Updated Two-Unit
For Sale
$489,000
72 Green Street, Biddeford, ME 04005
Two-unit residential income property with separate utilities, in-unit laundry, and recent improvements to both the building and one apartment.
Property Size2,142 SF
Price / SF$228.29
Days on Market13
Property Features for 72 Green Street
General Information
Standard status
Active
Size
2,142 SF
Property subtype
Multi-family
Units
Unit Mix
3 Bedroom, 2 Bedroom
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
Listed By:
Troy Williams
(603) 433-3350
Source:
Greatislandrealty
Added: Aug 28
Changed: Sep 8
Last Checked: Sep 8 at 6:53AM
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 Keller Williams Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
This 2,142-square-foot duplex, built in 1920, contains two residential units with a three-bedroom and a two-bedroom layout. The first-floor two-bedroom apartment is vacant, while the property includes separate utilities and laundry within the units.
Recent work includes a metal roof, newer heating systems, vinyl siding, newer windows, and a full renovation of one apartment. The renovated unit received a new kitchen, bathroom, and flooring, providing substantial building and interior updates at 72 Green St in Biddeford, Maine.
Recent work includes a metal roof, newer heating systems, vinyl siding, newer windows, and a full renovation of one apartment. The renovated unit received a new kitchen, bathroom, and flooring, providing substantial building and interior updates at 72 Green St in Biddeford, Maine.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 2‑bedroom apartments
- 2,142 SF building constructed in 1920
- First‑floor 2‑bedroom unit is currently vacant
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
$36,260
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
7.42%
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%
$725,200
$725.2K
Cap Rate 7%
$518,000
$518.0K
Cap Rate 9%
$402,889
$402.9K
Market Conditions
NOI Build-Up for 2,142 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
$54.5K $25.44/SF
− Vacancy
−$2.7K −$1.26/SF
EGI
$51.8K $24.18/SF
− OpEx
−$15.5K −$7.25/SF
NOI
$36.3K $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%
$725,200
Cap Rate 7%
$518,000
Cap Rate 9%
$402,889
Alternative Uses
Best Use
Multifamily LT 5
$518.0K
$453.3K – $604.3K
NOI $36,260 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$472.9K
$413.8K – $551.7K
NOI $33,103 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$679.0K
$594.1K – $792.2K
NOI $47,530 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,206
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with separate utilities, in-unit laundry, and recent improvements to both the building and one apartment.
Where is this duplex located?
The property is located at 72 Green Street Biddeford, ME.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 2‑bedroom apartments; 2,142 SF building constructed in 1920; First‑floor 2‑bedroom unit is currently vacant
