Building Details

Year Built 1803

Construction farmhouse-style

Listed By: Doug Schauf · License #BA917314 Show Phone

Source: Makemaineyourhome

Added: Aug 23 Changed: Oct 5 Last Checked: Oct 16 at 8:52AM

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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 Doug Schauf

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Investment Insights

Based on property information with market context.

Built in 1803, this farmhouse-style triplex combines a substantial main residence with two furnished apartment spaces. The primary house includes five to seven bedrooms, two full bathrooms, built-in cabinetry and bookcases, an open area for dining or gathering, and a wood-burning stove. A one-bedroom living space is attached to the main house, while a second one-bedroom, one-bath apartment occupies the level above. Multiple decks, a shared backyard, and covered storage areas extend the usable space.

The one-acre property is located at 473 / 475 Union St in Bangor, across from Beth Pancoe pool, Mansfield Stadium, Sawyer Arena, and Hayford Park. The Thomas Hill Standpipe and historic homes near Stephen King’s Bangor estate are also within walking distance. Bangor International Airport, downtown restaurants, waterfront concerts, and the Cross Center are minutes away.

Key Highlights

• Triplex configuration with a five‑to‑seven‑bedroom main house and two one‑bedroom apartments
• 3,096‑square‑foot property on one acre
• Main residence includes two full bathrooms and a wood‑burning stove

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,373

Cap Rate

5.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$567,460 $567.5K

Cap Rate 7%

$405,329 $405.3K

Cap Rate 9%

$315,256 $315.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,096 SF

Gross rent

$42.7K $13.80/SF

− Vacancy

−$2.2K −$0.71/SF

EGI

$40.5K $13.09/SF

− OpEx

−$12.2K −$3.93/SF

NOI

$28.4K $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%

$567,460

Cap Rate 7%

$405,329

Cap Rate 9%

$315,256

Alternative Uses

Best Use

Multifamily LT 5

$405.3K

$354.7K – $472.9K (±1% cap)

NOI $28,373 @ 7.0% cap · market cap 5.92%

Second Best

Apartment 5plus

$372.8K

$326.2K – $434.9K (±1% cap)

NOI $26,096 @ 7.0% cap · market cap 5.45%

Theoretical Best

Office A

$999.9K

$874.9K – $1.17M (±1% cap)

NOI $69,994 @ 7.0% cap · market cap 14.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Carpet & Flooring Store Catering Service Plumbing Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

518

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Farmhouse-style property with a five-to-seven-bedroom main residence and two furnished one-bedroom apartment spaces.

Where is this triplex located?

The property is located at 473 / 475 Union St Bangor, ME.

What is the asking price?

The asking price for this property is $479,000.

What are key features of this property?

This property features: Triplex configuration with a five‑to‑seven‑bedroom main house and two one‑bedroom apartments; 3,096‑square‑foot property on one acre; Main residence includes two full bathrooms and a wood‑burning stove