Two-Unit Residential Income
115 Woodford Street Portland, ME 04103
For Sale
$825,000
Well-maintained two-unit building features double-width driveway parking for four cars and shared-level granite kitchens.
Property Size2,840 SF
Price / SF$290.49
Days on Market81
Property Features for 115 Woodford Street
General Information
Standard status
Active
Size
2,840 SF
Property subtype
Multi-family
Building Details
Year Built
1870
Listing Agency:
Legacy Properties Sotheby's International Realty
Listed By:
Mary Jo Cross
(603) 433-3350
Source:
Greatislandrealty
Added: May 10
Changed: Jul 25
Last Checked: Jul 28 at 10:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Legacy Properties Sotheby's International Realty
Investment Insights
Based on property information with market context.
Well situated two-unit residential income duplex with a double-width driveway that comfortably parks 4 cars. The property has been very well maintained and was owner-occupied until early this year. Both units include bamboo wood flooring and granite kitchens, and there is a third floor that can serve as a home office or support other possible uses.
The building is very close to the Boulevard and other urban amenities, supporting convenient access to surrounding services.
With its two finished units and additional third-floor flexible space, the property offers a practical owner-occupied setup or income-focused configuration within a maintained multifamily structure.
The building is very close to the Boulevard and other urban amenities, supporting convenient access to surrounding services.
With its two finished units and additional third-floor flexible space, the property offers a practical owner-occupied setup or income-focused configuration within a maintained multifamily structure.
Key Highlights
- 2‑unit building built in 1870, with double‑width driveway that parks 4 cars
- Both units feature bamboo wood flooring
- Each unit includes a granite kitchen
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 | $76.7k | $27.00 |
| − Vacancy | −$5.0k | −$1.76 |
| EGI | $71.7k | $25.25 |
| − OpEx | −$21.5k | −$7.57 |
| NOI | $50.2k | $17.67 |
2,840 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$717.0K
$627.3K – $836.5K
NOI $50,187 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$667.0K
$583.6K – $778.2K
NOI $46,691 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$780.6K
$683.0K – $910.7K
NOI $54,640 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit building features double-width driveway parking for four cars and shared-level granite kitchens.
Where is this duplex located?
The property is located at 115 Woodford Street Portland, ME.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 2‑unit building built in 1870, with double‑width driveway that parks 4 cars; Both units feature bamboo wood flooring; Each unit includes a granite kitchen
