Two-Unit Colonial Duplex with
New
For Sale
$650,000
24 Rowe Avenue, Portland, ME 04102
MULTI_FAMILY - Colonial - Portland, ME
Property Size1,749 SF
Lot Size0.13 Acres
Price / SF$371.64
Days on Market3
Property Features for 24 Rowe Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking features
Off Street
Patio and Porch features
Porch, Deck
Pets allowed
No
Interior features
1st Floor Bedroom, Shower, Storage
Basement
Full, Unfinished
Lot features
Well Landscaped, Open, Corner Lot, Level, Wooded, Near Shopping, Near Turnpike/ Interstate, Near Town, Neighborhood, Suburban, Near Public Transit, Near Railroad
Standard status
Active
Size
1,749 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6348
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating)
Water source
Public
Amenities
in-unit washer/dryer
hardwood floors
updated kitchen
updated bath
private entrance
dry unfinished basement
fiber internet
deck
newly insulated attic
Building Details
Year built
1903
Floors in Building
3
Number of units
2
Flooring type
Wood, Laminate
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Colonial
Additional Structures
Storage
Listing Agency:
RE/MAX Shoreline · RE/MAX International
(207) 553-7500
Listed By:
Harper Collins
(207) 653-7224
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 1 at 7:06PM
MLS# 1674191
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.
Two-unit Colonial duplex on a 0.13-acre lot with construction of wood frame and wood siding. The first floor (1BR/1BA) includes an in-unit washer/dryer, hardwood floors, an updated kitchen and bath, and a private entrance. The dry, unfinished basement provides storage, and the property includes public water and public sewer. Heating and water are described as included, and fiber internet is available. Interior features include storage, a 1st floor bedroom, and shower.
The second unit is an owner’s unit with a large living area, dining room, completely remodeled bathroom, two bedrooms, and a kitchen with its own deck. Flooring includes wood and laminate, with oil hot water heat and a shingle roof. Parking is off street with a driveway for two cars plus ample street parking.
Set on a quiet residential street, the property is at the doorstep of the Fore River Sanctuary trail system and Jewell Falls, with access to 6 miles of hiking and mountain biking trails. It’s near Rock Row shopping, schools, and quick I-95 access for trips to downtown Portland or Westbrook, the airport, hospitals, and shopping.
The second unit is an owner’s unit with a large living area, dining room, completely remodeled bathroom, two bedrooms, and a kitchen with its own deck. Flooring includes wood and laminate, with oil hot water heat and a shingle roof. Parking is off street with a driveway for two cars plus ample street parking.
Set on a quiet residential street, the property is at the doorstep of the Fore River Sanctuary trail system and Jewell Falls, with access to 6 miles of hiking and mountain biking trails. It’s near Rock Row shopping, schools, and quick I-95 access for trips to downtown Portland or Westbrook, the airport, hospitals, and shopping.
Key Highlights
- Two‑unit Colonial duplex with separate private entrance for the first‑floor unit
- First floor (1BR/1BA) with in‑unit washer/dryer, updated kitchen and bath, and hardwood floors
- Owner’s unit with two bedrooms and remodeled bath, plus a kitchen deck
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 | $47.2k | $27.00 |
| − Vacancy | −$3.1k | −$1.76 |
| EGI | $44.2k | $25.25 |
| − OpEx | −$13.2k | −$7.57 |
| NOI | $30.9k | $17.67 |
1,749 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$441.5K
$386.3K – $515.1K
NOI $30,907 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$410.8K
$359.4K – $479.3K
NOI $28,755 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$480.7K
$420.6K – $560.8K
NOI $33,650 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit Colonial duplex in RN1 zoning with in-unit washer/dryer, remodeled spaces, and a deck, plus 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 $650,000.
What are key features of this property?
This property features: Two‑unit Colonial duplex with separate private entrance for the first‑floor unit; First floor (1BR/1BA) with in‑unit washer/dryer, updated kitchen and bath, and hardwood floors; Owner’s unit with two bedrooms and remodeled bath, plus a kitchen deck
