Building Details

Building Size 5,003 SF

Year Built 1925

Stories 3

Listing Agency: Waypoint Brokers Collective

Listed By: Alessandra Malone Show Phone

Source: Dambriegaron

Added: Aug 11 Changed: Oct 10 Last Checked: Oct 13 at 12:06AM

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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 Waypoint Brokers Collective

Investment Insights

Based on property information with market context.

Built in 1925, this duplex contains 5,003 square feet across three finished levels and includes two separate residences. The first-floor unit has three bedrooms, one and a half baths, a living room, formal dining room, and sunroom. The upper residence spans the second and third floors, with four bedrooms, a living area, formal dining room, updated kitchen, and three sun porches. A fifth bedroom may be finished in the upper unit.

Original trim, built-ins, hardwood floors, and other architectural details remain throughout the property. Major building systems have also been updated. Located at 381 Deering Avenue in Portland’s Oakdale neighborhood, the property offers a two-unit layout with substantial interior space and distinct residential configurations.

Key Highlights

• 5,003 SF duplex built in 1925
• Two residences across three finished levels
• First‑floor unit with 3 bedrooms and 1.5 baths

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$88,411

Cap Rate

6.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,768,220 $1.8M

Cap Rate 7%

$1,263,014 $1.3M

Cap Rate 9%

$982,344 $982.3K

Market Conditions

NOI Build-Up for 5,003 SF

Gross rent

$135.1K $27.00/SF

− Vacancy

−$8.8K −$1.76/SF

EGI

$126.3K $25.25/SF

− OpEx

−$37.9K −$7.57/SF

NOI

$88.4K $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%

$1,768,220

Cap Rate 7%

$1,263,014

Cap Rate 9%

$982,344

Alternative Uses

Best Use

Multifamily LT 5

$1.26M

$1.11M – $1.47M (±1% cap)

NOI $88,411 @ 7.0% cap · market cap 6.55%

Second Best

Apartment 5plus

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,252 @ 7.0% cap · market cap 6.10%

Theoretical Best

Office A

$1.38M

$1.20M – $1.60M (±1% cap)

NOI $96,255 @ 7.0% cap · market cap 7.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Locksmith Electrical Service (Bike/Boat/Book/etc) Store Auto Parts Store Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,302

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Three finished levels contain two separate residences with distinct living, dining, and kitchen areas.

Where is this duplex located?

The property is located at 381 Deering Avenue Portland, ME.

What is the asking price?

The asking price for this property is $1,349,000.

What are key features of this property?

This property features: 5,003 SF duplex built in 1925; Two residences across three finished levels; First‑floor unit with 3 bedrooms and 1.5 baths