Duplex with Third-Floor
New
For Sale
$410,000
8 Pope Street, Gardiner, ME 04345
Multi-Family, Gardiner, ME
Property Size2,016 SF
Lot Size0.20 Acres
Price / SF$203.37
Days on Market2
Property Features for 8 Pope Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
High Density Residen
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Patio and Porch features
Deck
Interior features
In-Law Apartment, 1st Floor Bedroom, Shower, Storage
Basement
Walk-Out Access, Full, Unfinished, Dirt Floor
Lot features
Open, Level, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood
Standard status
Active
Size
2,016 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2801
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Oil, Other (Heating), Propane (Heating)
Water source
Public
Water front features
Stream
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Flooring type
Laminate, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Buildings
1
Listing Agency:
Hoang Realty
(207) 623-0623
Listed By:
Tammy Densmore
(207) 485-1171
Added: Oct 27
Last Checked: Oct 28 at 1:06AM
MLS# 1685919
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1890, this 2,016-square-foot duplex contains two apartments, each with a kitchen, two bedrooms, and a full bathroom. The third floor has additional space and a half bath; use as another rental unit would require City approval. Basement improvements include replacement windows, spray-foamed walls, and a vapor barrier over the dirt floor. The furnace is approximately 10 years old.
The 0.2-acre property is within walking distance of downtown, shopping, the high school, the Boys & Girls Club, and the Kennebec Riverfront. It has public water and sewer service, a deck, and a stream feature.
The 0.2-acre property is within walking distance of downtown, shopping, the high school, the Boys & Girls Club, and the Kennebec Riverfront. It has public water and sewer service, a deck, and a stream feature.
Key Highlights
- Two apartments, each with two bedrooms, a kitchen, and a full bathroom
- Third‑floor space with a half bath; another rental unit is subject to City approval
- 2,016 square feet on a 0.2‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,514
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,280
$450.3K
Cap Rate 7%
$321,629
$321.6K
Cap Rate 9%
$250,156
$250.2K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$32.7K $16.20/SF
− Vacancy
−$496 −$0.25/SF
EGI
$32.2K $15.95/SF
− OpEx
−$9.6K −$4.79/SF
NOI
$22.5K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$450,280
Cap Rate 7%
$321,629
Cap Rate 9%
$250,156
Alternative Uses
Best Use
Multifamily LT 5
$321.6K
$281.4K – $375.2K
NOI $22,514 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$280.6K
$245.5K – $327.3K
NOI $19,639 @ 7.0% cap · market cap 4.79%
Theoretical Best
Warehouse
$3.01M
$2.63M – $3.51M
NOI $210,537 @ 7.0% cap · market cap 51.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
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Business Placement
Demographics for 04345, ME
12,052
Population
5,562
Households
2.2
Avg Household Size
43
Median Age
29%
College-Educated
97%
High-School Grad
71.7 sq mi
ZIP Area
168
Density / Sq Mi
$68,844
Median Household Income
$42,559
Median Earnings
$956
Median Rent
$208,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments include two bedrooms, a kitchen, and a full bathroom.
Where is this duplex located?
The property is located at 8 Pope Street Gardiner, ME.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms, a kitchen, and a full bathroom; Third‑floor space with a half bath; another rental unit is subject to City approval; 2,016 square feet on a 0.2‑acre lot
