Historic Greek Revival
New
For Sale
$750,000
40 Main Street, Limerick, ME 04048
MULTI_FAMILY - Greek Revival - Limerick, ME
Property Size3,770 SF
Lot Size1.20 Acres
Price / SF$198.94
Days on Market4
Property Features for 40 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B
Bathrooms
11
Full bathrooms
11
Rooms
Bathroom 2, Bathroom 6, Basement, Bathroom 4, Bathroom 7, Bathroom 10, Bathroom 8, Bathroom 9, Bathroom 3, Bathroom 5, Bathroom 11, Bathroom 1
Parking features
Off Street
Patio and Porch features
Deck, Porch
Interior features
In-Law Apartment, 1st Floor Bedroom, Bathtub, One-Floor Living, Pantry, Primary Bedroom w/Bath
Basement
Full, Walk-Out Access, Unfinished
Accessibility
Accessible Approach with Ramp
Lot features
Level, Sidewalks, Intown
Standard status
Active
Size
3,770 SF
Lot size
1.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6418
Utilities
Sewer type
Public Sewer
Heating system
Oil, Zoned, Propane (Heating), Kerosene, Forced Air, Wood
Cooling system
Heat Pump, Window Unit(s)
Water source
Public, Well
Amenities
chicken and duck coop
Building Details
Year built
1859
Floors in Building
3
Number of units
4
Flooring type
Wood, Vinyl, Carpet
Building materials
Masonry, Wood Frame, Brick, Clapboard
Roof type
Shingle, Slate, Metal
Architectural style
Greek Revival
Listing Agency:
Portside Real Estate Group
(207) 536-4222
Listed By:
Alexcia Smith
(207) 227-6959
Added: Aug 2
Last Checked: Aug 5 at 3:06PM
MLS# 1674467
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 historic Greek Revival quadplex combines a main residence and a carriage house configured for rental income. The property includes a 10-bedroom, 7-bath main home and a carriage house that has been converted into three rental units, offering multiple revenue streams and flexible long-term use options.
Set on a 1.2-acre lot with mature landscaping and outdoor space, the property includes a deck and porch, plus an accessible approach with a ramp. Utilities include public water and well water, along with public sewer. Construction features masonry, wood frame, brick, and clapboard elements, with a roof system that includes shingle, slate, and metal.
Additional property details include off-street parking and a mix of interior features such as an in-law apartment, in addition to multiple bathrooms throughout the residence.
Set on a 1.2-acre lot with mature landscaping and outdoor space, the property includes a deck and porch, plus an accessible approach with a ramp. Utilities include public water and well water, along with public sewer. Construction features masonry, wood frame, brick, and clapboard elements, with a roof system that includes shingle, slate, and metal.
Additional property details include off-street parking and a mix of interior features such as an in-law apartment, in addition to multiple bathrooms throughout the residence.
Key Highlights
- 10‑bedroom, 7‑bath main residence paired with a carriage house converted into three rental units
- 1.2‑acre lot with deck and porch plus an accessible approach with ramp
- Off‑street parking and multiple bathrooms throughout the main residence
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $95.9k | $25.44 |
| − Vacancy | −$4.7k | −$1.26 |
| EGI | $91.2k | $24.18 |
| − OpEx | −$27.4k | −$7.25 |
| NOI | $63.8k | $16.93 |
3,770 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$911.7K
$797.8K – $1.06M
NOI $63,820 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$832.3K
$728.3K – $971.1K
NOI $58,263 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.20M
$1.05M – $1.39M
NOI $83,655 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 04048, ME
3,188
Population
1,565
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
94%
High-School Grad
27.1 sq mi
ZIP Area
118
Density / Sq Mi
$90,125
Median Household Income
$45,791
Median Earnings
$1,153
Median Rent
$264,200
Median Home Value
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 - Greek Revival quadplex with a 10-bedroom main residence plus a carriage house converted into three rental units.
Where is this quadplex located?
The property is located at 40 Main Street Limerick, ME.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 10‑bedroom, 7‑bath main residence paired with a carriage house converted into three rental units; 1.2‑acre lot with deck and porch plus an accessible approach with ramp; Off‑street parking and multiple bathrooms throughout the main residence
