Duplex with Original Pocket
41 State Street, Biddeford, ME 04005
For Sale
$495,000
Two apartments offer separate living areas, with one unit vacant and the other tenant occupied.
Property Size2,730 SF
Price / SF$181.32
Days on Market163
Property Features for 41 State Street
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Tenancy
Listing Agency:
Century 21 North East
(800) 844-7653
Listed By:
Linda Pratt
(207) 337-0199
Source:
Integrityhomesrealestategroup
Added: Jun 2
Changed: Nov 11
Last Checked: Nov 11 at 2:02AM
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 Century 21 North East
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Investment Insights
Based on property information with market context.
Built in 1889, this 2,730-square-foot duplex contains two apartments totaling five bedrooms and two full bathrooms. The first-floor residence has two bedrooms and one bathroom; the upper unit has three bedrooms and one bathroom. Updates have been made to both units. The first-floor apartment features high ceilings, large windows, and original wood pocket doors. A one-car garage, carport, and storage are also included.
One apartment will be vacant at closing, while the other remains occupied by a tenant. The property is in Biddeford, near downtown restaurants, shops, breweries, and other local amenities. Zoning is MSRD2.
One apartment will be vacant at closing, while the other remains occupied by a tenant. The property is in Biddeford, near downtown restaurants, shops, breweries, and other local amenities. Zoning is MSRD2.
Key Highlights
- Two‑unit property with five bedrooms and two full bathrooms
- 2,730 square feet; built in 1889
- First‑floor unit has two bedrooms, high ceilings, large windows, and original wood pocket doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,190
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,800
$843.8K
Cap Rate 7%
$602,714
$602.7K
Cap Rate 9%
$468,778
$468.8K
Market Conditions
NOI Build-Up for 2,730 SF
Gross rent
$80.9K $29.64/SF
− Vacancy
−$4.2K −$1.54/SF
EGI
$76.7K $28.10/SF
− OpEx
−$34.5K −$12.64/SF
NOI
$42.2K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,800
Cap Rate 7%
$602,714
Cap Rate 9%
$468,778
Alternative Uses
Best Use
Multifamily LT 5
$660.2K
$577.7K – $770.2K
NOI $46,214 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$602.7K
$527.4K – $703.2K
NOI $42,190 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$865.4K
$757.2K – $1.01M
NOI $60,578 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
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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
$351,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in York County, ME
Properties on Market for Duplexes in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer separate living areas, with one unit vacant and the other tenant occupied.
Where is this duplex located?
The property is located at 41 State Street Biddeford, ME.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit property with five bedrooms and two full bathrooms; 2,730 square feet; built in 1889; First‑floor unit has two bedrooms, high ceilings, large windows, and original wood pocket doors
