This premier multi-unit property offers a strategic blend of stable cash flow and significant value-add potential in the heart of Bangor. The upper level features a reliable, long-term tenant with an exemplary history, while the recently renovated lower level, requiring only minor finishing touches, is perfect for immediate owner-occupancy or a premium rental. Investors will benefit from day-one equity growth as current rents are well below market value and already feature approval for Section 8 increases. Beyond the interior's potential for forced appreciation, the property is situated directly on the natural gas line; converting the current oil-fired boiler to natural gas allows a free hookup from Bangor Gas, drastically reducing overhead and maximizing monthly margins. Unrivaled in convenience, this asset is within walking distance of the Waterfront, the Cross Center, and downtown dining, while sitting on a major bus route. Do not miss this chance to secure a high-performance asset in an optimal location.
Active
$259,900
16 Walter Street, Bangor, ME 04401
4beds
2,008sqft
Multi Family
Built in 1900
-- sqft lot
$251,900 Zestimate®
$129/sqft
$-- HOA
What's special
Recently renovated lower level
- 87 days |
- 375 |
- 14 |
Zillow last checked:
Listing updated:
Listed by:
ERA Dawson-Bradford Co.
Source: Maine Listings,MLS#: 1662774
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Forced Air
Cooling
- None
Features
- Flooring: Wood, Hardwood, Linoleum
- Basement: Interior Entry,Dirt Floor,Full,Sump Pump,Unfinished,Brick/Mortar
Interior area
- Total structure area: 2,008
- Total interior livable area: 2,008 sqft
- Finished area above ground: 2,008
- Finished area below ground: 0
Property
Parking
- Parking features: Common, Gravel, 5 - 10 Spaces
Features
- Stories: 2
- Patio & porch: Deck
Lot
- Size: 3,920 Square Feet
- Features: City Lot, Near Golf Course, Near Turnpike/Interstate, Neighborhood, Level, Sidewalks
Details
- Parcel number: BANGM025L141
- Zoning: Residential
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subtype: Multi Family
Materials
- Wood Frame, Vinyl Siding
- Foundation: Brick/Mortar
- Roof: Shingle
Condition
- Year built: 1900
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Utilities On
Community & HOA
Location
- Region: Bangor
Financial & listing details
- Price per square foot: $129/sqft
- Tax assessed value: $142,800
- Annual tax amount: $3,024
- Date on market: 5/19/2026
- Road surface type: Paved
Estimated market value
$251,900
$239,000 - $264,000
$1,415/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/19/2026 | Listed for sale | $259,900+126%$129/sqft |
Source:  Maine Listings #1662774 Report a problem | ||
| 7/9/2021 | Sold | $115,000-17.9%$57/sqft |
Source: Maine Listings #1492330 Report a problem | ||
| 6/17/2021 | Pending sale | $140,000$70/sqft |
Source: Maine Listings #1492330 Report a problem | ||
| 6/7/2021 | Price change | $140,000-11.9%$70/sqft |
Source: Maine Listings #1492330 Report a problem | ||
| 5/19/2021 | Listed for sale | $159,000$79/sqft |
Source:  Maine Listings #1492330 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,735 | $142,800 |
| 2023 | $2,735 +11.9% | $142,800 +19.2% |
| 2022 | $2,444 +5.8% | $119,800 +15.6% |
| 2021 | $2,310 | $103,600 |
| 2020 | $2,310 +7.1% | $103,600 +10.4% |
| 2019 | $2,157 +6.9% | $93,800 +6.7% |
| 2018 | $2,017 -0.8% | $87,900 -2.5% |
| 2017 | $2,034 | $90,200 -0.2% |
| 2016 | $2,034 +2.5% | $90,400 |
| 2015 | $1,984 +2.3% | $90,400 +1.6% |
| 2014 | $1,940 +4.8% | $89,000 |
| 2013 | $1,851 -8% | $89,000 |
| 2012 | $2,011 +15.7% | $89,000 -1.7% |
| 2011 | $1,738 -18.3% | $90,500 -19% |
| 2009 | $2,128 | $111,700 |
| 2008 | $2,128 +22.9% | $111,700 +25.1% |
| 2006 | $1,732 | $89,300 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 04401
Nearby schools
GreatSchools rating
- 8/10Vine Street SchoolGrades: PK-3Distance: 0.5 mi
- 6/10James F. Doughty SchoolGrades: 6-8Distance: 0.5 mi
- 6/10Bangor High SchoolGrades: 9-12Distance: 2.7 mi
- $--1 bd1 ba-- sqft17 Walter Ct #8, Bangor, ME 04401Off Market
- $279,8006 bd2 ba7k sqft12 Walter St, Bangor, ME 04401Off Market
- $68,5005 bd2 ba1.6k sqft26 Walter St, Bangor, ME 04401Sold
- $207,8003 bd3 ba2.6k sqft9 Walter St, Bangor, ME 04401Off Market
- $220,1004 bd3 ba2.7k sqft20 Walter St, Bangor, ME 04401Off Market
- $--1 bd1 ba-- sqft20 Walter St #2, Bangor, ME 04401Off Market
- $--1 bd1 ba400 sqft17 Walter St #6, Bangor, ME 04401Off Market
- $--1 bd1 ba600 sqft17 Walter St APT 8, Bangor, ME 04401Off Market
A local agent can set up tours, give advice and negotiate with sellers.
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