Multifamily Property with Fenced
New
For Sale
$819,900
913 Essex Street, Bangor, ME 04401
MULTI_FAMILY - Other - Bangor, ME
Property Size3,788 SF
Lot Size1.05 Acres
Price / SF$216.45
Days on Market5
Property Features for 913 Essex Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LDR + RR&A
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Bathtub, Pantry, Shower, Storage
Fencing
Fenced
Basement
Crawl Space, Sump Pump, Full
Accessibility
Accessible Approach with Ramp
Lot features
Open, Near Shopping, Near Town, Suburban
Standard status
Active
Size
3,788 SF
Lot size
1.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7997
Utilities
Sewer type
Private Sewer, Septic Tank
Heating system
Zoned, Hot Water(Heating), Baseboard, Oil
Water source
Public
Amenities
fenced backyard
Building Details
Year built
1967
Number of units
1
Flooring type
Laminate, Linoleum, Wood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Tara Roy
(207) 991-8272
Added: Aug 17
Last Checked: Aug 21 at 11:06PM
MLS# 1676494
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 3,788-square-foot multifamily property on 1.05 acres is configured for group-home or supported-living use. The layout includes 8+ bedrooms, three large gathering areas, multiple private staff offices, three full bathrooms, and seven half bathrooms. A long-term tenant is currently in place. The private fenced backyard and ample off-street parking support the existing residential configuration.
Located at 913 Essex Street in Bangor, the property offers access to shopping, services, medical facilities, and major transportation routes. The kitchen was renovated in 2025, and a new boiler was installed in 2024. Additional features include a porch, public water, private sewer with septic tank, and an accessible approach with ramp. Zoning is LDR + RR&A.
Located at 913 Essex Street in Bangor, the property offers access to shopping, services, medical facilities, and major transportation routes. The kitchen was renovated in 2025, and a new boiler was installed in 2024. Additional features include a porch, public water, private sewer with septic tank, and an accessible approach with ramp. Zoning is LDR + RR&A.
Key Highlights
- 3,788 square feet on 1.05 acres at 913 Essex Street, Bangor, ME 04401
- 8+ bedrooms, three large gathering spaces, and multiple private staff offices
- Three full bathrooms and seven half bathrooms
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
$31,929
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
3.89%
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%
$638,580
$638.6K
Cap Rate 7%
$456,129
$456.1K
Cap Rate 9%
$354,767
$354.8K
Market Conditions
NOI Build-Up for 3,788 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
$61.4K $16.20/SF
− Vacancy
−$3.3K −$0.87/SF
EGI
$58.1K $15.33/SF
− OpEx
−$26.1K −$6.90/SF
NOI
$31.9K $8.43/SF
Area
Penobscot County, ME
Vacancy
5.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$638,580
Cap Rate 7%
$456,129
Cap Rate 9%
$354,767
Alternative Uses
Best Use
Apartment 5plus
$456.1K
$399.1K – $532.2K
NOI $31,929 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,639 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 04401, ME
44,608
Population
20,932
Households
2.1
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
100.1 sq mi
ZIP Area
446
Density / Sq Mi
$66,136
Median Household Income
$40,863
Median Earnings
$1,048
Median Rent
$229,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Configured for supported living, the property combines extensive common areas with staff offices and updated mechanical systems.
Where is this multifamily property located?
The property is located at 913 Essex Street Bangor, ME.
What is the asking price?
The asking price for this property is $819,900.
What are key features of this property?
This property features: 3,788 square feet on 1.05 acres at 913 Essex Street, Bangor, ME 04401; 8+ bedrooms, three large gathering spaces, and multiple private staff offices; Three full bathrooms and seven half bathrooms
