Portland Duplex with Attic
605 Washington Avenue, Portland, ME 04103
MULTI_FAMILY - Other - Portland, ME
Property size:
2,612 SFLot size:
0.16 AcresPrice / SF:
$239/SF- Added:
- May 8, 2026
- Days on Market:
- 38
- Last Refresh:
- Jun 14 at 3:06 am
Property Features for 605 Washington Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RN3
- Bathrooms
- 2
- Rooms
- Bathroom 1, Basement, Bathroom 2
- Parking features
- Off Street
- Patio and Porch features
- Deck, Porch
- Interior features
- Bathtub, Shower
- Fencing
- Fenced
- Basement
- Full, Unfinished
- Standard status
- Active
- Size
- 2,612 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7522
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1905
- Number of units
- 2
- Flooring type
- Laminate, Carpet
- Building materials
- Wood Frame, Aluminum Siding, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Karen Edgcombe (207) 523-0198
Listing office Maine Real Estate Co 685 US Route 1, Scarborough, ME (207) 292-1030
Listing date May 8, 2026
MLS# 1635440
Listing URL
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.
HighLights
- Two 4‑bedroom/1‑bath units on Portland’s Washington Ave; each unit is 1,000+ SF with large bedrooms and flexible living/dining layouts
- Full walk‑up attic with two existing staircases offers potential for an additional unit or expanded living space (buyer to verify with the City of Portland)
- Full basement includes blown insulation, washer/dryer hookups, and two newer natural gas wall‑hung boilers
- Nearly completely fenced lot with off‑street parking available
- Year built: 1905; roof is shingle
- Public water and public sewer; exterior includes aluminum and vinyl siding with wood frame construction
Overview
This property on Washington Ave in Portland, ME, presents an investment opportunity with two spacious 4-bedroom, 1-bath units. Each apartment offers over 1,000 square feet of living space, featuring large bedrooms, flexible living/dining layouts, and classic period details. A full walk-up attic, accessible by two existing staircases, offers potential for an additional unit or expanded living space, subject to buyer verification with the City of Portland. The full basement provides storage and utilities, including blown insulation, two newer natural gas wall-hung boilers, and washer/dryer hookups. The garage is in fair condition and provides extra storage. The property includes off-street parking on a nearly completely fenced-in lot. Located in-town, it is close to restaurants, coffee shops, transit options, and parks. A bus stop is conveniently located outside the Washington Avenue entrance. The property is located on a 0.16-acre lot and has 2,612 square feet of space. The property is zoned RN3.
Local 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 | $70.5k | $27.00 |
| − Vacancy | −$4.6k | −$1.76 |
| EGI | $65.9k | $25.25 |
| − OpEx | −$19.8k | −$7.57 |
| NOI | $46.2k | $17.67 |
2,612 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$659.4K
$577.0K – $769.3K
NOI $46,158 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$613.5K
$536.8K – $715.7K
NOI $42,943 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$717.9K
$628.2K – $837.6K
NOI $50,254 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.261042
- Latitude
- 43.682396
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Investment opportunity: spacious units, attic potential, convenient location.
Where is this duplex located?
The property is located at 605 Washington Avenue Portland, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two 4‑bedroom/1‑bath units on Portland’s Washington Ave; each unit is 1,000+ SF with large bedrooms and flexible living/dining layouts; Full walk‑up attic with two existing staircases offers potential for an additional unit or expanded living space (buyer to verify with the City of Portland); Full basement includes blown insulation, washer/dryer hookups, and two newer natural gas wall‑hung boilers
