Duplex with
For Sale
$760,000
52 Smith Street, Portland, ME 04101
Two apartments offer distinct bedroom layouts, with gardens, a sauna, and off-street parking on the property.
Property Size1,970 SF
Price / SF$385.79
Days on Market225
Property Features for 52 Smith Street
General Information
Standard status
Active
Size
1,970 SF
Property subtype
Multi Family Home
Zoning
RES
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,785
Amenities
perennial gardens
greenhouse
sauna
shed
Building Details
Building Size
1,970 SF
Year Built
1840
Stories
3
Units
2
Listing Agency:
RE/MAX Shoreline
(207) 553-7500
Listed By:
Nicholas Guerrette
(207) 939-8519
Source:
Integrityhomesrealestategroup
Added: Mar 27
Changed: Nov 4
Last Checked: Nov 6 at 3:28AM
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 RE/MAX Shoreline
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Investment Insights
Based on property information with market context.
Built in 1840, this three-level duplex contains 1,970 square feet and two apartments: one with two bedrooms and one bathroom, and another with three bedrooms and one bathroom. Electrical, insulation, and heating systems have been updated. A basement, greenhouse, sauna, shed, perennial gardens, and off-street parking add practical features to the property.
The duplex is in Portland’s Bayside community and is zoned RES. Its two-unit configuration combines separate apartment layouts within a single residential property.
The duplex is in Portland’s Bayside community and is zoned RES. Its two-unit configuration combines separate apartment layouts within a single residential property.
Key Highlights
- Two units: one 2‑bedroom, 1‑bath apartment and one 3‑bedroom, 1‑bath apartment
- 1,970 square feet across three levels
- Electrical, insulation, and heating systems have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,813
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$696,260
$696.3K
Cap Rate 7%
$497,329
$497.3K
Cap Rate 9%
$386,811
$386.8K
Market Conditions
NOI Build-Up for 1,970 SF
Gross rent
$53.2K $27.00/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$49.7K $25.25/SF
− OpEx
−$14.9K −$7.57/SF
NOI
$34.8K $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%
$696,260
Cap Rate 7%
$497,329
Cap Rate 9%
$386,811
Alternative Uses
Best Use
Multifamily LT 5
$497.3K
$435.2K – $580.2K
NOI $34,813 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$462.7K
$404.9K – $539.8K
NOI $32,388 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$541.5K
$473.8K – $631.7K
NOI $37,902 @ 7.0% cap · market cap 4.99%
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
4,795
Businesses Nearby
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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
$600,600
Median Home Value
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Market
Average Price Trend$/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 - Two apartments offer distinct bedroom layouts, with gardens, a sauna, and off-street parking on the property.
Where is this duplex located?
The property is located at 52 Smith Street Portland, ME.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Two units: one 2‑bedroom, 1‑bath apartment and one 3‑bedroom, 1‑bath apartment; 1,970 square feet across three levels; Electrical, insulation, and heating systems have been updated
