily LT 5
$931.0K
$814.7K – $1.09M
NOI $65,172 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$866.2K
$757.9K – $1.01M
NOI $60,633 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.01M
$886.9K – $1.18M
NOI $70,955 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
726
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 - Triplex zoned RN-3 with a deck, patio, garage, and three established units, plus finished space for a potential fourth unit.
Where is this triplex located?
The property is located at 268 Concord Street W Portland, ME.
What is the asking price?
The asking price for this property is $917,500.
What are key features of this property?
This property features: Zoned RN‑3 triplex with three established units plus finished space for a potential fourth unit; 0.22‑acre lot and 3,688 square feet; Owner occupied since 2007
