Three-Unit Triplex with
New
For Sale
$1,100,000
44 Warren Avenue, Cape Elizabeth, ME 04107
Multi-Family, Cape Elizabeth, ME
Property Size3,072 SF
Lot Size0.10 Acres
Price / SF$358.07
Days on Market6
Property Features for 44 Warren Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Basement, Bathroom 4, Bathroom 1
Parking features
Off Street
Pets allowed
No
Basement
Unfinished, Full, Walk-Out Access
Lot features
Near Country Club, Well Landscaped, Near Public Beach, Near Shopping, Neighborhood
Standard status
Active
Size
3,072 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9751
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Electric (Heating), Forced Air, Propane (Heating), Baseboard
Water source
Public
Amenities
private porch
hardwood floors
newer appliances
basement storage
laundry
blue stone hardscaping
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
Carpet, Linoleum, Tile, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Town & Shore Real Estate
(207) 773-0262
Listed By:
Jeffrey Davis · License #901562
(207) 233-9423
Added: Oct 1
Changed: Oct 5
Last Checked: Oct 6 at 6:06PM
MLS# 1682710
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 3,072-square-foot triplex, built in 1920, contains three residences. The first-floor unit has three bedrooms, two bathrooms, hardwood flooring, newer appliances, and a private porch. Two updated one-bedroom apartments are located upstairs; one also has a private porch. A basement provides laundry and storage, and the property includes a small attached garage and three separate parking areas.
Set on a 0.1-acre lot in Cape Elizabeth, the property is within walking distance of Cliff House Beach and near Fort Williams and South Portland. Zoning is RC.
Set on a 0.1-acre lot in Cape Elizabeth, the property is within walking distance of Cliff House Beach and near Fort Williams and South Portland. Zoning is RC.
Key Highlights
- Three residences: one three‑bedroom, two‑bath unit and two one‑bedroom apartments
- 3,072 square feet on a 0.1‑acre lot
- First‑floor residence includes hardwood floors, newer appliances, and a private porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,287
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,085,740
$1.1M
Cap Rate 7%
$775,529
$775.5K
Cap Rate 9%
$603,189
$603.2K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$82.9K $27.00/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$77.6K $25.25/SF
− OpEx
−$23.3K −$7.57/SF
NOI
$54.3K $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%
$1,085,740
Cap Rate 7%
$775,529
Cap Rate 9%
$603,189
Alternative Uses
Best Use
Multifamily LT 5
$775.5K
$678.6K – $904.8K
NOI $54,287 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$721.5K
$631.3K – $841.8K
NOI $50,506 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$844.3K
$738.8K – $985.1K
NOI $59,104 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
Demographics for 04107, ME
9,575
Population
4,007
Households
2.4
Avg Household Size
49
Median Age
77%
College-Educated
99%
High-School Grad
14.9 sq mi
ZIP Area
643
Density / Sq Mi
$145,464
Median Household Income
$69,964
Median Earnings
$2,191
Median Rent
$659,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - A three-bedroom, two-bath residence occupies the first floor, with two one-bedroom apartments above.
Where is this triplex located?
The property is located at 44 Warren Avenue Cape Elizabeth, ME.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three residences: one three‑bedroom, two‑bath unit and two one‑bedroom apartments; 3,072 square feet on a 0.1‑acre lot; First‑floor residence includes hardwood floors, newer appliances, and a private porch
