Turnkey 5-Unit Investment with Strong Cash Flow in One of Southern Maine's Fastest-Growing Markets
An outstanding opportunity to acquire a fully occupied 5-unit multifamily property in the heart of downtown Biddeford. Producing $8,995 per month ($107,940 annually) in gross rental income, this property offers investors immediate cash flow with a projected NOI of approximately $85,400, including an 8% professional management allowance, and an attractive 9.2% cap rate at the current asking price.
Each apartment offers spacious two-bedroom layouts that continue to see strong rental demand in Biddeford's thriving housing market. Public water and sewer, low owner-paid utility expenses, and professionally analyzed operating numbers make this an ideal addition to any investment portfolio.
Located just minutes from Main Street, residents enjoy easy access to restaurants, breweries, shopping, the Amtrak Downeaster, UNE, beaches, and the Biddeford RiverWalk. With continued redevelopment and investment throughout downtown, Biddeford remains one of Maine's strongest rental markets.
Investment Highlights
- Five-unit multifamily building
- Current monthly rent roll: $8,995
- Annual gross scheduled rent: $107,940
- Estimated NOI: $85,429
- Approximate 9.24% cap rate
- Strong 1.32 DSCR under conservative financing assumptions
- Public water & public sewer
- Excellent long-term investment in a high-demand rental location
- Opportunity for future rent growth while benefiting from immediate income
Whether you're completing a 1031 exchange, expanding an existing portfolio, or entering Southern Maine's multifamily market, 79 Hill Street delivers the combination of stable income, attractive returns, and long-term appreciation potential that investors are searching for.
Pending
$925,000
79 Hill Street, Biddeford, ME 04005
10beds
5,524sqft
Multi Family
Built in 1900
-- sqft lot
$-- Zestimate®
$167/sqft
$-- HOA
What's special
Spacious two-bedroom layouts
- 68 days
- 77
- 1
Zillow last checked:
Listing updated:
Listed by:
Keller Williams Realty
Source: Maine Listings,MLS#: 1673689
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 5
- Full bathrooms: 5
Heating
- Radiator
Cooling
- None
Features
- 1st Floor Bedroom
- Flooring: Laminate, Tile, Vinyl, Wood
- Windows: Double Pane Windows, Storm Window(s)
- Basement: Exterior Entry,Interior Entry,Walk-Out Access,Crawl Space,Full,Unfinished
Interior area
- Total structure area: 5,524
- Total interior livable area: 5,524 sqft
- Finished area above ground: 5,524
- Finished area below ground: 0
Property
Parking
- Parking features: No Driveway, None
Features
- Levels: Multi/Split
- Stories: 3
Lot
- Size: 6,098 Square Feet
- Features: City Lot, Near Shopping, Near Railroad, Corner Lot, Sidewalks
Details
- Parcel number: BIDDM39L170
- Zoning: R2
- Other equipment: Cable, Dial-Up, DSL, Internet Access Available
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- 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
Community & HOA
Location
- Region: Biddeford
Financial & listing details
- Price per square foot: $167/sqft
- Tax assessed value: $630,200
- Annual tax amount: $9,560
- Date on market: 7/27/2026
- Listing terms: 1031 Exchange,Cash
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/21/2026 | Pending sale | $925,000$167/sqft |
Source: | ||
| 7/27/2026 | Listed for sale | $925,000+125.7%$167/sqft |
Source: | ||
| 5/28/2025 | Sold | $409,900$74/sqft |
Source: | ||
| 4/18/2025 | Pending sale | $409,900$74/sqft |
Source: | ||
| 4/10/2025 | Listed for sale | $409,900+39.1%$74/sqft |
Source: | ||
| 3/27/2020 | Sold | $294,700-26%$53/sqft |
Source: | ||
| 1/3/2020 | Price change | $398,500-3.7%$72/sqft |
Source: RE/MAX Realty One #1439456 Report a problem | ||
| 11/20/2019 | Listed for sale | $414,000$75/sqft |
Source: RE/MAX Realty One #1439456 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $8,961 +8.4% | $630,200 |
| 2023 | $8,268 +6.8% | $630,200 +33.6% |
| 2022 | $7,741 +5.9% | $471,700 +17.6% |
| 2021 | $7,312 -8.1% | $401,100 +1% |
| 2020 | $7,960 +0.4% | $397,000 |
| 2019 | $7,932 +1.4% | $397,000 |
| 2018 | $7,821 +11.7% | $397,000 +13.8% |
| 2017 | $7,004 +1.1% | $349,000 |
| 2016 | $6,931 +2% | $349,000 |
| 2015 | $6,795 +2.5% | $349,000 |
| 2014 | $6,628 +6.7% | $349,000 -1.6% |
| 2013 | $6,214 +19.2% | $354,500 |
| 2010 | $5,211 -6.6% | $354,500 +21.1% |
| 2006 | $5,578 | $292,800 |
Find assessor info on the county website
Monthly payment
Est. payment








