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Two-Unit Residential Income Duplex

605 Washington Avenue Portland, ME 04103

Claim this Listing
For Sale
$625,000

Two 4-bedroom, 1-bath units are offered with a full basement, walk-up attic, and off-street parking on a fenced lot.

Type:Multi-family
Property size:
2,612 SF
Price / SF:
$239.28/SF
Added:
Feb 12, 2026
Days on Market:
152
Last Refresh:
Jul 10 at 3:41 am

Property Features for 605 Washington Avenue

General Information

Standard status
Active
Size
2,612 SF
Property subtype
Multi-family

Building Details

Year Built
1905

Listing office Maine Real Estate Co

Listing date Feb 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 Maine Real Estate Co


Investment Insights

Based on property information with market context.

This two-unit residential income duplex features two spacious 4-bedroom, 1-bath apartments, each offering large bedrooms and flexible living/dining layouts with classic period details. A full walk-up attic is served by two existing staircases, which may allow for additional unit space or expanded living (buyer to verify with the City of Portland). The full basement provides storage and houses utilities, including blown insulation, two newer natural gas wall-hung boilers, and washer/dryer hookups.

Outside, the property includes a garage in fair condition and offers lots of off-street parking on a nearly completely fenced lot. The building is described as in-town, close to restaurants, coffee, transit, and parks, with a convenient bus stop noted outside the Washington Avenue entrance.

Overall, the duplex is presented as a solid, value-add opportunity with substantial interior space, including the attic, plus dedicated storage areas and off-street parking.

Key Highlights

  • Two 4‑bedroom, 1‑bath units on Washington Ave, built in 1905
  • Each apartment offers 1,000+ SF with large bedrooms and flexible living/dining layouts
  • Full walk‑up attic with two staircases provides potential for an additional unit or expanded living space (buyer to verify with the City of Portland)

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 $70.5k $27.00
− Vacancy −$4.6k −$1.76
EGI $65.9k $25.25
− OpEx −$19.8k −$7.57
NOI $46.2k $17.67
2,612 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$659.4K
$577.0K – $769.3K (±1% cap)
NOI $46,158 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$613.5K
$536.8K – $715.7K (±1% cap)
NOI $42,943 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$717.9K
$628.2K – $837.6K (±1% cap)
NOI $50,254 @ 7.0% cap · market cap 8.04%
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

(Bike/Boat/Book/etc) Store Locksmith Daycare Center Pet Grooming Service Auto Parts Store (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Florist Mobile Phone Store Tanning Salon

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

FAQs

What type of property is this?
Duplex - Two 4-bedroom, 1-bath units are offered with a full basement, walk-up attic, and off-street parking on a fenced lot.
Where is this duplex located?
The property is located at 605 Washington Avenue Portland, ME.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two 4‑bedroom, 1‑bath units on Washington Ave, built in 1905; Each apartment offers 1,000+ SF with large bedrooms and flexible living/dining layouts; Full walk‑up attic with two staircases provides potential for an additional unit or expanded living space (buyer to verify with the City of Portland)
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