Back to Search
Two-Unit Residential Income Duplex

31 Alba Street Portland, ME 04103

Claim this Listing
For Sale
$719,000

Two-unit duplex features 3-bedroom layouts, hardwood living spaces, off-street parking, a two-car garage, and an unfinished attic.

Type:Multi-family
Property size:
2,424 SF
Price / SF:
$296.62/SF
Added:
May 12, 2026
Days on Market:
64
Last Refresh:
Jul 9 at 2:52 am

Property Features for 31 Alba Street

General Information

Standard status
Active
Size
2,424 SF
Property subtype
Multi-family

Building Details

Year Built
1870

Listing office Keller Williams Realty

Listing date May 12, 2026

Source Profoundrealestate

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 Keller Williams Realty


Investment Insights

Based on property information with market context.

This well-maintained two-unit duplex offers two separate residences, each featuring three bedrooms along with spacious kitchens and dining areas and sun-filled living rooms with hardwood flooring. The first-floor unit includes a recently updated third bedroom that has been converted into a laundry room, as well as an updated bathroom with a large walk-in shower. The second-floor unit mirrors the first unit with a recently updated bathroom and a spare room used as a workout room.

The property includes a backyard, ample off-street parking, and a two-car garage. An unfinished third-floor attic provides additional expansion possibilities, supported by the existing third-floor space.

With thoughtful updates throughout and independent two-unit configuration, the home is well suited for owner-occupancy, multigenerational living, or rental income.

Key Highlights

  • Two‑unit duplex built in 1870, with each unit offering 3 bedrooms, spacious kitchens, dining areas, and sun‑filled living rooms.
  • Hardwood flooring and abundant natural light throughout the living spaces.
  • First‑floor unit includes a recently updated third bedroom converted to a laundry room and a bathroom with a large walk‑in shower.

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 $65.4k $27.00
− Vacancy −$4.3k −$1.76
EGI $61.2k $25.25
− OpEx −$18.4k −$7.57
NOI $42.8k $17.67
2,424 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$611.9K
$535.5K – $713.9K (±1% cap)
NOI $42,836 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$569.3K
$498.2K – $664.2K (±1% cap)
NOI $39,852 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$666.2K
$583.0K – $777.3K (±1% cap)
NOI $46,637 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Building Supply Electrical Service Garden Center Computer & Electronic Repair HVAC Service Tech Support Center (Bike/Boat/Book/etc) Store Parking Lot & Garage (Bike/Boat/Book/etc) Store Pet Grooming Service

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Duplex - Two-unit duplex features 3-bedroom layouts, hardwood living spaces, off-street parking, a two-car garage, and an unfinished attic.
Where is this duplex located?
The property is located at 31 Alba Street Portland, ME.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1870, with each unit offering 3 bedrooms, spacious kitchens, dining areas, and sun‑filled living rooms.; Hardwood flooring and abundant natural light throughout the living spaces.; First‑floor unit includes a recently updated third bedroom converted to a laundry room and a bathroom with a large walk‑in shower.
Contact an agent
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message