Two-Unit
53 Pike Street, Biddeford, ME 04005
For Sale
$379,000
Both apartments have two bedrooms and in-unit laundry.
Property Size1,903 SF
Price / SF$199.16
Days on Market110
Property Features for 53 Pike Street
General Information
Standard status
Size
Property subtype
Zoning
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
yard
off-street parking
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Jessica Wallimann
(207) 939-6832
Source:
Integrityhomesrealestategroup
Added: Jul 23
Changed: Nov 7
Last Checked: Nov 8 at 4:31PM
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
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Investment Insights
Based on property information with market context.
This 1,903-square-foot duplex was built in 1900 and contains two apartments, each with two bedrooms and in-unit laundry. Off-street parking and a yard are also part of the property.
The building is in downtown Biddeford, near shops and restaurants. Its zoning is R2.
The building is in downtown Biddeford, near shops and restaurants. Its zoning is R2.
Key Highlights
- Two apartments, each with two bedrooms
- 1,903 square feet; built in 1900
- In‑unit laundry in both apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,215
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,300
$644.3K
Cap Rate 7%
$460,214
$460.2K
Cap Rate 9%
$357,944
$357.9K
Market Conditions
NOI Build-Up for 1,903 SF
Gross rent
$48.4K $25.44/SF
− Vacancy
−$2.4K −$1.26/SF
EGI
$46.0K $24.18/SF
− OpEx
−$13.8K −$7.25/SF
NOI
$32.2K $16.93/SF
Area
York County, ME
Vacancy
4.94%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,300
Cap Rate 7%
$460,214
Cap Rate 9%
$357,944
Alternative Uses
Best Use
Multifamily LT 5
$460.2K
$402.7K – $536.9K
NOI $32,215 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$420.1K
$367.6K – $490.2K
NOI $29,410 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$603.2K
$527.8K – $703.8K
NOI $42,227 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,323
Businesses Nearby
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Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in York County, ME
Properties on Market for Duplexes in York County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments have two bedrooms and in-unit laundry.
Where is this duplex located?
The property is located at 53 Pike Street Biddeford, ME.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms; 1,903 square feet; built in 1900; In‑unit laundry in both apartments
