Turnkey Renovated Duplex
83 Capisic Street Portland, ME 04102
For Sale
$950,000
Completely renovated two-unit duplex with new kitchens, updated flooring, and major system upgrades, plus a brand-new driveway.
Property Size2,432 SF
Lot Size0.48 Acres
Price / SF$390.63
Days on Market29
Property Features for 83 Capisic Street
General Information
Standard status
Active
Size
2,432 SF
Lot size
0.48 Acres
Property subtype
Multi-family
Building Details
Year Built
1945
Listing Agency:
Landmark Realty
Listed By:
Edward Dickhaut IV
(603) 433-3350
Source:
Greatislandrealty
Added: Jun 30
Changed: Jul 24
Last Checked: Jul 27 at 9:17PM
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 Landmark Realty
Investment Insights
Based on property information with market context.
Completely renovated two-unit duplex featuring two townhome-style units. Each unit offers 3 bedrooms and 1.5 bathrooms with bright, open living spaces. Interior improvements include brand-new kitchens with updated cabinetry, countertops, and fixtures, updated bathrooms, new tile flooring, and refinished hardwood floors throughout.
Significant exterior and systems work has been completed, including new heat pumps, plumbing, electrical, insulation, windows, siding, trim, and a new roof. The property sits on an oversized lot and includes a brand-new driveway, providing an unusually large yard for an in-town Portland location.
This turnkey residential income property is offered for sale as a duplex at 83/85 Capisic Street, providing an owner with two updated units and an opportunity to manage the property with flexibility for future rental management, including not being subject to Portland’s rent control ordinance.
Significant exterior and systems work has been completed, including new heat pumps, plumbing, electrical, insulation, windows, siding, trim, and a new roof. The property sits on an oversized lot and includes a brand-new driveway, providing an unusually large yard for an in-town Portland location.
This turnkey residential income property is offered for sale as a duplex at 83/85 Capisic Street, providing an owner with two updated units and an opportunity to manage the property with flexibility for future rental management, including not being subject to Portland’s rent control ordinance.
Key Highlights
- Completely renovated two‑unit duplex built in 1945 (83/85 Capisic Street).
- Each townhome‑style unit offers 3 bedrooms and 1.5 bathrooms with bright, open living areas.
- Brand‑new kitchens and updated bathrooms in both units, plus new tile flooring and refinished hardwood floors.
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 | $65.7k | $27.00 |
| − Vacancy | −$4.3k | −$1.76 |
| EGI | $61.4k | $25.25 |
| − OpEx | −$18.4k | −$7.57 |
| NOI | $43.0k | $17.67 |
2,432 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$614.0K
$537.2K – $716.3K
NOI $42,977 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$571.2K
$499.8K – $666.4K
NOI $39,984 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$668.4K
$584.9K – $779.9K
NOI $46,791 @ 7.0% cap · market cap 4.93%
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?
Duplex - Completely renovated two-unit duplex with new kitchens, updated flooring, and major system upgrades, plus a brand-new driveway.
Where is this duplex located?
The property is located at 83 Capisic Street Portland, ME.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Completely renovated two‑unit duplex built in 1945 (83/85 Capisic Street).; Each townhome‑style unit offers 3 bedrooms and 1.5 bathrooms with bright, open living areas.; Brand‑new kitchens and updated bathrooms in both units, plus new tile flooring and refinished hardwood floors.
