4-Unit Colonial
New
For Sale
$429,900
284 French Street, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size2,352 SF
Lot Size0.09 Acres
Price / SF$182.78
Days on Market4
Property Features for 284 French Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
URD-1
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Basement, Bathroom 1, Bathroom 4, Bathroom 3
Parking features
Off Street
Interior features
Attic, Bathtub, Pantry, Shower
Fencing
Fenced
Basement
Unfinished, Full
Lot features
Level, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Neighborhood, Near Public Transit
Standard status
Active
Size
2,352 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4152
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Other (Heating), Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Amenities
coin-operated laundry
Building Details
Year built
1916
Floors in Building
2
Number of units
4
Flooring type
Tile, Vinyl, Carpet, Wood
Building materials
Wood Frame, Shingle Siding, Wood Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Realty of Maine
(207) 942-6310
Listed By:
Kortnie Mullins
(207) 991-4924
Added: Sep 18
Last Checked: Sep 21 at 10:06AM
MLS# 1654425
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.
Built in 1916, this 2,352-square-foot Colonial property contains four one-bedroom apartments on a 0.09-acre parcel. Two units feature mudrooms with custom historical pillars, living rooms with original fireplaces, formal dining rooms, galley kitchens, bedroom bathroom suites, and access to a farmer’s porch. The other two apartments provide mirrored layouts with private decks, larger kitchens, living areas, and bedrooms. A natural gas boiler, coin-operated laundry, fenced grounds, shingle roofing, and wood-frame construction add to the property’s physical profile.
Located at 284 French Street in Bangor, the property is within walking distance of downtown Bangor, John Bapst High School, restaurants, shops, and other local amenities. The property is served by public water and public sewer and is zoned URD-1.
Located at 284 French Street in Bangor, the property is within walking distance of downtown Bangor, John Bapst High School, restaurants, shops, and other local amenities. The property is served by public water and public sewer and is zoned URD-1.
Key Highlights
- Four one‑bedroom apartments in a 2,352‑square‑foot quadplex
- 1916 Colonial architecture with wood‑frame construction and shingle siding
- Two apartments include original fireplaces, formal dining rooms, and farmer’s porch access
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
$21,555
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
5.01%
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%
$431,100
$431.1K
Cap Rate 7%
$307,929
$307.9K
Cap Rate 9%
$239,500
$239.5K
Market Conditions
NOI Build-Up for 2,352 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
$32.5K $13.80/SF
− Vacancy
−$1.7K −$0.71/SF
EGI
$30.8K $13.09/SF
− OpEx
−$9.2K −$3.93/SF
NOI
$21.6K $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 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%
$431,100
Cap Rate 7%
$307,929
Cap Rate 9%
$239,500
Alternative Uses
Best Use
Multifamily LT 5
$307.9K
$269.4K – $359.3K
NOI $21,555 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$283.2K
$247.8K – $330.4K
NOI $19,825 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$759.6K
$664.7K – $886.2K
NOI $53,174 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,122
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments with coin-operated laundry, off-street parking, and public utilities.
Where is this quadplex located?
The property is located at 284 French Street Bangor, ME.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Four one‑bedroom apartments in a 2,352‑square‑foot quadplex; 1916 Colonial architecture with wood‑frame construction and shingle siding; Two apartments include original fireplaces, formal dining rooms, and farmer’s porch access
