Expertise requested - Southern Maine multifamily market

Portland, Maine
Multi-Family and Apartment Investing
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Expertise requested - Southern Maine multifamily market

Jonathan Hyatt
Member since 2025 路 2 posts 路 0 votes

I'm looking for my first 2-4 unit Multifamily in southern Maine, ideally Lewiston down to Biddeford.  Have looked at many deals on paper, but am hesitant to pull the trigger.  Would love to connect with folks that I've been successful in this area for some guidance on the market, deal evaluation and getting started.  Down payment and investment capital is not the issue.  Thanks all!

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  • William ThompsonBusiness Member
    Accountant 路 Williamstown, NJ 路 Member since 2025 路 320 posts 路 176 votes
    1y

    Great market to start in 馃憣 Biggest thing I see with first multifamily investors isn鈥檛 finding capital鈥攊t鈥檚 structuring the deal and taxes right so the cash flow actually sticks. Happy to share what I鈥檝e seen work in Maine.

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  • Ashley Noel
    Investor 路 ME 路 Member since 2024 路 1 post 路 0 votes
    1y

    Hi Jonathan!

    Recently, HUD provided the FY 2026 Fair Market rents for Lewiston/Auburn. With vacancy under 3%, demand is strong. 1 bd jumped from $994 to $1,218, 2 bds $1268 to $1,586, 3bds $1,663 to $2,050. Current average cap rate for Lewiston is roughly 9-12%. If you're not set on the LA area, I have several off market multi units available in WTVL/Winslow area. Let me know if you'd like to connect further!

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