Two-Unit Victorian
For Sale
$339,000
450 Hammond Street, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size2,661 SF
Lot Size0.36 Acres
Price / SF$127.40
Days on Market9
Property Features for 450 Hammond Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
URD1
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2, Basement
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Shower
Basement
Unfinished, Walk-Out Access, Full
Lot features
Open, Level, Sidewalks, Intown, Near Golf Course, Near Turnpike/ Interstate
Standard status
Active
Size
2,661 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
5759
Utilities
Sewer type
Public Sewer
Heating system
Oil, Steam
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Wood
Building materials
Wood Frame, Aluminum Siding, Vinyl Siding
Roof type
Shingle
Listing Agency:
ERA Dawson-Bradford Co. · ERA Real Estate
(207) 947-6788
Listed By:
Catherine Solari
(207) 735-7324
Added: Sep 28
Last Checked: Oct 6 at 10:06AM
MLS# 1682239
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.
Built in 1880, this 2,661-square-foot duplex contains two apartments and sits on 0.36 acres. The first-floor residence has two bedrooms, one full bath, a kitchen, and washer-and-dryer access; it also includes a ramp, railings, and an accessible bathroom. The upper apartment offers three bedrooms, two full baths, a kitchen, and a private laundry room. Hardwood floors, a double-door entrance, and a prominent staircase are among the interior details. Both units are currently leased to a professional business that manages housing for its clients.
Four parking spaces are shared with the neighboring property. Grocery stores and daily 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. The property is zoned URD1 and served by public water and sewer.
Four parking spaces are shared with the neighboring property. Grocery stores and daily 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. The property is zoned URD1 and served by public water and sewer.
Key Highlights
- 2,661 square feet on a 0.36‑acre lot
- Two apartments: first‑floor unit with 2 bedrooms and 1 full bath; upper unit with 3 bedrooms and 2 full baths
- 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.
Property Analytics
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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 apartments are leased to a professional business 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: 2,661 square feet on a 0.36‑acre lot; Two apartments: first‑floor unit with 2 bedrooms and 1 full bath; upper unit with 3 bedrooms and 2 full baths; Both units are leased to a professional business providing client housing
