Renovated Duplex with In-Unit
850 Washington Avenue Portland, ME 04103
850 Washington Avenue, Portland, ME, 04103
$849,000
For Sale
$849,000
Turnkey two-unit duplex featuring updated interiors, in-unit laundry, separate utilities, and a detached 2-car garage.
Property Size2,184 SF
Price / SF$388.74
Days on Market46
Property Features for 850 Washington Avenue
General Information
- Standard status
- Active
- Size
- 2,184 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1864
Listing Agency
Keller Williams Realty
Listed by
Andrea Page
(603) 433-3350
Source
Greatislandrealty
Added: Jun 2 Checked: Jul 15 at 11:34 pm
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This beautifully renovated two-unit duplex offers two spacious 2-bedroom apartments, each updated with white cabinetry, granite countertops, updated appliances, stylish bathrooms, and in-unit laundry. The property includes a detached 2-car garage, abundant off-street parking, and an expansive backyard on a lot measuring over half an acre. Separate gas and electric meters support straightforward individual unit management, and newer boilers are in place.
Located at 850 Washington Avenue, the home is positioned just minutes from Downtown Portland and several nearby amenities, including Back Cove, Payson Park, Tipo, and Monte’s Fine Foods. It also benefits from proximity to the Roux Institute and ongoing investment in the surrounding area.
The configuration suits a variety of ownership goals, including owner-occupancy with rental income or adding a renovated income property to an investment portfolio. With both units independently metered and updated for comfortable day-to-day living, the property presents a practical, turnkey option for tenants seeking modern finishes and in-unit laundry within close reach of the education and innovation-focused activity near the Roux Institute.
Located at 850 Washington Avenue, the home is positioned just minutes from Downtown Portland and several nearby amenities, including Back Cove, Payson Park, Tipo, and Monte’s Fine Foods. It also benefits from proximity to the Roux Institute and ongoing investment in the surrounding area.
The configuration suits a variety of ownership goals, including owner-occupancy with rental income or adding a renovated income property to an investment portfolio. With both units independently metered and updated for comfortable day-to-day living, the property presents a practical, turnkey option for tenants seeking modern finishes and in-unit laundry within close reach of the education and innovation-focused activity near the Roux Institute.
Key Highlights
- 1864‑built, renovated two‑unit duplex with two 2‑bedroom units and updated interiors
- Each unit includes in‑unit laundry plus updated kitchen finishes with white cabinetry and granite countertops
- Separate gas and electric meters and newer boilers support simple ownership and management
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 | $59.0k | $27.00 |
| − Vacancy | −$3.8k | −$1.76 |
| EGI | $55.1k | $25.25 |
| − OpEx | −$16.5k | −$7.57 |
| NOI | $38.6k | $17.67 |
2,184 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$551.4K
$482.4K – $643.3K
NOI $38,595 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$512.9K
$448.8K – $598.4K
NOI $35,906 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$600.3K
$525.2K – $700.3K
NOI $42,019 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Turnkey two-unit duplex featuring updated interiors, in-unit laundry, separate utilities, and a detached 2-car garage.
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 $849,000.
What are key features of this property?
This property features: 1864‑built, renovated two‑unit duplex with two 2‑bedroom units and updated interiors; Each unit includes in‑unit laundry plus updated kitchen finishes with white cabinetry and granite countertops; Separate gas and electric meters and newer boilers support simple ownership and management
