Renovated Duplex with Large
For Sale
$950,000
83 Capisic Street, Portland, ME 04102
Multi-Family, Portland, ME
Property Size2,432 SF
Lot Size0.48 Acres
Price / SF$390.63
Days on Market61
Property Features for 83 Capisic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Interior features
Attic, Bathtub, Shower, Storage
Basement
Unfinished, Walk-Out Access, Full
Lot features
Open, Level, Near Shopping, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
2,432 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7031
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Oil, Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Landmark Realty
(207) 807-7889
Listed By:
Edward Dickhaut IV
(207) 749-0524
Added: Jul 13
Changed: Sep 3
Last Checked: Sep 11 at 9:06PM
MLS# 1671222
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.
Investment Insights
Based on property information with market context.
This renovated duplex contains 2,432 square feet across two townhome-style units, each with 3 bedrooms and 1.5 bathrooms. The property was built in 1945 and has received extensive improvements, including new kitchens, updated bathrooms, tile and refinished wood flooring, heat pumps, plumbing, electrical, insulation, windows, siding, trim, and a shingle roof. A new driveway serves the property.
Set on 0.48 acres, the property includes a large yard and storage areas, with an attic and basement also listed among the interior features. Public water and public sewer serve the building. Located in Portland, Maine, the duplex is near downtown, restaurants, shopping, schools, parks, and major commuter routes.
Set on 0.48 acres, the property includes a large yard and storage areas, with an attic and basement also listed among the interior features. Public water and public sewer serve the building. Located in Portland, Maine, the duplex is near downtown, restaurants, shopping, schools, parks, and major commuter routes.
Key Highlights
- 2,432‑square‑foot duplex with two 3‑bedroom, 1.5‑bathroom units
- Extensive renovation includes kitchens, bathrooms, flooring, systems, windows, siding, and roof
- Oversized 0.48‑acre lot with a large yard and new driveway
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,977
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$859,540
$859.5K
Cap Rate 7%
$613,957
$614.0K
Cap Rate 9%
$477,522
$477.5K
Market Conditions
NOI Build-Up for 2,432 SF
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.
Gross rent
$65.7K $27.00/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$61.4K $25.25/SF
− OpEx
−$18.4K −$7.57/SF
NOI
$43.0K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$859,540
Cap Rate 7%
$613,957
Cap Rate 9%
$477,522
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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,008
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two townhome-style units offer updated interiors, separate living spaces, and public water and sewer service.
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: 2,432‑square‑foot duplex with two 3‑bedroom, 1.5‑bathroom units; Extensive renovation includes kitchens, bathrooms, flooring, systems, windows, siding, and roof; Oversized 0.48‑acre lot with a large yard and new driveway
