31 Alba Street Portland, ME 04103
MULTI_FAMILY - Other - Portland, ME
- Added:
- Jul 10, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 14 at 12:06 pm
Property Features for 31 Alba Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 1, Bathroom 2
- Interior features
- 1st Floor Bedroom
- Basement
- Full
- Standard status
- Active
- Size
- 2,424 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7227
Utilities
- Sewer type
- Public Sewer
- Heating system
- Steam, Oil, Natural Gas, Zoned
- Water source
- Public
Building Details
- Year built
- 1870
- Number of units
- 2
- Flooring type
- Hardwood
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Amy Sheehan (207) 214-3763
Listing office Keller Williams Realty 50 Sewall Street, Portland, ME (207) 879-9800
Listing date Jul 10, 2026
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.
The property includes a backyard, ample off-street parking, and a two-car garage. It is located in the Deering neighborhood on a beautiful, tree-lined street, just moments from local schools and neighborhood shopping.
An unfinished third-floor attic provides expansion potential. Updates throughout the property enhance comfort and functionality.
Key Highlights
- Two‑unit property built in 1870 with wood‑frame construction and vinyl siding
- Each unit features 3 bedrooms with spacious kitchens and dining areas plus hardwood flooring
- Heating includes steam, oil, natural gas, and zoned heat
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 |
