117 & 115 Park Street, Orono, ME 04473

$525,000

Exceptional income-producing package located just one mile from the University of Maine, offering two fully leased and well-maintained properties in a prime in-town setting. This unique opportunity includes a 2-unit duplex at 117 Park Street (2BR/1BA and 3BR/1BA) along with a 4BR/1BA single-family home at 115 Park Street--ideal for investors seeking strong, consistent cash flow in Orono's high-demand rental market. Extensive capital improvements further enhance long-term value and operational efficiency. At 115 Park Street, updates include a new roof (2024), new boiler (2023), new electrical system (2023), and new appliances (2018). At 117 Park Street, renovations include a complete upstairs gut renovation (2012), full downstairs remodel (2013), new electrical system (2013), new appliances (2013), new vinyl siding and trim (2014), and building envelope upgrades with 1'' foam insulation (2014). These substantial improvements help minimize deferred maintenance and support long-term investment stability. Currently generating $63,600 in gross annual income, the property delivers immediate cash flow with clear upside potential as rents are brought to market rates. In addition to its proximity to the University of Maine, shopping, dining, and everyday amenities, the property is positioned in an area experiencing continued investment and development--including a recently approved Starbucks location by… Read MoreRead Less

Courtesy of NextHome Experience 207-573-7400

Listing Snapshot

Days Online

Last Updated

Mar 1, 2026

Full Baths

Square Ft.

3,385

Lot Size

0.58 Acres

Year Built

1920

MLS Number

1652214

Additional Details

Property Access

Road Surface Type: "Paved"

Basement

Basement: "Interior", "Full", "Sump Pump", "Unfinished"

Building

Architectural Style: "Contemporary", "Colonial", Building Area Total: 3,385, Construction Materials: "Vinyl Siding", "Wood Frame", Number Of Units Total: 3, Year Built: 1920, 2 stories

Cooling

Cooling: "None"

Expenses

Operating Expense: $26,300

Floors

Flooring: "Vinyl", "Laminate", "Carpet"

Heating

Heating: "Hot Water", "Forced Air", "Baseboard", Heating Included

Income

Gross Income: $63,600

Interior Features

Features: "1st Floor Bedroom", "Bathtub", "Shower"

Laundry

Features: "Laundry - 1st Floor", "Main Level", "Laundry - Coin"

Lot

Features: "Open", "Level", "Sidewalks", "Intown", 0.58 acres, Area: 0.58, 25,265 square feet

Parking

Features: "11 - 20 Spaces", "Gravel", "On Site"

Property

Parcel Number: ORON-020001-000000-000040, Zoning: Commercial

Roof

Roof: "Shingle"

Sewer

Sewer: "Public Sewer"

Taxes

Annual Amount: $6,581, Tax Lot: 40, 41

Utilities

Electric: "Circuit Breakers", Water Source: "Public"

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30 Days Snapshot Of 04473

$560k

+63%

(avg) sold price

-66%

home sold

+39%

(avg) days on market

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117 & 115 Park Street

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