Renovated Two-Unit
For Sale
$275,000
93 Parkview Ave, Bangor, ME 04401
Two residences offer separate laundry facilities, interior storage, and distinct living spaces.
Property Size2,100 SF
Price / SF$130.95
Days on Market9
Property Features for 93 Parkview Ave
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,671
Amenities
washer/dryer
interior storage
Building Details
Buildings
1
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 942-6711
Listed By:
Venise Bard
(207) 745-3555
Source:
Exprealty
Added: Sep 11
Changed: Sep 17
Last Checked: Sep 18 at 8:30AM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This 2,100-square-foot duplex contains two two-bedroom residences, each with a full bathroom and dedicated interior storage. Both units have been renovated and maintained. The first-floor home includes an eat-in kitchen, a large living room, and a full-size washer and dryer in the bathroom. The upper residence adds roofline character, views toward the park, and its own laundry setup in the basement.
The property is positioned across from Chapin Park in Bangor, with access to hospitals, schools, shopping, and Downtown Bangor. The two-level layout provides distinct living areas and separate laundry arrangements within the building.
The property is positioned across from Chapin Park in Bangor, with access to hospitals, schools, shopping, and Downtown Bangor. The two-level layout provides distinct living areas and separate laundry arrangements within the building.
Key Highlights
- 2,100‑square‑foot duplex with two two‑bedroom units
- Each residence includes a full bathroom and dedicated interior storage
- Both units have been renovated and maintained
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
$19,245
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
7.00%
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%
$384,900
$384.9K
Cap Rate 7%
$274,929
$274.9K
Cap Rate 9%
$213,833
$213.8K
Market Conditions
NOI Build-Up for 2,100 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
$29.0K $13.80/SF
− Vacancy
−$1.5K −$0.71/SF
EGI
$27.5K $13.09/SF
− OpEx
−$8.2K −$3.93/SF
NOI
$19.2K $9.16/SF
Area
Penobscot County, ME
Vacancy
5.13%
Lease Rate
$13.80 /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%
$384,900
Cap Rate 7%
$274,929
Cap Rate 9%
$213,833
Alternative Uses
Best Use
Multifamily LT 5
$274.9K
$240.6K – $320.8K
NOI $19,245 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$252.9K
$221.3K – $295.0K
NOI $17,701 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$678.2K
$593.5K – $791.3K
NOI $47,477 @ 7.0% cap · market cap 17.26%
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
1,911
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
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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 residences offer separate laundry facilities, interior storage, and distinct living spaces.
Where is this duplex located?
The property is located at 93 Parkview Ave Bangor, ME.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,100‑square‑foot duplex with two two‑bedroom units; Each residence includes a full bathroom and dedicated interior storage; Both units have been renovated and maintained
