Two-Unit Duplex with Private
For Sale
$624,999
24 Rowe Avenue, Portland, ME 04102
Two distinct residences offer separate layouts, outdoor space, and off-street parking.
Property Size1,749 SF
Price / SF$357.35
Days on Market99
Property Features for 24 Rowe Avenue
General Information
Standard status
Active
Size
1,749 SF
Property subtype
MULTI_FAMILY
Taxes and HOA fees
Annual Taxes
$6,348
Building Details
Building Size
1,749 SF
Year Built
1903
Listing Agency:
RE/MAX Shoreline
Listed By:
Harper Collins
(207) 653-7224
Source:
Oceanviewproperties
Added: Jul 31
Changed: Nov 5
Last Checked: Nov 5 at 9:23AM
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 RE/MAX Shoreline
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,749-square-foot duplex, built in 1903, contains two residences. The first-floor apartment has one bedroom, one bathroom, a private entrance, an updated kitchen and bath, hardwood floors, and an in-unit washer and dryer. Its unfinished basement is described as dry and provides storage. The other residence includes two bedrooms, a remodeled bathroom, a living area, a dining room, and a kitchen with a deck. Hardwood floors have been refinished, and the attic and basement have been insulated.
The property is on a residential street near the Fore River Sanctuary trail system and Jewell Falls. The listing also identifies nearby Sinful Kitchen, Rock Row shopping center, and schools, as well as access to I-95 and routes to downtown Portland, Westbrook, the airport, hospitals, and shopping.
Parking includes a two-car driveway, additional off-street spaces, and street parking. Heat, water, and sewer are included for the first-floor apartment; fiber internet is available.
The property is on a residential street near the Fore River Sanctuary trail system and Jewell Falls. The listing also identifies nearby Sinful Kitchen, Rock Row shopping center, and schools, as well as access to I-95 and routes to downtown Portland, Westbrook, the airport, hospitals, and shopping.
Parking includes a two-car driveway, additional off-street spaces, and street parking. Heat, water, and sewer are included for the first-floor apartment; fiber internet is available.
Key Highlights
- Two residences: a first‑floor 1‑bedroom, 1‑bathroom unit and a 2‑bedroom unit
- 1,749 square feet; built in 1903
- First‑floor unit includes a private entrance and in‑unit washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,907
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,140
$618.1K
Cap Rate 7%
$441,529
$441.5K
Cap Rate 9%
$343,411
$343.4K
Market Conditions
NOI Build-Up for 1,749 SF
Gross rent
$47.2K $27.00/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$44.2K $25.25/SF
− OpEx
−$13.2K −$7.57/SF
NOI
$30.9K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,140
Cap Rate 7%
$441,529
Cap Rate 9%
$343,411
Alternative Uses
Best Use
Multifamily LT 5
$441.5K
$386.3K – $515.1K
NOI $30,907 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$410.8K
$359.4K – $479.3K
NOI $28,755 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$480.7K
$420.6K – $560.8K
NOI $33,650 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Portland, ME
Properties on Market for Duplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences offer separate layouts, outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 24 Rowe Avenue Portland, ME.
What is the asking price?
The asking price for this property is $624,999.
What are key features of this property?
This property features: Two residences: a first‑floor 1‑bedroom, 1‑bathroom unit and a 2‑bedroom unit; 1,749 square feet; built in 1903; First‑floor unit includes a private entrance and in‑unit washer and dryer
