Renovated Two-Unit
New
For Sale
$275,000
93 Parkview Avenue, Bangor, ME 04401
Multi-Family, Bangor, ME
Property Size2,100 SF
Lot Size0.09 Acres
Price / SF$130.95
Days on Market2
Property Features for 93 Parkview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
11 URD-1
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Patio and Porch features
Porch
Pets allowed
No
Interior features
1st Floor Bedroom, Bathtub, Storage
Basement
Full, Unfinished
Lot features
Level, Sidewalks, Interior Lot, Intown, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Near Public Transit
Standard status
Active
Size
2,100 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3671
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
in-unit washer/dryer
dedicated storage
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group · Better Homes and Gardens Real Estate
(207) 942-6711
Listed By:
Venise Bard
(207) 745-3555
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 6:06AM
MLS# 1680198
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 2,100-square-foot duplex, built in 1900, contains two renovated residential units arranged across the first and second floors. Each unit includes two bedrooms, a full bathroom, interior storage, and dedicated laundry equipment. The first-floor residence features an eat-in kitchen and a spacious living room, while the upper unit has roofline character and views toward Chapin Park. Wood and vinyl flooring, baseboard heating, natural gas service, a shingle roof, and vinyl siding are among the property’s existing features.
Set on 0.09 acres at 93 Parkview Avenue, the property is located across from Chapin Park and provides access to public water and public sewer. Hospitals, schools, shopping, and Downtown Bangor are identified in the surrounding area. The property is zoned 11 URD-1 and includes a porch along with basement storage and laundry space.
Set on 0.09 acres at 93 Parkview Avenue, the property is located across from Chapin Park and provides access to public water and public sewer. Hospitals, schools, shopping, and Downtown Bangor are identified in the surrounding area. The property is zoned 11 URD-1 and includes a porch along with basement storage and laundry space.
Key Highlights
- 2,100‑square‑foot duplex with two residential units
- Both units offer two bedrooms, a full bathroom, storage, and dedicated laundry
- First‑floor unit includes an eat‑in kitchen and spacious living room
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 - Up-and-down residential property with two bedrooms per unit, private laundry, storage, and public utilities.
Where is this duplex located?
The property is located at 93 Parkview Avenue 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 residential units; Both units offer two bedrooms, a full bathroom, storage, and dedicated laundry; First‑floor unit includes an eat‑in kitchen and spacious living room
