Three-Unit Residential Income
94 Emery Street Portland, ME 04102
94 Emery Street, Portland, ME, 04102
$871,500
For Sale
$871,500
Three one-bedroom units in a multi-level New Englander with on-site laundry and off-street designated parking for tenants.
Property Size2,413 SF
Price / SF$361.17
Days on Market73
Property Features for 94 Emery Street
General Information
- Standard status
- Active
- Size
- 2,413 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1866
Listing Agency
The Real Estate Store
Listed by
Elizabeth Marks
(603) 866-2942
Source
Profoundrealestate
Added: May 5 Checked: Jul 16 at 12:23 pm
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 The Real Estate Store
Investment Insights
Based on property information with market context.
Built circa 1866, this multi-level New Englander offers three one-bedroom units. The building includes on-site laundry and a spacious parking area with off-street designated parking for all tenants.
The first-floor unit is vacant, which may appeal to an owner-occupant or an investor seeking rental income to help offset expenses. The property has been updated with improvements including heating, a new roof, and utilities split for each unit.
The arrangement provides separate utility setups for the individual units while retaining the building’s historic character.
The first-floor unit is vacant, which may appeal to an owner-occupant or an investor seeking rental income to help offset expenses. The property has been updated with improvements including heating, a new roof, and utilities split for each unit.
The arrangement provides separate utility setups for the individual units while retaining the building’s historic character.
Key Highlights
- Circa 1866 multi‑level New Englander with three 1‑bedroom units on a quiet, tree‑lined street in Portland’s West End
- Updated improvements include heating, roof, and utilities split for each unit
- On‑site laundry for residents
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.2k | $27.00 |
| − Vacancy | −$4.2k | −$1.76 |
| EGI | $60.9k | $25.25 |
| − OpEx | −$18.3k | −$7.57 |
| NOI | $42.6k | $17.67 |
2,413 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$609.2K
$533.0K – $710.7K
NOI $42,641 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$566.7K
$495.9K – $661.2K
NOI $39,671 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$663.2K
$580.3K – $773.8K
NOI $46,425 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three one-bedroom units in a multi-level New Englander with on-site laundry and off-street designated parking for tenants.
Where is this triplex located?
The property is located at 94 Emery Street Portland, ME.
What is the asking price?
The asking price for this property is $871,500.
What are key features of this property?
This property features: Circa 1866 multi‑level New Englander with three 1‑bedroom units on a quiet, tree‑lined street in Portland’s West End; Updated improvements include heating, roof, and utilities split for each unit; On‑site laundry for residents
