Listing Agency: Landing Real Estate m***@landinghomesmaine.com Show Phone

Listed By: Andrew Lord Show Phone

Source: Exprealty

Added: Oct 2 Changed: Oct 7 Last Checked: Oct 13 at 12:45AM

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Investment Insights

Based on property information with market context.

This duplex contains two distinct apartments on a 0.21-acre lot. The first-floor residence has three bedrooms, a living room, an eat-in kitchen, and a private laundry room. The other apartment includes one bedroom with a walk-in closet, an eat-in kitchen, and a living room; it has been renovated down to the framing. Recent building updates include heat pump water heaters and a furnace installed in 2020.

The property is near the Brewer River Walk and downtown Bangor. A driveway provides off-street parking, and the grassy yard is fenced along three sides.

Key Highlights

• Two apartments: one with three bedrooms and one with a bedroom and walk‑in closet
• 0.21‑acre lot with a grassy yard fenced on three sides
• Second apartment renovated down to the framing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,995

Cap Rate

7.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$439,900 $439.9K

Cap Rate 7%

$314,214 $314.2K

Cap Rate 9%

$244,389 $244.4K

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$33.1K $13.80/SF

− Vacancy

−$1.7K −$0.71/SF

EGI

$31.4K $13.09/SF

− OpEx

−$9.4K −$3.93/SF

NOI

$22.0K $9.16/SF

Area

Penobscot County, ME

Vacancy

5.13%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$439,900

Cap Rate 7%

$314,214

Cap Rate 9%

$244,389

Alternative Uses

Best Use

Multifamily LT 5

$314.2K

$274.9K – $366.6K (±1% cap)

NOI $21,995 @ 7.0% cap · market cap 7.36%

Second Best

Apartment 5plus

$289.0K

$252.9K – $337.2K (±1% cap)

NOI $20,229 @ 7.0% cap · market cap 6.77%

Theoretical Best

Office A

$775.1K

$678.2K – $904.3K (±1% cap)

NOI $54,259 @ 7.0% cap · market cap 18.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Wine and Liquor Store Garden Center Veterinary Clinic Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,545

Businesses Nearby

Explore this area Business Placement

Demographics for 04412, ME

9,672

Population

4,565

Households

2.1

Avg Household Size

43

Median Age

31%

College-Educated

95%

High-School Grad

15.2 sq mi

ZIP Area

636

Density / Sq Mi

$51,490

Median Household Income

$35,700

Median Earnings

$984

Median Rent

$218,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two apartments offer a three-bedroom layout on the first floor and a renovated one-bedroom residence above.

Where is this duplex located?

The property is located at 73 Parker St Brewer, ME.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: Two apartments: one with three bedrooms and one with a bedroom and walk‑in closet; 0.21‑acre lot with a grassy yard fenced on three sides; Second apartment renovated down to the framing