71 1st St Bangor, ME 04401
West Bangor NeighborhoodEstimated payment $2,042/month
Highlights
- Colonial Architecture
- 2 Fireplaces
- Double Pane Windows
- Wood Flooring
- No HOA
- 2-minute walk to Davenport Park
About This Home
**71 First St, Bangor, ME**
Solid 5 unit investment property with the big ticket items already taken care of. The current owner has made major capital improvements, including a new roof, new siding, new windows, and an updated natural gas furnace. These are some of the most expensive items investors typically face with older multifamily properties, giving the next owner a strong foundation from day one.
The building offers a desirable unit mix with two 2 bedroom apartments and three 1 bedroom apartments. All units are currently on month to month leases, creating flexibility for a new owner to improve operations, adjust rents, and increase overall income potential.
While the exterior and major systems have already been addressed, the interiors still offer room for value add improvements. Cosmetic updates to the units could help support higher rents, attract stronger tenants, and create forced appreciation over time. This is a property where the next investor can focus on increasing income instead of immediately replacing major building components.
Located in Bangor with convenient access to downtown, hospitals, shopping, restaurants, and major employers, 71 First Street offers both current rental income and future upside. A strong option for an investor looking for a multifamily asset with completed capital improvements, flexible leases, and a clear path to improved cash flow.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,111
Year Built
- Built in 1900
Lot Details
- 4,792 Sq Ft Lot
- Level Lot
Home Design
- Colonial Architecture
- Stone Foundation
- Wood Frame Construction
- Shingle Roof
- Vinyl Siding
- Masonry
- Stone
Interior Spaces
- 5 Full Bathrooms
- 2,776 Sq Ft Home
- 2-Story Property
- 2 Fireplaces
- Double Pane Windows
- ENERGY STAR Qualified Appliances
Flooring
- Wood
- Laminate
- Vinyl Plank
- Vinyl
Basement
- Interior Basement Entry
- Dirt Floor
Parking
- On-Site Parking
- Off-Street Parking
Accessible Home Design
- Doors are 32 inches wide or more
Location
- Property is near golf course and shops
- City Lot
Utilities
- Window Unit Cooling System
- Heating System Uses Natural Gas
- High-Efficiency Furnace
- Baseboard Heating
- Water Heater
- Cable TV Available
Listing and Financial Details
- Tax Lot 155
Community Details
Overview
- No Home Owners Association
- 5 Units
Building Details
- Operating Expense $23,509
- Gross Income $41,675
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,267 | $184,600 | $11,800 | $172,800 |
| 2024 | $3,111 | $167,700 | $11,800 | $155,900 |
| 2023 | $2,922 | $152,600 | $11,800 | $140,800 |
| 2022 | $2,625 | $128,700 | $11,800 | $116,900 |
| 2021 | $2,609 | $117,000 | $10,900 | $106,100 |
| 2020 | $2,445 | $105,400 | $10,400 | $95,000 |
| 2019 | $2,298 | $99,900 | $10,400 | $89,500 |
| 2018 | $2,059 | $89,700 | $10,100 | $79,600 |
| 2017 | $2,274 | $102,100 | $11,000 | $91,100 |
| 2016 | $2,246 | $99,800 | $11,000 | $88,800 |
| 2015 | $2,191 | $99,800 | $11,000 | $88,800 |
| 2014 | $2,143 | $98,300 | $11,000 | $87,300 |
| 2013 | $2,128 | $102,300 | $11,600 | $90,700 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/19/2026 06/19/26 | For Sale | $324,900 | -- | $117 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $103,200 | Commercial |
Source: Maine Listings
MLS Number: 1668153
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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