Four-Unit Apartment
For Sale
Contact for pricing
53 Tyng Street, Portland, ME 04102
Historic apartment property with a balanced mix of one- and two-bedroom units and recent exterior improvements.
Property Size2,464 SF
Price / SF$322.65
Days on Market112
Property Features for 53 Tyng Street
General Information
Standard status
Active
Size
2,464 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
RN-4
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$64,189
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Amenities
hardwood floors
clawfoot tubs
rear yard
Building Details
Year Built
1805
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
Town & Shore Real Estate
(207) 233-9423
Listed By:
Jeffrey T. Davis · License #ME 901562
Source:
Crexi
Added: May 12
Changed: Aug 29
Last Checked: Aug 29 at 5:55PM
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 Town & Shore Real Estate
Investment Insights
Based on property information with market context.
This four-unit apartment building at 53 Tyng Street contains two two-bedroom apartments and two one-bedroom apartments within a 2,464-square-foot property built in 1805. Interior character includes hardwood flooring and clawfoot tubs, while recent work includes a new roof, exterior painting, replacement decks, and separately controlled heating systems.
The property includes a single-lane driveway with capacity for 2-3 vehicles and a rear yard. Its Portland location provides walkable access to Harbor View Park, Commercial Street, the Old Port, and the Arts District. The property is zoned RN-4.
The property includes a single-lane driveway with capacity for 2-3 vehicles and a rear yard. Its Portland location provides walkable access to Harbor View Park, Commercial Street, the Old Port, and the Arts District. The property is zoned RN-4.
Key Highlights
- Four units: two 2‑bedroom apartments and two 1‑bedroom apartments
- 2,464‑square‑foot apartment building constructed in 1805
- New roof and exterior paint completed in 2025
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
$43,543
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
5.48%
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%
$870,860
$870.9K
Cap Rate 7%
$622,043
$622.0K
Cap Rate 9%
$483,811
$483.8K
Market Conditions
NOI Build-Up for 2,464 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
$66.5K $27.00/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$62.2K $25.25/SF
− OpEx
−$18.7K −$7.57/SF
NOI
$43.5K $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%
$870,860
Cap Rate 7%
$622,043
Cap Rate 9%
$483,811
Alternative Uses
Best Use
Multifamily LT 5
$622.0K
$544.3K – $725.7K
NOI $43,543 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$578.7K
$506.4K – $675.2K
NOI $40,510 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$677.2K
$592.6K – $790.1K
NOI $47,406 @ 7.0% cap · market cap 5.96%
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
4,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
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 - Historic apartment property with a balanced mix of one- and two-bedroom units and recent exterior improvements.
Where is this quadplex located?
The property is located at 53 Tyng Street Portland, ME.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Four units: two 2‑bedroom apartments and two 1‑bedroom apartments; 2,464‑square‑foot apartment building constructed in 1805; New roof and exterior paint completed in 2025
