Move-In-Ready Duplex
57 Elm Street Bangor, ME 04401
57 Elm Street, Bangor, ME, 04401
$325,000
Pending
For Sale
$325,000
Pending
1900 duplex in Bangor with separately serviced utilities and independent hot water for both units.
Property Size2,688 SF
Days on Market179
Property Features for 57 Elm Street
General Information
- Standard status
- Pending
- Size
- 2,688 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing agency
NextHome Experience
(207) 745-5568
Listed by
Lisa Caron · License #BR924778,PersonLicenseNumber
(207) 745-5568
Source
Compass
Added: Jan 24 Updated: Jul 21 at 1:59PM Checked: Jul 21 at 1:59PM
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 NextHome Experience
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate residential units with modernized, individually metered services. The front unit features 3–4 bedrooms and 1 full bath and is currently unoccupied. The rear unit offers 2 bedrooms and 1 full bath and is occupied on a month-to-month lease.
Improvements since purchase in July 2021 include separation of hot water systems, with each unit having its own independent hot water supply, along with a newer heat pump hot water heater added to one unit. Utilities were also separated, including natural gas and electric meters, so each apartment has its own heating system and electric service. Additional updates include smart thermostats, updated wiring and 24-volt transformers in each apartment, new refrigerators and washer/dryer sets in both units, and other interior upgrades such as a new electric range in one unit, along with new laminate flooring and new carpeting on the stairway to the second level in the smaller unit. The driveway has been resurfaced with crushed gravel, and the sewer line from the house to the city main connection was replaced with associated plumbing updates.
The property is located in a convenient Bangor area near hospitals, downtown, shopping, parks, and local amenities, with public transportation available within one block.
Improvements since purchase in July 2021 include separation of hot water systems, with each unit having its own independent hot water supply, along with a newer heat pump hot water heater added to one unit. Utilities were also separated, including natural gas and electric meters, so each apartment has its own heating system and electric service. Additional updates include smart thermostats, updated wiring and 24-volt transformers in each apartment, new refrigerators and washer/dryer sets in both units, and other interior upgrades such as a new electric range in one unit, along with new laminate flooring and new carpeting on the stairway to the second level in the smaller unit. The driveway has been resurfaced with crushed gravel, and the sewer line from the house to the city main connection was replaced with associated plumbing updates.
The property is located in a convenient Bangor area near hospitals, downtown, shopping, parks, and local amenities, with public transportation available within one block.
Key Highlights
- Well‑maintained 1900 duplex with two 1st/2nd‑floor interiors featuring 2 total bathrooms
- Front unit: 3–4 bedrooms and 1 full bath, currently unoccupied for owner occupancy or new rental terms
- Rear unit: 2 bedrooms and 1 full bath, occupied on a month‑to‑month lease
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.1k | $13.80 |
| − Vacancy | −$1.9k | −$0.71 |
| EGI | $35.2k | $13.09 |
| − OpEx | −$10.6k | −$3.93 |
| NOI | $24.6k | $9.16 |
2,688 SF · lease $13.80/SF/yr · vacancy 5.13% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$351.9K
$307.9K – $410.6K
NOI $24,634 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$323.7K
$283.2K – $377.6K
NOI $22,657 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$868.1K
$759.6K – $1.01M
NOI $60,770 @ 7.0% cap · market cap 18.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - 1900 duplex in Bangor with separately serviced utilities and independent hot water for both units.
Where is this duplex located?
The property is located at 57 Elm Street Bangor, ME.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Well‑maintained 1900 duplex with two 1st/2nd‑floor interiors featuring 2 total bathrooms; Front unit: 3–4 bedrooms and 1 full bath, currently unoccupied for owner occupancy or new rental terms; Rear unit: 2 bedrooms and 1 full bath, occupied on a month‑to‑month lease
