Duplex with Walk-Up
New
For Sale
$550,000
605 Washington Avenue, Portland, ME 04103
MULTI_FAMILY - Other - Portland, ME
Property Size2,612 SF
Lot Size0.16 Acres
Price / SF$210.57
Days on Market2
Property Features for 605 Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Parking features
Off Street
Patio and Porch features
Porch, Deck
Interior features
Bathtub, Shower
Fencing
Fenced
Basement
Full, Unfinished
Lot features
Corner Lot, Level, Sidewalks, Near Shopping, Near Turnpike/ Interstate, Near Town, Near Public Transit
Standard status
Active
Size
2,612 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7522
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1905
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Wood Frame, Aluminum Siding, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Maine Real Estate Co
(207) 292-1030
Listed By:
Karen Edgcombe
(207) 523-0198
Added: Jul 31
Last Checked: Aug 1 at 7:06PM
MLS# 1635440
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.
This duplex at 605 Washington Avenue offers two spacious 4-bedroom, 1-bath units. Each apartment features large bedrooms, flexible living/dining layouts, and period details. A full walk-up attic, served by two existing staircases, is included and may offer room for additional unit possibilities or expanded living space (buyer to verify with the City of Portland). The full basement provides storage and utilities, with blown insulation, two newer natural gas wall hung boilers, and washer/dryer hookups. Interior surfaces include laminate and carpet flooring, with wood-frame construction and aluminum and vinyl siding. The property also includes a porch and deck, plus a garage in fair condition that provides extra storage.
The home sits on a 0.16-acre lot with off-street parking and fencing. Utilities include public water and public sewer, and the roof is shingle.
Zoned RN3, the layout supports either investor occupancy or owner occupancy while maintaining rental functionality for the second unit.
The home sits on a 0.16-acre lot with off-street parking and fencing. Utilities include public water and public sewer, and the roof is shingle.
Zoned RN3, the layout supports either investor occupancy or owner occupancy while maintaining rental functionality for the second unit.
Key Highlights
- Duplex with two 4‑bedroom, 1‑bath units
- Full walk‑up attic served by two existing staircases (buyer to verify with the City of Portland)
- 0.16‑acre fenced lot with off‑street parking
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
NOI $46,158 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$613.5K
$536.8K – $715.7K
NOI $42,943 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$717.9K
$628.2K – $837.6K
NOI $50,254 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
356
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a fenced lot with off-street parking, RN3 zoning, and a full walk-up attic with two staircases.
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 $550,000.
What are key features of this property?
This property features: Duplex with two 4‑bedroom, 1‑bath units; Full walk‑up attic served by two existing staircases (buyer to verify with the City of Portland); 0.16‑acre fenced lot with off‑street parking
