Two-Unit Residential Income
850 Washington Avenue Portland, ME 04103
New
For Sale
$799,000
MULTI_FAMILY - Other - Portland, ME
Property Size2,184 SF
Lot Size0.53 Acres
Price / SF$365.84
Days on Market7
Property Features for 850 Washington Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RN-3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Basement, Bathroom 1
- Patio and Porch features
- Porch, Deck
- Basement
- Full, Unfinished
- Standard status
- Active
- Size
- 2,184 SF
- Lot size
- 0.53 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 8223
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Other (Heating), Natural Gas
- 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
(207) 879-9800
Listed By:
Andrea Page
(207) 879-9800
Added: Jul 18
Last Checked: Jul 24 at 9:06AM
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.
Investment Insights
Based on property information with market context.
This turnkey two-unit residential income property includes two spacious 2-bedroom units, each updated with white cabinetry, granite countertops, updated appliances, stylish bathrooms, and in-unit laundry. The property also features separate gas and electric meters and newer boilers, supporting straightforward ownership and day-to-day management. Outside, you’ll find an expansive backyard, abundant off-street parking, and a detached 2-car garage.
Located at 850 Washington Avenue in Portland, ME, the home is minutes from Downtown Portland, Back Cove, Payson Park, Tipo, Monte’s Fine Foods, and other nearby amenities, with proximity to the Roux Institute and activity in the surrounding neighborhood.
Set on approximately 0.53 acres and offered with a group showing schedule of Tuesdays and Thursdays from 1–2 PM, this renovated duplex-style investment is positioned for tenants who want on-site laundry and dedicated utility services.
Located at 850 Washington Avenue in Portland, ME, the home is minutes from Downtown Portland, Back Cove, Payson Park, Tipo, Monte’s Fine Foods, and other nearby amenities, with proximity to the Roux Institute and activity in the surrounding neighborhood.
Set on approximately 0.53 acres and offered with a group showing schedule of Tuesdays and Thursdays from 1–2 PM, this renovated duplex-style investment is positioned for tenants who want on-site laundry and dedicated utility services.
Key Highlights
- Renovated 2‑unit property built in 1864 with updated interiors and 2 bedrooms in each unit
- Over half an acre lot with expansive backyard plus a detached 2‑car garage and abundant off‑street parking
- In‑unit laundry in both units with separate gas and electric meters for each unit
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 4.83%
Second Best
Apartment 5plus
$512.9K
$448.8K – $598.4K
NOI $35,906 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$600.3K
$525.2K – $700.3K
NOI $42,019 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Turnkey two-unit rental with two 2-bedroom apartments, in-unit laundry, updated interiors, and detached 2-car garage on a large lot.
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 $799,000.
What are key features of this property?
This property features: Renovated 2‑unit property built in 1864 with updated interiors and 2 bedrooms in each unit; Over half an acre lot with expansive backyard plus a detached 2‑car garage and abundant off‑street parking; In‑unit laundry in both units with separate gas and electric meters for each unit
