Duplex with Finished Bonus
36 Coolidge Avenue, Portland, ME 04103
For Sale
$479,000
RN1-zoned residential property with two units and additional finished area in a converted garage.
Property Size1,413 SF
Price / SF$338
Days on Market128
Property Features for 36 Coolidge Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Highway Access
Road Access
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Portside Real Estate Group
(207) 619-7571
Listed By:
Julie Rosenthal
(207) 329-5521
Source:
Integrityhomesrealestategroup
Added: Jul 7
Changed: Nov 8
Last Checked: Nov 10 at 4:54PM
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 Portside Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1889, this duplex contains two units and totals 1,413 square feet. A converted garage provides finished bonus space that is not included in the stated square footage. The property is zoned RN1 and is located in North Deering, Portland.
The home sits at the end of an undeveloped, tree-lined street. Northgate, the Maine Turnpike, and other Portland amenities are described as a short drive away.
The home sits at the end of an undeveloped, tree-lined street. Northgate, the Maine Turnpike, and other Portland amenities are described as a short drive away.
Key Highlights
- Two‑unit duplex with 1,413 square feet
- Finished bonus area in converted garage, excluded from stated square footage
- RN1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,970
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,400
$499.4K
Cap Rate 7%
$356,714
$356.7K
Cap Rate 9%
$277,444
$277.4K
Market Conditions
NOI Build-Up for 1,413 SF
Gross rent
$38.2K $27.00/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$35.7K $25.25/SF
− OpEx
−$10.7K −$7.57/SF
NOI
$25.0K $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%
$499,400
Cap Rate 7%
$356,714
Cap Rate 9%
$277,444
Alternative Uses
Best Use
Multifamily LT 5
$356.7K
$312.1K – $416.2K
NOI $24,970 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$331.9K
$290.4K – $387.2K
NOI $23,231 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$388.4K
$339.8K – $453.1K
NOI $27,185 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Portland, ME
Properties on Market for Duplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - RN1-zoned residential property with two units and additional finished area in a converted garage.
Where is this duplex located?
The property is located at 36 Coolidge Avenue Portland, ME.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,413 square feet; Finished bonus area in converted garage, excluded from stated square footage; RN1 zoning
