Updated Duplex with Bonus
For Sale
$849,900
58 Portland Ave, Old Orchard Beach, ME 04064
Two townhouse-style units offer updated interiors, shared storage areas, and unfinished expansion space above the garage.
Property Size4,029 SF
Price / SF$210.95
Days on Market51
Property Features for 58 Portland Ave
General Information
Standard status
Active
Size
4,029 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1880
Buildings
1
Listed By:
Doug Schauf · License #BA917314
(207) 838-5593
Source:
Makemaineyourhome
Added: Aug 28
Changed: Oct 11
Last Checked: Oct 16 at 8:20AM
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 Doug Schauf
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Investment Insights
Based on property information with market context.
Built in 1880, this duplex contains two townhouse units totaling 4,029 square feet. Both residences have been updated and include generously sized bedrooms and living areas. An unfinished room above the garage is already served by electrical and plumbing, providing additional space for a future configuration. The property also includes a shared attic, shared basement, and private owner’s storage positioned between the garage and rear unit.
The lot previously received approval for an additional four-unit building. There is no HOA, and the property is located a half mile from the beach. Rental history includes both year-round and short-term occupancy, offering an established record across multiple rental formats.
The lot previously received approval for an additional four-unit building. There is no HOA, and the property is located a half mile from the beach. Rental history includes both year-round and short-term occupancy, offering an established record across multiple rental formats.
Key Highlights
- Two townhouse units totaling 4,029 square feet
- Built in 1880 with both units recently updated
- Unfinished space above the garage has existing electrical and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,204
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,364,080
$1.4M
Cap Rate 7%
$974,343
$974.3K
Cap Rate 9%
$757,822
$757.8K
Market Conditions
NOI Build-Up for 4,029 SF
Gross rent
$102.5K $25.44/SF
− Vacancy
−$5.1K −$1.26/SF
EGI
$97.4K $24.18/SF
− OpEx
−$29.2K −$7.25/SF
NOI
$68.2K $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%
$1,364,080
Cap Rate 7%
$974,343
Cap Rate 9%
$757,822
Alternative Uses
Best Use
Multifamily LT 5
$974.3K
$852.6K – $1.14M
NOI $68,204 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$889.5K
$778.3K – $1.04M
NOI $62,265 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,402 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
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Business Placement
Demographics for 04064, ME
8,452
Population
6,783
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,261
Density / Sq Mi
$66,689
Median Household Income
$42,532
Median Earnings
$1,142
Median Rent
$312,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two townhouse-style units offer updated interiors, shared storage areas, and unfinished expansion space above the garage.
Where is this duplex located?
The property is located at 58 Portland Ave Old Orchard Beach, ME.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two townhouse units totaling 4,029 square feet; Built in 1880 with both units recently updated; Unfinished space above the garage has existing electrical and plumbing
