Two-Unit Duplex with Detached
70 Pleasant Avenue, Portland, ME 04103
For Sale
$880,000
Each residence has three bedrooms, a kitchen, and a living room; the upper home also includes a finished third floor.
Property Size3,788 SF
Lot Size0.18 Acres
Price / SF$232.31
Days on Market54
Property Features for 70 Pleasant Avenue
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Plowman Realty Group
Listed By:
Travis Hamilton
(207) 807-8076
Source:
Waypointbrokers
Added: Sep 18
Changed: Nov 10
Last Checked: Nov 9 at 8:06PM
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 Plowman Realty Group
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 3,788 square feet of finished living area on a 7,840-square-foot lot. Both apartments have three bedrooms, a full bathroom, a kitchen, and a living room. The upper unit includes a finished third floor with a kitchen and appliances, living and family rooms, a full bath, and a large bedroom. A detached two-car garage has walk-up storage above, with additional off-street parking on site.
Exterior and mechanical updates include vinyl siding, rebuilt porches with composite decking, vinyl double-pane windows, natural gas service, Buderus boilers, and gas water heaters. The building dates to 1898 and is in Portland’s Deering Center neighborhood.
Exterior and mechanical updates include vinyl siding, rebuilt porches with composite decking, vinyl double-pane windows, natural gas service, Buderus boilers, and gas water heaters. The building dates to 1898 and is in Portland’s Deering Center neighborhood.
Key Highlights
- Two‑unit property with 3,788 square feet of finished living area
- 7,840‑square‑foot lot in Portland’s Deering Center neighborhood
- Both units have three bedrooms, a kitchen, a living room, and a full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,940
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,338,800
$1.3M
Cap Rate 7%
$956,286
$956.3K
Cap Rate 9%
$743,778
$743.8K
Market Conditions
NOI Build-Up for 3,788 SF
Gross rent
$102.3K $27.00/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$95.6K $25.25/SF
− OpEx
−$28.7K −$7.57/SF
NOI
$66.9K $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 Rate 5%
$1,338,800
Cap Rate 7%
$956,286
Cap Rate 9%
$743,778
Alternative Uses
Best Use
Multifamily LT 5
$956.3K
$836.8K – $1.12M
NOI $66,940 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$889.7K
$778.5K – $1.04M
NOI $62,277 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$1.04M
$911.0K – $1.21M
NOI $72,879 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
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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
$421,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Portland, ME
Properties on Market for Duplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, a kitchen, and a living room; the upper home also includes a finished third floor.
Where is this duplex located?
The property is located at 70 Pleasant Avenue Portland, ME.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Two‑unit property with 3,788 square feet of finished living area; 7,840‑square‑foot lot in Portland’s Deering Center neighborhood; Both units have three bedrooms, a kitchen, a living room, and a full bath
