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    429 Deering Ave Portland, ME 04103

    Sponsored
    For Sale
    $750,000

    Prime Portland Duplex, Owner-User Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This charming two-unit apartment building, located at 429 Deering Avenue in Portland, Maine, presents a compelling investment opportunity for both owner-users and investors. Built in 1916, this three-story structure sits on a 0.13-acre lot and is zoned R5, offering potential for future development. The asking price is $750,000, translating to $375,000 per unit. The property boasts an excellent location and ample off-street parking, a significant advantage for both residents and owners. The existing two units provide immediate income potential, while the unfinished third floor presents a unique opportunity for expansion, allowing for the creation of additional living space or rental units. This presents a chance to increase the property's value and rental income. The property's address is 429 Deering Ave, Portland, ME 04103, situated in Cumberland County. This multifamily property offers a blend of historic charm and modern potential, making it an attractive investment in a desirable Portland location. The property's strong location and potential for expansion make it a rare find in the competitive Portland real estate market. Serious inquiries are encouraged.

    Property Features for 429 Deering Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    5,663 SF

    Building Details

    Year Built
    1916
    Stories
    3
    Units
    2
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Cumberland
    State
    Maine
    Longitude
    -70.28377285
    Latitude
    43.66670657

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    FAQs

    What type of property is this?
    Multifamily property - Prime Portland Duplex, Owner-User Potential
    Where is this multifamily property located?
    The property is located at 429 Deering Ave Portland, ME.
    What is the asking price?
    The asking price for this property is $750,000.
    Request Owner's contact information
    429 Deering Ave Portland, ME 04103
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    Portland, ME 04103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    429 Deering Ave Portland, ME 04103
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