Residential Income
44 Pleasant Avenue Portland, ME 04103
For Sale
$700,000
Rented residential income property with spacious floor plans and a yard, featuring one lease on a month-to-month basis.
Property Size2,442 SF
Price / SF$286.65
Days on Market439
Property Features for 44 Pleasant Avenue
General Information
- Standard status
- Active
- Size
- 2,442 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing Agency:
The Maine Real Estate Network
(207) 318-0660
Listed By:
Curtis Bates Janice Pompeo
(207) 318-0660
Source:
Compass
Added: May 12, 2025
Changed: Jul 21
Last Checked: Jul 23 at 8:36AM
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 The Maine Real Estate Network
Investment Insights
Based on property information with market context.
This residential income property at 44 Pleasant Avenue, Portland, ME 04103 is currently fully rented. One lease became month-to-month in June, and the other lease is set to expire in February 2026. The home offers spacious floor plans and includes a yard.
For showings, the property is being scheduled with open houses planned to accommodate interested parties while avoiding disruptions to tenant schedules.
Current occupancy and the differing lease timelines can provide continuity while allowing a defined point for potential leasing adjustments in the near term.
For showings, the property is being scheduled with open houses planned to accommodate interested parties while avoiding disruptions to tenant schedules.
Current occupancy and the differing lease timelines can provide continuity while allowing a defined point for potential leasing adjustments in the near term.
Key Highlights
- Rented residential income property with one lease on a month‑to‑month basis
- Other lease is up on 2/26
- 2‑bedroom/1st‑floor bedroom and 2 full bathrooms; includes bathtub and shower
Financial Insights For Apartment 5plus
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 | $77.7k | $31.80 |
| − Vacancy | −$4.7k | −$1.91 |
| EGI | $73.0k | $29.89 |
| − OpEx | −$32.8k | −$13.45 |
| NOI | $40.1k | $16.44 |
2,442 SF · lease $31.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$573.5K
$501.9K – $669.1K
NOI $40,148 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$671.2K
$587.3K – $783.1K
NOI $46,983 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Rented residential income property with spacious floor plans and a yard, featuring one lease on a month-to-month basis.
Where is this multifamily property located?
The property is located at 44 Pleasant Avenue Portland, ME.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Rented residential income property with one lease on a month‑to‑month basis; Other lease is up on 2/26; 2‑bedroom/1st‑floor bedroom and 2 full bathrooms; includes bathtub and shower
