Victorian
For Sale
$960,000
311 Pine Street, South Portland, ME 04106
Three-level layout offers separate access points for the two fully equipped units.
Property Size2,220 SF
Price / SF$432.43
Days on Market522
Property Features for 311 Pine Street
General Information
Standard status
Active
Size
2,220 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
Res
Taxes and HOA fees
Annual Taxes
$10,068
Amenities
screened porch
hardwood floors
laundry
storage
fenced yard
Building Details
Building Size
2,220 SF
Year Built
1880
Stories
3
Units
2
Construction
Victorian
Listing Agency:
RE/MAX Shoreline
(207) 553-7500
Listed By:
Carolyn Willard
(207) 807-6860
Source:
Patryfamilyrealty
Added: Jun 3, 2025
Changed: Nov 4
Last Checked: Nov 6 at 5:06AM
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 RE/MAX Shoreline
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Investment Insights
Based on property information with market context.
This 2,220-square-foot Victorian duplex, built in 1880, spans three levels and contains 4 bedrooms and 3 full bathrooms. Two separate entrances serve the fully equipped units. Interior details include hardwood floors and decorative moldings, while a screened porch, partially finished basement with laundry and storage, and two-car garage add functional space. The upper level also offers room for expansion.
The property is at 311 Pine Street in South Portland, with seasonal views of Casco Bay from the third floor. Its fenced yard provides outdoor space, and the garage has additional lower-level storage.
The property is at 311 Pine Street in South Portland, with seasonal views of Casco Bay from the third floor. Its fenced yard provides outdoor space, and the garage has additional lower-level storage.
Key Highlights
- 2,220 square feet across three levels
- Two fully equipped units with separate entrances
- 4 bedrooms and 3 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,231
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$784,620
$784.6K
Cap Rate 7%
$560,443
$560.4K
Cap Rate 9%
$435,900
$435.9K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$59.9K $27.00/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$56.0K $25.25/SF
− OpEx
−$16.8K −$7.57/SF
NOI
$39.2K $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 Rate 5%
$784,620
Cap Rate 7%
$560,443
Cap Rate 9%
$435,900
Alternative Uses
Best Use
Multifamily LT 5
$560.4K
$490.4K – $653.9K
NOI $39,231 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$521.4K
$456.2K – $608.3K
NOI $36,498 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$610.2K
$533.9K – $711.9K
NOI $42,712 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
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Business Placement
Demographics for 04106, ME
26,641
Population
12,849
Households
2.1
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
2,184
Density / Sq Mi
$83,744
Median Household Income
$47,818
Median Earnings
$1,642
Median Rent
$403,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cumberland County, ME
Properties on Market for Duplexes in Cumberland County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Three-level layout offers separate access points for the two fully equipped units.
Where is this duplex located?
The property is located at 311 Pine Street South Portland, ME.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 2,220 square feet across three levels; Two fully equipped units with separate entrances; 4 bedrooms and 3 full bathrooms
