Duplex With Off-Street
For Sale
$269,900
3 Park Street, Orono, ME 04473
Multi-Family, Orono, ME
Property Size1,656 SF
Lot Size0.19 Acres
Price / SF$162.98
Days on Market118
Property Features for 3 Park Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MDR
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Parking features
Off Street
Interior features
1st Floor Bedroom, Shower
Basement
Sump Pump, Full, Unfinished, Walk-Out Access
Lot features
Level, Sidewalks, Intown
Standard status
Active
Size
1,656 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3676
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Oil
Water source
Public
Amenities
basement laundry facilities
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Cape Cod
Listing Agency:
Two Rivers Realty, LLC
(207) 469-9930
Listed By:
Daniel Burpee
(207) 735-5337
Added: Jun 11
Changed: Sep 12
Last Checked: Oct 6 at 2:06PM
MLS# 1662057
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 1,656-square-foot Cape Cod duplex contains two residential units: one with 2 bedrooms and another with 3 bedrooms. The 1920 property has wood-frame construction with vinyl siding, vinyl and carpet flooring, oil-fired forced-air heat, shingle roofing, and basement laundry facilities. Off-street parking serves the property, while public water and public sewer support the building. A first-floor bedroom and two bathrooms are among the interior features.
The 0.19-acre property is located in downtown Orono, with the University of Maine, restaurants, shopping, and other downtown amenities nearby. The building is fully occupied and carries MDR zoning, offering an established two-unit residential configuration in a central community setting.
The 0.19-acre property is located in downtown Orono, with the University of Maine, restaurants, shopping, and other downtown amenities nearby. The building is fully occupied and carries MDR zoning, offering an established two-unit residential configuration in a central community setting.
Key Highlights
- Two‑unit duplex with one 2‑bedroom unit and one 3‑bedroom unit
- 1,656 square feet on a 0.19‑acre lot
- Built in 1920 with Cape Cod architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,176
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,520
$303.5K
Cap Rate 7%
$216,800
$216.8K
Cap Rate 9%
$168,622
$168.6K
Market Conditions
NOI Build-Up for 1,656 SF
Gross rent
$22.9K $13.80/SF
− Vacancy
−$1.2K −$0.71/SF
EGI
$21.7K $13.09/SF
− OpEx
−$6.5K −$3.93/SF
NOI
$15.2K $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%
$303,520
Cap Rate 7%
$216,800
Cap Rate 9%
$168,622
Alternative Uses
Best Use
Multifamily LT 5
$216.8K
$189.7K – $252.9K
NOI $15,176 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$199.4K
$174.5K – $232.6K
NOI $13,958 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$534.8K
$468.0K – $624.0K
NOI $37,439 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 04473, ME
8,070
Population
3,759
Households
2.1
Avg Household Size
28
Median Age
64%
College-Educated
98%
High-School Grad
17.3 sq mi
ZIP Area
466
Density / Sq Mi
$58,893
Median Household Income
$27,016
Median Earnings
$1,146
Median Rent
$217,800
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?
Duplex - Two residential units provide a 2-bedroom layout and a 3-bedroom layout near downtown amenities.
Where is this duplex located?
The property is located at 3 Park Street Orono, ME.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two‑unit duplex with one 2‑bedroom unit and one 3‑bedroom unit; 1,656 square feet on a 0.19‑acre lot; Built in 1920 with Cape Cod architectural style
