Three-Unit Residential
For Sale
$699,000
79 James Street, Saco, ME 04072
Three apartments offer a varied bedroom mix, with unfinished third-floor space and rear outdoor area.
Property Size3,074 SF
Price / SF$227.39
Days on Market13
Property Features for 79 James Street
General Information
Standard status
Active
Size
3,074 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
3
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Vitalius Real Estate Group,LLC
Listed By:
Briton Vitalius
(207) 318-2555
Source:
Greatislandrealty
Added: Oct 20
Changed: Oct 31
Last Checked: Nov 1 at 6:05AM
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 Vitalius Real Estate Group,LLC
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Investment Insights
Based on property information with market context.
This 3,074-square-foot residential building contains three apartments: one with two bedrooms and one bathroom, one with three bedrooms and one bathroom, and one with two bedrooms and one-and-a-half bathrooms. Unfinished space on the third floor provides additional interior area, while a striped parking lot and usable outdoor space are located at the rear. The building dates to 1900.
The property is at 79 James Street in Saco, within walking distance of schools, downtown and parks.
The property is at 79 James Street in Saco, within walking distance of schools, downtown and parks.
Key Highlights
- Three apartments: 2BR/1BA, 3BR/1BA, and 2BR/1.5BA
- 3,074 square feet; built in 1900
- Unfinished third‑floor area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,038
Cap Rate
7.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,040,760
$1.0M
Cap Rate 7%
$743,400
$743.4K
Cap Rate 9%
$578,200
$578.2K
Market Conditions
NOI Build-Up for 3,074 SF
Gross rent
$78.2K $25.44/SF
− Vacancy
−$3.9K −$1.26/SF
EGI
$74.3K $24.18/SF
− OpEx
−$22.3K −$7.25/SF
NOI
$52.0K $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 Rate 5%
$1,040,760
Cap Rate 7%
$743,400
Cap Rate 9%
$578,200
Alternative Uses
Best Use
Multifamily LT 5
$743.4K
$650.5K – $867.3K
NOI $52,038 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$678.7K
$593.8K – $791.8K
NOI $47,507 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$974.4K
$852.6K – $1.14M
NOI $68,211 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
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Business Placement
Demographics for 04072, ME
20,381
Population
9,619
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
96%
High-School Grad
38.6 sq mi
ZIP Area
528
Density / Sq Mi
$84,328
Median Household Income
$47,419
Median Earnings
$1,268
Median Rent
$370,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer a varied bedroom mix, with unfinished third-floor space and rear outdoor area.
Where is this triplex located?
The property is located at 79 James Street Saco, ME.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three apartments: 2BR/1BA, 3BR/1BA, and 2BR/1.5BA; 3,074 square feet; built in 1900; Unfinished third‑floor area
