Two-Unit Residential Income
75 Carleton Street Portland, ME 04102
For Sale
$990,000
Two-unit residence with cathedral ceilings and skylights plus off-street parking and a private courtyard.
Property Size2,634 SF
Price / SF$375.85
Days on Market75
Property Features for 75 Carleton Street
General Information
Standard status
Active
Size
2,634 SF
Property subtype
Multi-family
Building Details
Year Built
1874
Listing Agency:
Maine Real Estate Co
Listed By:
Karen Edgcombe
(603) 433-3350
Source:
Greatislandrealty
Added: May 16
Changed: Jul 21
Last Checked: Jul 28 at 9:34PM
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 Maine Real Estate Co
Investment Insights
Based on property information with market context.
This two-unit residential income property is currently set up as a two-unit home and includes a full basement for storage. The primary living space features 4 bedrooms plus an office and 3 full bathrooms across three floors, with a custom kitchen and living areas incorporating cathedral ceilings, exposed wood beams, and skylights. Additional highlights include a custom antique bar, wainscoting along the main staircase with a preserved original banister, and a private deck with composite decking. A first-floor bedroom is currently used as a home studio office and includes its own full bathroom. The secondary unit is an oversized one-bedroom, one-bath layout with one-level living on the first floor.
Built in 1874, the property is located in Portland’s West End Historic District and is described as being in-town near shopping, hospitals, and the waterfront. A private courtyard and off-street parking are included, along with the option to use a space for a city garden.
Built in 1874, the property is located in Portland’s West End Historic District and is described as being in-town near shopping, hospitals, and the waterfront. A private courtyard and off-street parking are included, along with the option to use a space for a city garden.
Key Highlights
- Built in 1874, 2,634 SF two‑unit residence in Portland’s West End (Historic District) with proven Airbnb operation
- Primary home offers 4 bedrooms plus an office and 3 full bathrooms across three floors
- Main living space features cathedral ceilings, exposed wood beams, skylights, and a custom kitchen
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.1k | $27.00 |
| − Vacancy | −$4.6k | −$1.76 |
| EGI | $66.5k | $25.25 |
| − OpEx | −$19.9k | −$7.57 |
| NOI | $46.5k | $17.67 |
2,634 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$665.0K
$581.8K – $775.8K
NOI $46,547 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$618.6K
$541.3K – $721.8K
NOI $43,305 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$724.0K
$633.5K – $844.6K
NOI $50,677 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Short term rental property - Two-unit residence with cathedral ceilings and skylights plus off-street parking and a private courtyard.
Where is this short term rental property located?
The property is located at 75 Carleton Street Portland, ME.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Built in 1874, 2,634 SF two‑unit residence in Portland’s West End (Historic District) with proven Airbnb operation; Primary home offers 4 bedrooms plus an office and 3 full bathrooms across three floors; Main living space features cathedral ceilings, exposed wood beams, skylights, and a custom kitchen
