Building Details

Year Built 1850

Buildings 1

Construction Victorian-Italianate

Listed By: Kathy Gallant Show Phone

Source: Gre207

Added: Oct 16 Changed: Oct 18 Last Checked: Oct 16 at 8:03AM

Report an Issue

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 Kathy Gallant

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Built in 1850, this 3030-square-foot brick residence combines Victorian-Italianate architecture with a potential two-unit layout. The proposed configuration would require adding a wall on the second floor: one unit could occupy the first and second floors, while the other could combine a renovated studio with two third-floor bedrooms. Each unit could have its own kitchen, laundry, and living area. Interior details include 10-foot ceilings, bay windows, decorative fireplaces, original mantels, and extensive moldings. Heat pumps provide heating and cooling, and the property has two off-street parking spaces and an outdoor seating area.

The West End property is near Tandem Coffee, Longfellow Hotel, Wayside Tavern, and the Western Promenade.

Key Highlights

• 3030 square feet in a brick Victorian‑Italianate residence built in 1850
• Potential two‑unit layout requires adding a wall on the second floor
• Proposed units could include two bedrooms each, separate kitchens, laundry, and living areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,815

Cap Rate

3.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$996,300 $996.3K

Cap Rate 7%

$711,643 $711.6K

Cap Rate 9%

$553,500 $553.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,030 SF

Gross rent

$96.4K $31.80/SF

− Vacancy

−$5.8K −$1.91/SF

EGI

$90.6K $29.89/SF

− OpEx

−$40.8K −$13.45/SF

NOI

$49.8K $16.44/SF

Area

Cumberland County, ME

Vacancy

6.00%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$996,300

Cap Rate 7%

$711,643

Cap Rate 9%

$553,500

Alternative Uses

Best Use

Apartment 5plus

$711.6K

$622.7K – $830.3K (±1% cap)

NOI $49,815 @ 7.0% cap · market cap 3.69%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$832.8K

$728.7K – $971.6K (±1% cap)

NOI $58,296 @ 7.0% cap · market cap 4.32%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Residential income properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Auto Parts Store Pet Grooming Service Carpet & Flooring Store Pet Store

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

Location Intelligence

Trade Area within ½ mile

3,626

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

Similar For Sale Nearby

See more

East End Triplex with Water Views

103 Monument Street, Portland, ME 04101

$1,195,000

2,917 SF

View details

Six-Unit Apartment Building

10 Adelaide Street, Portland, ME 04103

$1,325,000

3,530 SF

View details

Triplex with Detached Carriage House

44 William Street, Portland, ME 04103

$997,000

2,935 SF

View details

Four-Unit Quadplex with Decks

224 Valley St, Portland, ME 04102

$985,000

2,911 SF

View details

Three-Unit Property with Private Laundry

19-21 Linden Street, Portland, ME 04103

$899,000

2,982 SF

View details

Three-Unit Multifamily Property

124 Sherman Street, Portland, ME 04101

$789,000

3,030 SF

View details

Brick Triplex with Deck

11 South Street, Portland, ME 04101

$989,000

3,228 SF

View details

Four-Unit Apartment Building

11 Russell Street, Portland, ME 04102

$1,150,000

3,500 SF

View details

Triplex with Private Outdoor Space

33 O'Brion Street, Portland, ME 04101

$1,165,000

3,584 SF

View details

Renovated Triplex with Patio

12 North Street, Portland, ME 04101

$1,122,000

2,557 SF

View details

Two-Unit Duplex with Third Floor

115 Woodford Street, Portland, ME 04103

$785,000

2,840 SF

View details

Two-Unit Townhouse-Style Duplex

5 Merrill Street, Portland, ME 04101

$1,875,000

3,450 SF

View details

Frequently Asked Questions

What type of property is this?

Residential income property - A possible two-unit arrangement includes separate kitchens, laundry facilities, and living areas.

Where is this residential income property located?

The property is located at 77 Carleton St Portland, ME.

What is the asking price?

The asking price for this property is $1,349,000.

What are key features of this property?

This property features: 3030 square feet in a brick Victorian‑Italianate residence built in 1850; Potential two‑unit layout requires adding a wall on the second floor; Proposed units could include two bedrooms each, separate kitchens, laundry, and living areas