Two-Unit Victorian
For Sale
$339,000
450 Hammond Street, Bangor, ME 04401
Both residences are leased to a professional operator providing housing for its clients.
Property Size2,661 SF
Price / SF$127.40
Days on Market32
Property Features for 450 Hammond Street
General Information
Standard status
Active
Size
2,661 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
laundry
Building Details
Year Built
1880
Construction
Victorian
Tenancy
Single
Listing Agency:
ERA Dawson-Bradford Co.
Listed By:
Catherine Solari
(207) 735-7324
Source:
Profoundrealestate
Added: Sep 14
Changed: Oct 13
Last Checked: Oct 14 at 11:19PM
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 ERA Dawson-Bradford Co.
Investment Insights
Based on property information with market context.
This 2,661-square-foot, two-unit property dates to 1880. The first-floor residence has two bedrooms, one full bath, a kitchen, laundry access, and an accessibility ramp, railings, and bathroom. Upstairs, the second residence includes three bedrooms, two full baths, a kitchen, and a separate laundry room. Interior details include a double-door entrance, an ornamental staircase, and hardwood flooring in several rooms.
Both units are leased to a professional business that arranges housing for its clients. Four parking spaces are shared with the neighboring property. Grocery stores and everyday services are nearby, with downtown Bangor’s restaurants and shops also in the area. I-95, Bangor International Airport, and Northern Light Eastern Maine Medical Center are a few miles away.
Both units are leased to a professional business that arranges housing for its clients. Four parking spaces are shared with the neighboring property. Grocery stores and everyday services are nearby, with downtown Bangor’s restaurants and shops also in the area. I-95, Bangor International Airport, and Northern Light Eastern Maine Medical Center are a few miles away.
Key Highlights
- Two‑unit layout: first floor has 2 bedrooms and 1 full bath; second floor has 3 bedrooms and 2 full baths
- 2,661 square feet; built in 1880
- Both units are leased to a professional business providing client housing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,387
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,740
$487.7K
Cap Rate 7%
$348,386
$348.4K
Cap Rate 9%
$270,967
$271.0K
Market Conditions
NOI Build-Up for 2,661 SF
Gross rent
$36.7K $13.80/SF
− Vacancy
−$1.9K −$0.71/SF
EGI
$34.8K $13.09/SF
− OpEx
−$10.5K −$3.93/SF
NOI
$24.4K $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%
$487,740
Cap Rate 7%
$348,386
Cap Rate 9%
$270,967
Alternative Uses
Best Use
Multifamily LT 5
$348.4K
$304.8K – $406.5K
NOI $24,387 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$320.4K
$280.4K – $373.8K
NOI $22,429 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$859.4K
$752.0K – $1.00M
NOI $60,160 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
586
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
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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?
Duplex - Both residences are leased to a professional operator providing housing for its clients.
Where is this duplex located?
The property is located at 450 Hammond Street Bangor, ME.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two‑unit layout: first floor has 2 bedrooms and 1 full bath; second floor has 3 bedrooms and 2 full baths; 2,661 square feet; built in 1880; Both units are leased to a professional business providing client housing
