Renovated Duplex with
For Sale
$770,000
850 Washington Avenue, Portland, ME 04103
Multi-Family, Portland, ME
Property Size2,184 SF
Lot Size0.53 Acres
Price / SF$352.56
Days on Market103
Property Features for 850 Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RN-3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Patio and Porch features
Porch, Deck
Basement
Unfinished, Full
Lot features
Open, Level, Sidewalks, Near Town
Standard status
Active
Size
2,184 SF
Lot size
0.53 Acres
Additional Details
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8223
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1864
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood
Building materials
Wood Frame, Shingle Siding, Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty
Listed By:
Andrea Page
(207) 879-9800
Added: Jul 18
Changed: Oct 27
Last Checked: Oct 28 at 12:06AM
MLS# 1665928
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.
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Investment Insights
Based on property information with market context.
This renovated duplex contains two spacious 2-bedroom units within 2,184 square feet. Each residence includes updated cabinetry, granite countertops, appliances, bathrooms, and in-unit laundry, with wood and tile flooring throughout the property. Separate gas and electric meters and newer boilers support independent operation. A detached 2-car garage, off-street parking, porch, deck, and expansive backyard add useful amenities. The property is served by public water and public sewer and has RN-3 zoning.
Set on 0.53 acres at 850 Washington Avenue in Portland, the property is near Downtown Portland, Back Cove, Payson Park, Tipo, Monte's Fine Foods, and the Roux Institute. The building dates to 1864 and features wood-frame construction, shingle and wood siding, and a shingle roof. Its two-unit layout accommodates separate residences while retaining shared site improvements and outdoor areas.
Set on 0.53 acres at 850 Washington Avenue in Portland, the property is near Downtown Portland, Back Cove, Payson Park, Tipo, Monte's Fine Foods, and the Roux Institute. The building dates to 1864 and features wood-frame construction, shingle and wood siding, and a shingle roof. Its two-unit layout accommodates separate residences while retaining shared site improvements and outdoor areas.
Key Highlights
- Two 2‑bedroom units totaling 2,184 square feet
- 0.53‑acre lot with detached 2‑car garage and off‑street parking
- Renovated interiors with granite countertops, updated appliances, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,595
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,900
$771.9K
Cap Rate 7%
$551,357
$551.4K
Cap Rate 9%
$428,833
$428.8K
Market Conditions
NOI Build-Up for 2,184 SF
Gross rent
$59.0K $27.00/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$55.1K $25.25/SF
− OpEx
−$16.5K −$7.57/SF
NOI
$38.6K $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%
$771,900
Cap Rate 7%
$551,357
Cap Rate 9%
$428,833
Alternative Uses
Best Use
Multifamily LT 5
$551.4K
$482.4K – $643.3K
NOI $38,595 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$512.9K
$448.8K – $598.4K
NOI $35,906 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$600.3K
$525.2K – $700.3K
NOI $42,019 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
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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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with separate utilities, off-street parking, and substantial outdoor space.
Where is this duplex located?
The property is located at 850 Washington Avenue Portland, ME.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Two 2‑bedroom units totaling 2,184 square feet; 0.53‑acre lot with detached 2‑car garage and off‑street parking; Renovated interiors with granite countertops, updated appliances, and in‑unit laundry
