Five-Unit Apartment
For Sale
$795,000
7 Emmons Place, Biddeford, ME 04005
Multi-Family, Biddeford, ME
Property Size3,180 SF
Lot Size0.19 Acres
Price / SF$250
Days on Market51
Property Features for 7 Emmons Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 1, Basement, Bathroom 3, Bathroom 4, Bathroom 5
Basement
Unfinished
Lot features
Level, Near Shopping, Near Town
Standard status
Active
Size
3,180 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7982
Utilities
Sewer type
Public Sewer
Heating system
Oil, Baseboard, Hot Water(Heating)
Water source
Public
Amenities
off-street parking
expansive rear decks
established raised garden beds
Building Details
Year built
1880
Number of units
5
Flooring type
Wood, Carpet, Vinyl, Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Signature Homes Real Estate Group, LLC
(207) 885-0500
Listed By:
Derek Goff Joseph Tomazin
(207) 749-9905
Added: Jul 28
Changed: Sep 14
Last Checked: Sep 16 at 7:06AM
MLS# 1673817
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.
This 3,180-square-foot apartment building contains five occupied units: four one-bedroom, one-bath apartments and a two-bedroom, one-bath apartment spanning the third floor. The property includes a mix of updated and unrenovated interiors, with carpet, laminate, wood, and vinyl flooring. Residents have access to off-street parking, large rear decks, and raised garden beds. Tenants pay their own electricity, while heat and hot water are included. Built in 1880, the wood-frame building has vinyl siding, a shingle roof, public water, and public sewer, and is zoned R2.
The property is positioned across from Hannaford in Biddeford, providing direct access to grocery shopping and daily necessities. Downtown Biddeford's restaurants, breweries, shops, parks, and business district are minutes away, with major commuter routes also nearby.
The property is positioned across from Hannaford in Biddeford, providing direct access to grocery shopping and daily necessities. Downtown Biddeford's restaurants, breweries, shops, parks, and business district are minutes away, with major commuter routes also nearby.
Key Highlights
- Five occupied apartments: four 1‑bedroom units and one 2‑bedroom unit
- 3,180 Square Feet apartment building on 0.19 acres
- R2 zoning with public water and public sewer
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
$49,145
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
6.18%
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%
$982,900
$982.9K
Cap Rate 7%
$702,071
$702.1K
Cap Rate 9%
$546,056
$546.1K
Market Conditions
NOI Build-Up for 3,180 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
$94.3K $29.64/SF
− Vacancy
−$4.9K −$1.54/SF
EGI
$89.4K $28.10/SF
− OpEx
−$40.2K −$12.64/SF
NOI
$49.1K $15.45/SF
Area
York County, ME
Vacancy
5.20%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
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%
$982,900
Cap Rate 7%
$702,071
Cap Rate 9%
$546,056
Alternative Uses
Best Use
Apartment 5plus
$702.1K
$614.3K – $819.1K
NOI $49,145 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$882.0K – $1.18M
NOI $70,563 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
894
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Fully occupied residential property with off-street parking, rear decks, and convenient grocery access.
Where is this apartment building located?
The property is located at 7 Emmons Place Biddeford, ME.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Five occupied apartments: four 1‑bedroom units and one 2‑bedroom unit; 3,180 Square Feet apartment building on 0.19 acres; R2 zoning with public water and public sewer
