Duplex with Barn and Private
New
For Sale
$850,000
70 Winter St, Portland, ME 04102
Two distinct residences include a three-bedroom owner’s unit and a separate one-bedroom apartment.
Property Size2,456 SF
Price / SF$346.09
Days on Market6
Property Features for 70 Winter St
General Information
Standard status
Active
Size
2,456 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR
Multifamily Units
2
Building Details
Year Built
1838
Listed By:
Crown Lakes Realty
(207) 436-8889
Source:
Crownlakesrealty
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 7:20AM
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 Crown Lakes Realty
Investment Insights
Based on property information with market context.
This 2,456-square-foot duplex dates to 1838 and combines historic character with updated interior elements. The larger residence spans two floors and includes three bedrooms, two full bathrooms, a renovated kitchen, and a layout that supports living on the first level. Upstairs, two bedrooms share a Jack-and-Jill bathroom.
A separate one-bedroom apartment has its own entrance and a distinct floor plan. Exterior features include a red brick driveway, backyard, and full barn, providing useful additional improvements alongside the residential units. The property is located at 70 Winter St in Portland, Maine.
A separate one-bedroom apartment has its own entrance and a distinct floor plan. Exterior features include a red brick driveway, backyard, and full barn, providing useful additional improvements alongside the residential units. The property is located at 70 Winter St in Portland, Maine.
Key Highlights
- 2,456‑square‑foot duplex built in 1838
- Owner’s unit offers 3 bedrooms and 2 full bathrooms across two floors
- Separate 1‑bedroom apartment with private entrance
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
$43,401
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
5.11%
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%
$868,020
$868.0K
Cap Rate 7%
$620,014
$620.0K
Cap Rate 9%
$482,233
$482.2K
Market Conditions
NOI Build-Up for 2,456 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
$66.3K $27.00/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$62.0K $25.25/SF
− OpEx
−$18.6K −$7.57/SF
NOI
$43.4K $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%
$868,020
Cap Rate 7%
$620,014
Cap Rate 9%
$482,233
Alternative Uses
Best Use
Multifamily LT 5
$620.0K
$542.5K – $723.4K
NOI $43,401 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$576.8K
$504.7K – $673.0K
NOI $40,378 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$675.0K
$590.7K – $787.5K
NOI $47,252 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,696
Businesses Nearby
Explore this area
Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences include a three-bedroom owner’s unit and a separate one-bedroom apartment.
Where is this duplex located?
The property is located at 70 Winter St Portland, ME.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,456‑square‑foot duplex built in 1838; Owner’s unit offers 3 bedrooms and 2 full bathrooms across two floors; Separate 1‑bedroom apartment with private entrance
