Updated Duplex with Private
New
For Sale
$650,000
24 Rowe Avenue, Portland, ME 04102
Two-unit property with remodeled interiors, dedicated outdoor space, storage, and off-street parking.
Property Size1,749 SF
Price / SF$371.64
Days on Market7
Property Features for 24 Rowe Avenue
General Information
Standard status
Active
Size
1,749 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,348
Amenities
in-unit washer/dryer
hardwood floors
updated kitchen and bath
private entrance
basement storage
fiber internet
deck
newly insulated attic
Building Details
Building Size
1,749 SF
Year Built
1903
Buildings
1
Tenancy
Multi
Abandoned
No
Listing Agency:
RE/MAX Shoreline
(207) 653-7224
Listed By:
Harper Collins
(207) 653-7224
Source:
Heathershieldsmaine
Added: Jul 31
Changed: Aug 2
Last Checked: Aug 5 at 4:07AM
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
Investment Insights
Based on property information with market context.
This 1,749-square-foot duplex, built in 1903, includes a first-floor one-bedroom, one-bathroom unit and a separate two-bedroom owner’s unit. The lower residence has an individual entrance, in-unit washer and dryer, hardwood flooring, and updated kitchen and bathroom finishes. A dry, unfinished basement provides additional storage. The upper unit offers a large living room, dining room, remodeled bathroom, hardwood floors, a kitchen, deck, and natural light. The attic and basement have been newly insulated.
The property includes a two-car driveway and additional street parking. Heat, water, and sewer are included, and fiber internet is available. The home is adjacent to the Fore River Sanctuary trail system and Jewell Falls, with access to 6 miles of hiking and mountain biking trails. It is also near Sinful Kitchen, Rock Row shopping center, schools, I-95, downtown Portland, Westbrook, the airport, hospitals, and shopping.
The property includes a two-car driveway and additional street parking. Heat, water, and sewer are included, and fiber internet is available. The home is adjacent to the Fore River Sanctuary trail system and Jewell Falls, with access to 6 miles of hiking and mountain biking trails. It is also near Sinful Kitchen, Rock Row shopping center, schools, I-95, downtown Portland, Westbrook, the airport, hospitals, and shopping.
Key Highlights
- 1,749 SF duplex built in 1903
- First‑floor 1BR/1BA unit with private entrance and in‑unit washer/dryer
- Two‑bedroom owner’s unit with remodeled bath, hardwood floors, kitchen, and 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
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
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 property with remodeled interiors, dedicated outdoor space, storage, 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 $650,000.
What are key features of this property?
This property features: 1,749 SF duplex built in 1903; First‑floor 1BR/1BA unit with private entrance and in‑unit washer/dryer; Two‑bedroom owner’s unit with remodeled bath, hardwood floors, kitchen, and deck
