Legal Two-Unit Residential
South Portland, ME 04106, South Portland, ME 04106
New
MULTI_FAMILY - Other - South Portland, ME
Property size:
2,700 SFLot size:
0.23 AcresPrice / SF:
$222/SF- Added:
- Jun 24, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 25 at 5:06 pm
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CC
- Bathrooms
- 3
- Rooms
- Bathroom 1, Basement, Bathroom 3, Bathroom 2
- Patio and Porch features
- Deck
- Interior features
- 1st Floor Bedroom
- Fencing
- Fenced
- Basement
- Unfinished
- Standard status
- Active
- Size
- 2,700 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6319
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1898
- Number of units
- 2
- Flooring type
- Vinyl, Carpet, Wood
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Katie Yarrison (207) 939-1003
Listing office Town & Shore Real Estate One Union Wharf, Portland, ME (207) 773-0262
Listing date Jun 24, 2026
MLS# 1668661
Listing URL
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.
HighLights
- Legal two‑unit home at 1584 Broadway with dedicated electric meters for the first and second floors
- First floor offers 3 bedrooms (including one with a separate entrance) plus 2 full bathrooms
- Heating on first floor includes a natural gas direct‑vent boiler and heat pumps; cooling provided by heat pumps
- Second floor layout includes 3 bedrooms (or 2 bedrooms plus a living room), plus a small office, full bathroom, and kitchen area
- Additional private entrance space includes an office/bedroom with its own bathroom
- Year built 1898 with wood frame construction, vinyl siding, and shingle roof; includes a deck and fenced backyard
Overview
1584 Broadway is a legal two-unit residential property currently enjoyed as a single-family home, with dedicated electric meters for the first and second floors. The first-floor layout includes three bedrooms, with one bedroom featuring a separate entrance, plus two full bathrooms. Heating is supported by a natural gas direct-vent boiler and heat pumps on the first floor.
The second floor provides a flexible arrangement with three bedrooms or a combination of two bedrooms plus a living room, along with a small office, a full bathroom, and a kitchen area; appliances would need to be added to complete the second-floor unit. In addition, the home includes an office or bedroom with its own private entrance and bathroom, which can support guest use, remote work, or an added privacy option.
Outside, there is a deck overlooking a fenced backyard, providing an outdoor space for everyday use. With its legal two-unit status, dedicated meters, and multiple private entrances, the property can fit a range of owner-occupant or multi-generational living needs, as well as buyers looking for a straightforward path back to a two-unit configuration.
The second floor provides a flexible arrangement with three bedrooms or a combination of two bedrooms plus a living room, along with a small office, a full bathroom, and a kitchen area; appliances would need to be added to complete the second-floor unit. In addition, the home includes an office or bedroom with its own private entrance and bathroom, which can support guest use, remote work, or an added privacy option.
Outside, there is a deck overlooking a fenced backyard, providing an outdoor space for everyday use. With its legal two-unit status, dedicated meters, and multiple private entrances, the property can fit a range of owner-occupant or multi-generational living needs, as well as buyers looking for a straightforward path back to a two-unit configuration.
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 | $72.9k | $27.00 |
| − Vacancy | −$4.7k | −$1.76 |
| EGI | $68.2k | $25.25 |
| − OpEx | −$20.4k | −$7.57 |
| NOI | $47.7k | $17.67 |
2,700 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$681.6K
$596.4K – $795.2K
NOI $47,713 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$634.1K
$554.9K – $739.8K
NOI $44,390 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$742.1K
$649.3K – $865.8K
NOI $51,947 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Map
- City
- South Portland
- County
- Cumberland
- State
- Maine
- Longitude
- -70.299174
- Latitude
- 43.628962
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Legal two-unit layout with dedicated electric meters and private entries, offering flexible living and rental configuration options.
Where is this duplex located?
The property is located at South Portland, ME.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Legal two‑unit home at 1584 Broadway with dedicated electric meters for the first and second floors; First floor offers 3 bedrooms (including one with a separate entrance) plus 2 full bathrooms; Heating on first floor includes a natural gas direct‑vent boiler and heat pumps; cooling provided by heat pumps
