4-Unit Apartment
For Sale
$589,000
3 Saint Marys St, Biddeford, ME 04005
The property includes four one-bedroom units and a first-floor vacancy for occupancy or leasing.
Property Size1,788 SF
Price / SF$329.42
Days on Market16
Property Features for 3 Saint Marys St
General Information
Standard status
Active
Size
1,788 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1890
Buildings
1
Listed By:
Crown Lakes Realty
(207) 436-8889
Source:
Crownlakesrealty
Added: Sep 30
Changed: Oct 13
Last Checked: Oct 14 at 11:20PM
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 Crown Lakes Realty
Investment Insights
Based on property information with market context.
Built in 1890, this 1,788-square-foot multifamily property contains four one-bedroom units. One first-floor unit is vacant; the remaining units are described as rented, though their occupancy status is not specified. Cosmetic work is needed. Building features include a basement, a natural gas boiler, and separate hot water heaters.
At 3 Saint Marys St in downtown Biddeford, the property has two tandem parking spaces.
At 3 Saint Marys St in downtown Biddeford, the property has two tandem parking spaces.
Key Highlights
- Four one‑bedroom units in a 1,788‑square‑foot building
- First‑floor unit is vacant
- Built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,268
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,360
$605.4K
Cap Rate 7%
$432,400
$432.4K
Cap Rate 9%
$336,311
$336.3K
Market Conditions
NOI Build-Up for 1,788 SF
Gross rent
$45.5K $25.44/SF
− Vacancy
−$2.2K −$1.26/SF
EGI
$43.2K $24.18/SF
− OpEx
−$13.0K −$7.25/SF
NOI
$30.3K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,360
Cap Rate 7%
$432,400
Cap Rate 9%
$336,311
Alternative Uses
Best Use
Multifamily LT 5
$432.4K
$378.4K – $504.5K
NOI $30,268 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$394.7K
$345.4K – $460.5K
NOI $27,632 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$566.8K
$495.9K – $661.3K
NOI $39,675 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
Check the figures for this property
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 - The property includes four one-bedroom units and a first-floor vacancy for occupancy or leasing.
Where is this quadplex located?
The property is located at 3 Saint Marys St Biddeford, ME.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Four one‑bedroom units in a 1,788‑square‑foot building; First‑floor unit is vacant; Built in 1890
