Two-Unit New Englander
14 Devon Street Portland, ME 04102
New
For Sale
$725,000
MULTI_FAMILY - Other - Portland, ME
Property Size2,487 SF
Lot Size0.27 Acres
Price / SF$291.52
Days on Market5
Property Features for 14 Devon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN3
Bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Patio and Porch features
Porch
Pets allowed
No
Interior features
In-Law Apartment, 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Bathtub, One-Floor Living, Pantry, Shower, Storage
Basement
Full, Unfinished
Standard status
Active
Size
2,487 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8213
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Vinyl, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Fiberglass
Architectural style
Other
Additional Structures
Storage
Listing Agency:
HarborCity Realty
(207) 775-1991
Listed By:
Jean Russo
(207) 776-1816
Added: Jul 25
Changed: Jul 27
Last Checked: Jul 29 at 2:06AM
MLS# 1661185
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This circa 1900 New Englander offers a two-unit duplex configuration and is available for immediate occupancy. The property includes classic residential features and a generous 12,000± square-foot lot. The first-floor unit has two bedrooms, an eat-in kitchen, a living room, and a full bath, and also provides basement access. The second-floor unit (including the third floor) offers two or three bedrooms along with a living room, dining room, and kitchen, plus basement access. The property is being sold as-is, with the seller offering concessions.
The duplex is zoned RN3 and includes ample off-street parking and a two-car garage. The tenant pays for oil and electricity for the first-floor unit, and propane and electricity for the second-floor unit.
The seller notes the smaller first-floor unit previously used as a third unit, and that with City approval it may be able to be used as an ADU or in-law/guest suite, potentially adding two bedrooms and a full bath to the first floor. The seller also notes an additional in-home occupation possibility with City permission. Portland rent control does not apply if purchased by an owner-occupant.
The duplex is zoned RN3 and includes ample off-street parking and a two-car garage. The tenant pays for oil and electricity for the first-floor unit, and propane and electricity for the second-floor unit.
The seller notes the smaller first-floor unit previously used as a third unit, and that with City approval it may be able to be used as an ADU or in-law/guest suite, potentially adding two bedrooms and a full bath to the first floor. The seller also notes an additional in-home occupation possibility with City permission. Portland rent control does not apply if purchased by an owner-occupant.
Key Highlights
- Circa 1900 New Englander 2‑unit property with immediate occupancy and public water and public sewer.
- Multi‑generational/in‑law setup potential: interior features include in‑law apartment plus first‑floor primary and bedroom with bath.
- First‑floor unit has 2 bedrooms, eat‑in kitchen, living room, full bath, and basement access; heated by oil with tenant paying oil and electricity.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.1k | $27.00 |
| − Vacancy | −$4.4k | −$1.76 |
| EGI | $62.8k | $25.25 |
| − OpEx | −$18.8k | −$7.57 |
| NOI | $43.9k | $17.67 |
2,487 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$627.8K
$549.4K – $732.5K
NOI $43,949 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$584.1K
$511.1K – $681.5K
NOI $40,888 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$683.6K
$598.1K – $797.5K
NOI $47,849 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Circa 1900 two-unit duplex with off-street parking and a two-car garage, offered as-is for immediate occupancy.
Where is this duplex located?
The property is located at 14 Devon Street Portland, ME.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Circa 1900 New Englander 2‑unit property with immediate occupancy and public water and public sewer.; Multi‑generational/in‑law setup potential: interior features include in‑law apartment plus first‑floor primary and bedroom with bath.; First‑floor unit has 2 bedrooms, eat‑in kitchen, living room, full bath, and basement access; heated by oil with tenant paying oil and electricity.
