Side-by-Side Duplex with
For Sale
$599,900
59-61 Maggie Lane, Portland, ME 04103
Multi-Family, Portland, ME
Property Size1,872 SF
Lot Size0.49 Acres
Price / SF$320.46
Days on Market85
Property Features for 59-61 Maggie Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Interior features
Bathtub
Basement
Daylight, Unfinished, Full
Lot features
Well Landscaped, Cul-De-Sac, Sidewalks, Near Shopping, Near Public Transit
Standard status
Active
Size
1,872 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6962
Utilities
Sewer type
Public Sewer
Heating system
Oil, Zoned, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
2000
Number of units
2
Flooring type
Laminate, Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Coyne Webber Real Estate Associates, LLC
(207) 772-4663
Listed By:
Peter Coyne
(207) 939-6126
Added: Jun 11
Changed: Sep 2
Last Checked: Sep 3 at 8:06PM
MLS# 1666108
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.
Investment Insights
Based on property information with market context.
Built in 2000, this duplex contains two side-by-side townhouse-style residences totaling 1,872 square feet. Each unit includes two bedrooms, one bathroom, laminate, vinyl, and carpet flooring, plus a full daylight basement with central bulkhead access. The building has wood-frame construction, vinyl siding, shingle roofing, oil-fired zoned hot-water baseboard heat, public water, and public sewer. The property is zoned RN-3.
The 0.49-acre parcel sits at the end of a cul-de-sac and includes a deep backyard and a wide paved off-street parking area for residents and guests. The University of New England’s Portland Campus for the Health Sciences, including its medical and dental schools, is within walking distance. The Colonial-style property presents two comparable residential layouts in a single multifamily asset.
The 0.49-acre parcel sits at the end of a cul-de-sac and includes a deep backyard and a wide paved off-street parking area for residents and guests. The University of New England’s Portland Campus for the Health Sciences, including its medical and dental schools, is within walking distance. The Colonial-style property presents two comparable residential layouts in a single multifamily asset.
Key Highlights
- Two side‑by‑side townhouse‑style units, each with 2 bedrooms and 1 bathroom
- 1,872 square feet on a 0.49‑acre lot
- Full daylight basement beneath each unit with central bulkhead access
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
$33,081
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
5.51%
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%
$661,620
$661.6K
Cap Rate 7%
$472,586
$472.6K
Cap Rate 9%
$367,567
$367.6K
Market Conditions
NOI Build-Up for 1,872 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
$50.5K $27.00/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$47.3K $25.25/SF
− OpEx
−$14.2K −$7.57/SF
NOI
$33.1K $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%
$661,620
Cap Rate 7%
$472,586
Cap Rate 9%
$367,567
Alternative Uses
Best Use
Multifamily LT 5
$472.6K
$413.5K – $551.4K
NOI $33,081 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$439.7K
$384.7K – $513.0K
NOI $30,777 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$514.5K
$450.2K – $600.3K
NOI $36,016 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two townhouse-style units offer matching layouts, private daylight basements, and shared paved off-street parking.
Where is this duplex located?
The property is located at 59-61 Maggie Lane Portland, ME.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two side‑by‑side townhouse‑style units, each with 2 bedrooms and 1 bathroom; 1,872 square feet on a 0.49‑acre lot; Full daylight basement beneath each unit with central bulkhead access
