Townhouse-Style Duplex With
For Sale
$599,900
59-61 Maggie Lane, Portland, ME 04103
Two side-by-side units provide flexible residential income use with individual basement storage and paved off-street parking.
Property Size1,872 SF
Lot Size0.49 Acres
Price / SF$320.46
Days on Market99
Property Features for 59-61 Maggie Lane
General Information
Standard status
Active
Size
1,872 SF
Lot size
0.49 Acres
Property subtype
Multi-Family
Zoning
RN-3
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,962
Amenities
Oil, Baseboard, Hot Water, Zoned
Bulkhead, Interior Entry, Daylight, Full, Unfinished
Carpet, Laminate, Other, Vinyl
Bathtub, Washer Hookup, Sprinkler
Air Radon Mitigation System, Cable, DSL, Internet Access Available, Satellite Dish
No
Yes
2
Washer Hookup
Bathtub
2.0
Shingle
Storm Door(s)
Building Details
Year Built
2000
Listing Agency:
Coyne Webber Real Estate Associates, LLC
Listed By:
Peter Coyne
(207) 939-6126
Source:
Compass
Added: May 27
Changed: Sep 2
Last Checked: Aug 31 at 10:28PM
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 Coyne Webber Real Estate Associates, LLC
Investment Insights
Based on property information with market context.
Built in 2000, this duplex contains two attached townhouse-style residences within a 1,872-square-foot property. Each unit offers two bedrooms, one bathroom, natural light, carpet and laminate flooring, a bathtub, and washer hookups. Individual full daylight basements provide unfinished storage space, with bulkhead and interior access. The interiors are described as updated, and each residence includes zoned baseboard hot-water heat and an air radon mitigation system.
The property occupies 0.49 acres at 59-61 Maggie Lane in Portland, Maine, at the end of a cul-de-sac. A broad paved parking area serves residents and guests, while the lot includes a deep backyard. The property is within walking distance of the University of New England’s Portland Campus for the Health Sciences, including its medical and dental schools. Zoning is RN-3.
The property occupies 0.49 acres at 59-61 Maggie Lane in Portland, Maine, at the end of a cul-de-sac. A broad paved parking area serves residents and guests, while the lot includes a deep backyard. The property is within walking distance of the University of New England’s Portland Campus for the Health Sciences, including its medical and dental schools. Zoning is RN-3.
Key Highlights
- Two‑unit duplex with 1,872 SF of total property size
- Each residence has 2 bedrooms and 1 bathroom
- Individual full daylight basements with bulkhead and interior entry
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side units provide flexible residential income use with individual basement storage and 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‑unit duplex with 1,872 SF of total property size; Each residence has 2 bedrooms and 1 bathroom; Individual full daylight basements with bulkhead and interior entry
