Three-Unit Residential Income
For Sale
$635,000
Pending
64 Bradbury Street, Biddeford, ME 04005
Three-unit residential property with off-street parking, with each unit offering three bedrooms.
Property Size3,300 SF
Days on Market164
Property Features for 64 Bradbury Street
General Information
Standard status
Pending
Size
3,300 SF
Property subtype
Multi-Family
Zoning
MSRD2
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,704
Amenities
Oil, Baseboard, Hot Water, Zoned
Interior Entry, Crawl Space, Full, Unfinished, Brick/Mortar
Carpet, Laminate, Vinyl, Wood
Laundry - Hookup
No
Yes
3
Washer Hookup
3.0
Deck
Shingle
Gravel
Vinyl Siding
Double Pane Windows
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Landing Real Estate
Listed By:
Tony Duong
(207) 451-3607
Source:
Compass
Added: Mar 26
Changed: Aug 8
Last Checked: Jul 30 at 12:43PM
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 Landing Real Estate
Investment Insights
Based on property information with market context.
This three-unit residential income property offers three-bedroom layouts in each unit, providing a consistent configuration across the building. The property includes valuable off-street parking, which supports everyday tenant convenience.
Located in the center of Biddeford’s downtown area, the property is described as being just moments from Main Street and provides easy access to major commuting routes.
With a three-unit setup and off-street parking on site, the building is positioned as a straightforward, multi-unit asset for an investor looking for residential income within an active downtown setting.
Located in the center of Biddeford’s downtown area, the property is described as being just moments from Main Street and provides easy access to major commuting routes.
With a three-unit setup and off-street parking on site, the building is positioned as a straightforward, multi-unit asset for an investor looking for residential income within an active downtown setting.
Key Highlights
- Three‑unit residential property, built in 1900, offering 3 bedrooms per unit
- Off‑street parking available for the property
- Heating includes zoned, hot water, and baseboard systems (heating is present)
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
$55,863
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
8.80%
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%
$1,117,260
$1.1M
Cap Rate 7%
$798,043
$798.0K
Cap Rate 9%
$620,700
$620.7K
Market Conditions
NOI Build-Up for 3,300 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
$84.0K $25.44/SF
− Vacancy
−$4.1K −$1.26/SF
EGI
$79.8K $24.18/SF
− OpEx
−$23.9K −$7.25/SF
NOI
$55.9K $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 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%
$1,117,260
Cap Rate 7%
$798,043
Cap Rate 9%
$620,700
Alternative Uses
Best Use
Multifamily LT 5
$798.0K
$698.3K – $931.1K
NOI $55,863 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$728.6K
$637.5K – $850.0K
NOI $50,999 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$1.05M
$915.3K – $1.22M
NOI $73,226 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Explore this area
Business Placement
Demographics for 04005, ME
24,581
Population
11,001
Households
2.2
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
47.9 sq mi
ZIP Area
513
Density / Sq Mi
$71,268
Median Household Income
$39,176
Median Earnings
$1,186
Median Rent
$351,700
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?
Triplex - Three-unit residential property with off-street parking, with each unit offering three bedrooms.
Where is this triplex located?
The property is located at 64 Bradbury Street Biddeford, ME.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Three‑unit residential property, built in 1900, offering 3 bedrooms per unit; Off‑street parking available for the property; Heating includes zoned, hot water, and baseboard systems (heating is present)
