Historic Duplex with
New
For Sale
$850,000
70 Winter Street, Portland, ME 04102
Multi-Family, Portland, ME
Property Size2,456 SF
Lot Size0.10 Acres
Price / SF$346.09
Days on Market2
Property Features for 70 Winter Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Basement, Bathroom 3
Interior features
1st Floor Bedroom
Basement
Unfinished
Lot features
Open, Level, Sidewalks, Intown
Standard status
Active
Size
2,456 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9378
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1838
Number of units
2
Flooring type
Wood
Building materials
Wood Frame, Clapboard
Roof type
Shingle
Architectural style
Other
Listing Agency:
Vitalius Real Estate Group, LLC
(207) 541-3755
Listed By:
Briton Vitalius
(207) 318-2555
Added: Sep 21
Last Checked: Sep 22 at 9:06PM
MLS# 1681421
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.
Built in 1838, this 2,456-square-foot duplex combines historic character with practical updates. The primary residence spans two floors and includes three bedrooms, two full bathrooms, a first-floor bedroom option, a renovated kitchen, and updated bathrooms. The second residence is a one-bedroom apartment with its own entrance and a separate open layout.
The property occupies 0.1 acres and includes a red brick driveway, backyard, and full barn. Wood-frame construction with clapboard siding, wood flooring, a shingle roof, natural-gas hot-water heat, public water, and public sewer complete the improvements. The property is zoned RN-4 and located at 70 Winter Street in Portland, Maine.
The property occupies 0.1 acres and includes a red brick driveway, backyard, and full barn. Wood-frame construction with clapboard siding, wood flooring, a shingle roof, natural-gas hot-water heat, public water, and public sewer complete the improvements. The property is zoned RN-4 and located at 70 Winter Street in Portland, Maine.
Key Highlights
- 2,456‑square‑foot duplex with two distinct residential units
- Owner’s residence 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
Multi-tenant
Tenancy
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 spacious owner’s unit and a separately entered one-bedroom apartment.
Where is this duplex located?
The property is located at 70 Winter Street 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 with two distinct residential units; Owner’s residence offers 3 bedrooms and 2 full bathrooms across two floors; Separate 1‑bedroom apartment with private entrance
