31 Alba Street Portland, ME 04103
Two-unit duplex features 3-bedroom layouts, hardwood living spaces, off-street parking, a two-car garage, and an unfinished attic.
- 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
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Investment Insights
Based on property information with market context.
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 |