Brick Quadplex With
For Sale
$1,200,000
481 Cumberland Avenue, Portland, ME 04101
Vacant delivery includes private parking and a varied mix of unit layouts.
Property Size4,086 SF
Price / SF$293.69
Days on Market13
Property Features for 481 Cumberland Avenue
General Information
Standard status
Active
Size
4,086 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR+den/1.5BA, 3 x 1BR
Multifamily Units
4
Amenities
private parking lot
in-unit laundry
Building Details
Year Built
1866
Construction
brick
Listing Agency:
Vitalius Real Estate Group,LLC
Listed By:
Briton Vitalius
(603) 433-3350
Source:
Greatislandrealty
Added: Aug 11
Changed: Aug 23
Last Checked: Aug 22 at 9:08AM
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 Vitalius Real Estate Group,LLC
Investment Insights
Based on property information with market context.
Located at 481 Cumberland Avenue in Portland, Maine, this 4,086-square-foot brick quadplex dates to 1866 and includes a private parking lot. The property will be delivered vacant, allowing the next owner to determine the operating approach for each residence.
The largest unit spans two floors and offers 2 bedrooms, a den, 1.5 baths, and in-unit laundry. Three additional one-bedroom units feature lofty ceilings, hardwood floors, and historic interior details. Two units have previously operated as short-term rentals, while the full property’s vacant delivery provides flexibility for future use.
The largest unit spans two floors and offers 2 bedrooms, a den, 1.5 baths, and in-unit laundry. Three additional one-bedroom units feature lofty ceilings, hardwood floors, and historic interior details. Two units have previously operated as short-term rentals, while the full property’s vacant delivery provides flexibility for future use.
Key Highlights
- 4,086‑square‑foot brick quadplex built in 1866
- Private parking lot included
- Vacant delivery with 4 residential units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,206
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,444,120
$1.4M
Cap Rate 7%
$1,031,514
$1.0M
Cap Rate 9%
$802,289
$802.3K
Market Conditions
NOI Build-Up for 4,086 SF
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.
Gross rent
$110.3K $27.00/SF
− Vacancy
−$7.2K −$1.76/SF
EGI
$103.2K $25.25/SF
− OpEx
−$30.9K −$7.57/SF
NOI
$72.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,444,120
Cap Rate 7%
$1,031,514
Cap Rate 9%
$802,289
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.6K – $1.20M
NOI $72,206 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$959.7K
$839.7K – $1.12M
NOI $67,176 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$1.12M
$982.7K – $1.31M
NOI $78,613 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 04101, ME
18,109
Population
11,510
Households
1.6
Avg Household Size
36
Median Age
57%
College-Educated
93%
High-School Grad
2.0 sq mi
ZIP Area
9,055
Density / Sq Mi
$60,726
Median Household Income
$45,009
Median Earnings
$1,457
Median Rent
$600,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Vacant delivery includes private parking and a varied mix of unit layouts.
Where is this quadplex located?
The property is located at 481 Cumberland Avenue Portland, ME.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,086‑square‑foot brick quadplex built in 1866; Private parking lot included; Vacant delivery with 4 residential units
