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    53 Tyng Street Portland, ME 04102

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    Claim this Listing
    New
    For Sale
    $845,000

    MULTI_FAMILY - Colonial - Portland, ME

    Property size:
    2,464 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $342/SF
    Added:
    Apr 29, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 29 at 2:06 pm

    Property Features for 53 Tyng Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RN-4
    Bathrooms
    4
    Rooms
    Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 4, Basement
    Patio and Porch features
    Porch
    Interior features
    1st Floor Bedroom, Bathtub, Shower
    Basement
    Sump Pump, Full, Unfinished
    Standard status
    Active
    Size
    2,464 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    9046

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1805
    Number of units
    4
    Flooring type
    Tile, Wood
    Building materials
    Wood Siding, Shingle Siding, Wood Frame
    Roof type
    Shingle
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Jeffrey Davis

    Listing agent Jeffrey Davis

    Listing office Town & Shore Real Estate One Union Wharf, Portland, ME

    Listing date Apr 29, 2026

    MLS# 1658594 Listing URL

    Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Portland Multifamily Building For Sale

    Located in the West End of Portland, this four-unit apartment building features a mix of two 2-bedroom units and two 1-bedroom units. The property offers classic Portland charm with hardwood floors and clawfoot tubs. A new roof and exterior paint are planned for 2025. The current owner has replaced decks and separated heating systems. The building includes a single-lane driveway that can accommodate 2-3 vehicles, along with a rear yard area. The property is located on a quiet side street and offers good walkability to Harbor View Park, Commercial Street, the Old Port, and the Arts District. The lot size is 0.09 acres. The property size is 2464 square feet. With four units, buyers may be able to get a fixed 30-year residential mortgage. Owner-occupied purchasers can potentially increase rents over time to fair market value. The property is zoned RN-4.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Law Firm Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.261531
    Latitude
    43.649386

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    FAQs

    What type of property is this?
    Quadplex - Four-unit apartment building in Portland's West End with future upgrades.
    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 $845,000.
    What are key features of this property?
    This property features: Four‑unit building allows for a 30‑year residential mortgage option.; New roof and exterior paint completed in 2025.; Excellent location with good walkability to Harbor View Park, Commercial Street, the Old Port, and the Arts District.
    (207) 233-9423
    We can help!
    Listing Contact
    Jeffrey Davis
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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