Victorian
For Sale
$399,000
423 Union Street, Bangor, ME 04401
Three distinct residences comprise a primary home and two separate apartments.
Property Size3,000 SF
Price / SF$133
Days on Market11
Property Features for 423 Union Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 3BR/2.5BA, 2 x 1BR/1BA
Multifamily Units
3
Amenities
hardwood floors
tin ceilings
built-in bookshelves
fireplaces
wrap-around porch
kitchen island
Building Details
Year Built
1900
Buildings
1
Construction
Victorian
Listing Agency:
Maine (207-794-6164)
Listed By:
Peter McPhail
(207) 794-4338
Source:
Lifestylepropertiesofmaine
Added: Oct 7
Changed: Oct 16
Last Checked: Oct 16 at 8:37AM
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 Maine (207-794-6164)
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1900, this 3,000-square-foot Victorian property contains three living units. The principal residence has three bedrooms and 2.5 baths, with hardwood floors, tin ceilings, built-in bookshelves, and two fireplaces. Its kitchen has a center island, and a wrap-around porch adds outdoor space. Two additional apartments each offer one bedroom and one bath.
The property at 423 Union St is directly across from Hayford Park and Mansfield Stadium. Area schools are within walking distance.
The property at 423 Union St is directly across from Hayford Park and Mansfield Stadium. Area schools are within walking distance.
Key Highlights
- Three living units in a 3,000‑square‑foot Victorian property
- Built in 1900
- Main residence has 3 bedrooms and 2.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,493
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,860
$549.9K
Cap Rate 7%
$392,757
$392.8K
Cap Rate 9%
$305,478
$305.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$41.4K $13.80/SF
− Vacancy
−$2.1K −$0.71/SF
EGI
$39.3K $13.09/SF
− OpEx
−$11.8K −$3.93/SF
NOI
$27.5K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,860
Cap Rate 7%
$392,757
Cap Rate 9%
$305,478
Alternative Uses
Best Use
Multifamily LT 5
$392.8K
$343.7K – $458.2K
NOI $27,493 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$361.2K
$316.1K – $421.5K
NOI $25,287 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$968.9K
$847.8K – $1.13M
NOI $67,824 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences comprise a primary home and two separate apartments.
Where is this triplex located?
The property is located at 423 Union Street Bangor, ME.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three living units in a 3,000‑square‑foot Victorian property; Built in 1900; Main residence has 3 bedrooms and 2.5 baths
