4-Unit
New
For Sale
$589,000
3 Saint Marys Street, Biddeford, ME 04005
Multi-Family, Biddeford, ME
Property Size1,788 SF
Lot Size0.07 Acres
Price / SF$329.42
Days on Market4
Property Features for 3 Saint Marys Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MSRD2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Basement, Bathroom 3
Basement
Full
Lot features
Level, Sidewalks, Intown, Near Shopping, Near Town
Standard status
Active
Size
1,788 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4204
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1890
Number of units
4
Flooring type
Linoleum, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Daniel Weber Nicholas Laverriere
(207) 284-3043
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 2 at 11:06PM
MLS# 1682457
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 1,788-square-foot quadplex contains four one-bedroom units on a 0.07-acre parcel in downtown Biddeford. The wood-frame building, completed in 1890, has vinyl siding, a basement, and two tandem parking spaces. Natural-gas hot-water heat serves the property, with separate water heaters for the units.
The property is at 3 Saint Marys Street and has public water and sewer service. Zoning is MSRD2.
The property is at 3 Saint Marys Street and has public water and sewer service. Zoning is MSRD2.
Key Highlights
- Four 1‑bedroom units in 1,788 square feet
- 0.07‑acre parcel in downtown Biddeford
- Two tandem parking spaces
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
$30,268
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
5.14%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences have natural-gas hot-water heat and individual water heaters.
Where is this quadplex located?
The property is located at 3 Saint Marys Street 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 1‑bedroom units in 1,788 square feet; 0.07‑acre parcel in downtown Biddeford; Two tandem parking spaces
