Updated Duplex with Heat
For Sale
$449,000
8 Piersons Lane, Biddeford, ME 04005
Townhouse-style duplex units each have two bedrooms and a heat pump system for individual heating costs.
Property Size1,920 SF
Price / SF$233.85
Days on Market31
Property Features for 8 Piersons Lane
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-family
Building Details
Year Built
1873
Year Renovated
2020
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Daniel Weber Nicholas Laverriere
(603) 433-3350
Source:
Greatislandrealty
Added: Jul 2
Changed: Jul 30
Last Checked: Aug 1 at 3:05AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This updated duplex features townhouse-style layouts with living space on the first floor and two bedrooms with a full bathroom upstairs. Major improvements completed in 2020 include a new roof, heat pumps, hot water heaters, flooring, and updated kitchens and bathrooms. Each unit has its own heat pump system, allowing tenants to pay their own heating costs.
The property is located within walking distance of Biddeford’s Mill District, providing convenient access to restaurants, breweries, shops, and entertainment while remaining in-town.
Built in 1873, the duplex totals 1,920 SF and is set up to serve both investors and owner-occupants seeking an updated, separately heated arrangement.
The property is located within walking distance of Biddeford’s Mill District, providing convenient access to restaurants, breweries, shops, and entertainment while remaining in-town.
Built in 1873, the duplex totals 1,920 SF and is set up to serve both investors and owner-occupants seeking an updated, separately heated arrangement.
Key Highlights
- Townhouse‑style duplex layout with living area on the first floor and two bedrooms plus a full bath upstairs
- Major improvements completed in 2020: new roof, heat pumps, hot water heaters, flooring, updated kitchens and bathrooms
- Each unit has its own heat pump system so heating costs can be paid by the occupants
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 | $48.8k | $25.44 |
| − Vacancy | −$2.4k | −$1.26 |
| EGI | $46.4k | $24.18 |
| − OpEx | −$13.9k | −$7.25 |
| NOI | $32.5k | $16.93 |
1,920 SF · lease $25.44/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$464.3K
$406.3K – $541.7K
NOI $32,502 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$423.9K
$370.9K – $494.5K
NOI $29,672 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$608.6K
$532.6K – $710.1K
NOI $42,604 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,323
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Townhouse-style duplex units each have two bedrooms and a heat pump system for individual heating costs.
Where is this duplex located?
The property is located at 8 Piersons Lane Biddeford, ME.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Townhouse‑style duplex layout with living area on the first floor and two bedrooms plus a full bath upstairs; Major improvements completed in 2020: new roof, heat pumps, hot water heaters, flooring, updated kitchens and bathrooms; Each unit has its own heat pump system so heating costs can be paid by the occupants
