Two-Unit Duplex with
50 Noyes Street, Portland, ME 04103
For Sale
$849,000
Each residence has three bedrooms, one bath, and a separate laundry area.
Property Size3,120 SF
Price / SF$272.12
Days on Market179
Property Features for 50 Noyes Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
separate laundry
sun porches
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Waypoint Brokers Collective
(207) 804-2012
Listed By:
Alessandra Malone
(207) 653-7750
Source:
Integrityhomesrealestategroup
Added: May 20
Changed: Nov 11
Last Checked: Nov 13 at 7:57PM
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 Waypoint Brokers Collective
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Investment Insights
Based on property information with market context.
Built in 1920, this 3,120-square-foot duplex contains two residences, each with three bedrooms and one bathroom. Wood flooring and sun porches feature in the units, and the upper residence has recently refinished floors. The property also includes a two-car garage, individual laundry areas, and storage. Updates have addressed building systems, kitchens, bathrooms, natural gas service, and exterior elements. An unfinished third floor is part of the building.
The property occupies a corner lot in Portland and is zoned RN-3. Nearby businesses and destinations named for the area include Bow Street, Portland Squash Club, Big Sky Bakery, Bird & Co., and Woodford F & B.
The property occupies a corner lot in Portland and is zoned RN-3. Nearby businesses and destinations named for the area include Bow Street, Portland Squash Club, Big Sky Bakery, Bird & Co., and Woodford F & B.
Key Highlights
- Two residences, each with three bedrooms and one bathroom
- 3,120 square feet; built in 1920
- RN‑3 zoning on a corner lot in Portland
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,135
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,102,700
$1.1M
Cap Rate 7%
$787,643
$787.6K
Cap Rate 9%
$612,611
$612.6K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$84.2K $27.00/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$78.8K $25.25/SF
− OpEx
−$23.6K −$7.57/SF
NOI
$55.1K $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%
$1,102,700
Cap Rate 7%
$787,643
Cap Rate 9%
$612,611
Alternative Uses
Best Use
Multifamily LT 5
$787.6K
$689.2K – $918.9K
NOI $55,135 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$732.8K
$641.2K – $854.9K
NOI $51,295 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$857.5K
$750.3K – $1.00M
NOI $60,027 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
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Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Portland, ME
Properties on Market for Duplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, one bath, and a separate laundry area.
Where is this duplex located?
The property is located at 50 Noyes Street Portland, ME.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two residences, each with three bedrooms and one bathroom; 3,120 square feet; built in 1920; RN‑3 zoning on a corner lot in Portland
