Positioned in Portland's desirable Parkside Neighborhood, 142 Sherman Street is a fully occupied four-unit investment property offering stable in-place income in one of the city's most sought-after residential neighborhoods. The property benefits from a walkable location just minutes from downtown, the Peninsula, and major commuter routes. The building features a functional unit mix with consistent occupancy, supported by strong rental demand in the surrounding area. The property has been well maintained and improved over time, with a series of updates to both unit interiors and key building systems, contributing to overall efficiency, condition, and long-term reliability. Tenants enjoy convenient access to local shops, restaurants, and services, supporting strong retention and continued demand.
Parkside, located between Deering Oaks Park and the Arts District, is a residential and artsy Portland neighborhood with a leafy park edge and a grid of classic apartment blocks. The neighborhood’s character concentrates along Congress Street near the Portland Museum of Art, where galleries, coffee counters, and small restaurants set a steady street rhythm. The State Theatre, Portland Museum of Art, and Tandem Coffee + Bakery act as cultural pillars with regular foot traffic. Brick multifamily buildings and restored Victorians line side streets, with pocket gardens and stoops shaping the streetscape. Deering Oaks adds ballfields, paths, and seasonal events that pull daily routines outdoors. A walkable layout links local studios, corner markets, and transit stops without losing a lived-in feel.
Provided by Walk Score and Local Logic
Market insights
142 Sherman St · $949,000
DAYS ON MARKET
127 days
The average home goes pending in 18 days.
SALE-TO-LIST
99.4%
Most homes are selling 1% below list price.
LIST PRICE
$949,000
Median list price in this area is $887,344. (6% lower than this home)
PRICE DROP
0 price drops
21% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bedroom
Living
Interior features
Carpet, laminate and wood flooring
Finished daylight basement with interior (doghouse) entry
Bedrooms
Three 3-bedroom units and one 2-bedroom unit (units on Basement, First, Second and Third levels)
Bathrooms
Four full bathrooms total; each unit has one full bathroom
Kitchen
All units include a refrigerator
Laundry & utility
Each unit has a dedicated water heater
Dedicated electric and gas meters for every unit
Flooring
Carpet
Laminate
Wood
Heating & cooling
Has heating: baseboard, direct vent heater and hot water
Electric system with circuit breakers and fuses
Exterior features
Intown location with sidewalks
Paved road frontage
Home design
Multi-level building (four residential levels described)
Zoning: R7
Parking
Paved parking with space for 5–10 vehicles
Construction
Wood frame construction
Shingle roof
Originally built in 1889
Utilities
Public water
Public sewer
Financial info
Total of 4 units (3 × 3-bedroom, 1 × 2-bedroom)
Reported gross income and operating expense (financial details provided)
Other
Total building area approximately 3,578 square feet
Lot described as 0.12 acres (public records)
Electricity and solar
View estimated energy costs and solar savings for this home
Excellent investment or owner occupied 4 unit. Solid rental history with off street parking. Many updates including newer deck, windows, & heating systems.
MREIS #1033307
Oct 22, 2011
Listed
$439,900
$123/sq ft
Year
Property tax
Land + Additions
Assessment*
2024
$9,758 (+4.2%)
$143,000 + $507,100
$650,100
2023
$9,368 (+5.9%)
$143,000 + $507,100
$650,100
2022
$8,848 (+4.8%)
$143,000 + $507,100
$650,100
2021
$8,445 (+13.7%)
$143,000 + $507,100
$650,100
2020
$7,427
$68,100 + $250,500
$318,600
2019
$7,427 (+3.7%)
$68,100 + $250,500
$318,600
2018
$7,162 (+3.8%)
$68,100 + $250,500
$318,600
2017
$6,898 (+2.6%)
$68,100 + $250,500
$318,600
2016
$6,726 (+2.3%)
$68,100 + $250,500
$318,600
2015
$6,573 (+3.2%)
$68,100 + $250,500
$318,600
2014
$6,372
$68,100 + $250,500
$318,600
Public record
Public record
Zoning
Beds
11
Baths
4
Stories
2
Lot width
—
Lot depth
—
Lot size
5,227 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
2,678
Unfinished Sq. Ft.
—
Total Sq. Ft.
2,678
Year built
1889
Style
Multi-Family (5+ Unit)
County
Cumberland County
APN
113993
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 27, 2026.
R6
Residential
To set aside areas on the peninsula for housing characterized primarily by multi-family dwellings at a high density providing a wide range of housing for differing types of households; to conserve the existing housing stock and residential character of neighborhoods by controlling the scale and external impacts of professional offices and other nonresidential uses; and to encourage new housing development consistent with the compact lot development pattern typically found on the peninsula.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Other
Bed & breakfast
Lodging & hospitality-Other
Cemetery
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
5/10 Heat Factor
7 days above 88° expected this year, 19 days in 30 years
6/10 Wind Factor
64% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Portland, ME • 04101
Average low and high temperatures (°F)
31
18
33
18
44
30
52
39
63
49
74
58
79
64
77
60
71
56
61
46
50
36
36
22
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
72/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.8 hrs
2.3 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 142 Sherman St
$925,831
$23K under list price of $949K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $740K to $1.0M.