Two-Unit Duplex with Off-Street
For Sale
$480,000
526 Washington Avenue, Portland, ME 04103
An 1,866-square-foot residential property offers two units and off-street parking in Portland.
Property Size1,866 SF
Price / SF$257.23
Days on Market31
Property Features for 526 Washington Avenue
General Information
Standard status
Active
Size
1,866 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,228
Building Details
Building Size
1,866 SF
Year Built
1935
Buildings
1
Listing Agency:
Vitalius Real Estate Group, LLC
Listed By:
Briton Vitalius
(207) 541-3755
Source:
Oceanviewproperties
Added: Oct 7
Changed: Nov 5
Last Checked: Nov 5 at 9:30AM
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 Vitalius Real Estate Group, LLC
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Investment Insights
Based on property information with market context.
This 1,866-square-foot duplex contains two residential units and includes off-street parking. Built in 1935, the property is located on Washington Avenue in Portland.
The property is near the Roux Institute campus, downtown Portland, Back Cove, restaurants, breweries, and I-295. It is also situated in the East Deering and Bayside neighborhoods.
The property is near the Roux Institute campus, downtown Portland, Back Cove, restaurants, breweries, and I-295. It is also situated in the East Deering and Bayside neighborhoods.
Key Highlights
- Two‑unit residential building
- 1,866 square feet
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,975
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,500
$659.5K
Cap Rate 7%
$471,071
$471.1K
Cap Rate 9%
$366,389
$366.4K
Market Conditions
NOI Build-Up for 1,866 SF
Gross rent
$50.4K $27.00/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$47.1K $25.25/SF
− OpEx
−$14.1K −$7.57/SF
NOI
$33.0K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,500
Cap Rate 7%
$471,071
Cap Rate 9%
$366,389
Alternative Uses
Best Use
Multifamily LT 5
$471.1K
$412.2K – $549.6K
NOI $32,975 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$438.3K
$383.5K – $511.3K
NOI $30,678 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$512.9K
$448.8K – $598.4K
NOI $35,901 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,493
Businesses Nearby
Explore this area
Business Placement
Demographics for 04103, ME
31,185
Population
14,336
Households
2.2
Avg Household Size
40
Median Age
58%
College-Educated
97%
High-School Grad
10.2 sq mi
ZIP Area
3,057
Density / Sq Mi
$90,682
Median Household Income
$48,640
Median Earnings
$1,571
Median Rent
$421,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Portland, ME
Properties on Market for Duplexes in Portland
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - An 1,866-square-foot residential property offers two units and off-street parking in Portland.
Where is this duplex located?
The property is located at 526 Washington Avenue Portland, ME.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Two‑unit residential building; 1,866 square feet; Off‑street parking
