50 Alder St Portland, ME 04101
West Bayside NeighborhoodEstimated payment $4,630/month
Highlights
- Nearby Water Access
- Colonial Architecture
- No HOA
- 0.13 Acre Lot
- Wood Flooring
- Porch
About This Home
Be part of Bayside's exciting transformation—one of Portland's fastest redeveloping neighborhoods. This spacious, move-in ready duplex sits in the heart of the Peninsula within the dynamic B2b business zone, offering both immediate cash flow and long-term upside. The detached garage includes a workshop—pefect for a creative or trade business—and off-street parking adds daily convenience. City-assessed at $823,000, this duplex represents a strategic opportunity for both homeowners and investors. Just steps to Bayside Bowl and minutes to Trader Joe's, Whole Foods, the Old Port, and the Arts District—this location has a Walk Score of 98. The seller paid for an inspection and has been addressing issues in the summary of concerns. The inspection report is available upon request. This duplex is currently financed with an FHA loan and should be able to be financed with any type of mortgage. Unit #50 features 4 bedrooms, 2 bathrooms and generous living space, while Unit #48 offers 3 bedrooms with approximately 455 sq ft of additional unheated bonus space—perfect for future expansion with added heat and finish (with permits). There's even potential to improve Unit #48 into a 4-bedroom, 2-bath apartment by adding a first-floor primary with ensuite bathroom. Based on floor plan measurements, the gross living area is significantly larger than tax records reflect—approximately 3,936 sq ft total (1,354 in #48 and 2,582 in #50). With permits, there may also be potential to add a third unit within the existing footprint. The property sits on a 6,076 sq ft lot in the B2b zone, which allows for medium-scale mixed-use and multifamily development. Zoning permits up to 13 residential units by right (buyer to verify with the city).
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,848
Year Built
- Built in 1850
Lot Details
- 5,663 Sq Ft Lot
- Level Lot
Parking
- 2 Car Garage
- Driveway
Home Design
- Duplex
- Colonial Architecture
- Brick Foundation
- Wood Frame Construction
- Shingle Roof
- Vertical Siding
Interior Spaces
- 3 Full Bathrooms
- 3,653 Sq Ft Home
- Multi-Level Property
- Laundry on main level
Flooring
- Wood
- Carpet
- Linoleum
- Tile
Unfinished Basement
- Basement Fills Entire Space Under The House
- Interior Basement Entry
Outdoor Features
- Nearby Water Access
- Porch
Utilities
- No Cooling
- Heating System Uses Oil
- Baseboard Heating
- Hot Water Heating System
- Electric Water Heater
Additional Features
- Green Energy Fireplace or Wood Stove
- City Lot
Listing and Financial Details
- Tax Lot 16+17
- Assessor Parcel Number PTLD-000033-C000016-000001
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Operating Expense $16,000
- Gross Income $78,000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
---|---|---|---|---|
2024 | $9,848 | $656,100 | $145,600 | $510,500 |
2023 | $9,454 | $656,100 | $145,600 | $510,500 |
2022 | $8,930 | $656,100 | $145,600 | $510,500 |
2021 | $8,523 | $656,100 | $145,600 | $510,500 |
2020 | $5,471 | $234,700 | $68,800 | $165,900 |
2019 | $5,471 | $234,700 | $68,800 | $165,900 |
2018 | $5,276 | $234,700 | $68,800 | $165,900 |
2017 | $5,081 | $234,700 | $68,800 | $165,900 |
2016 | $4,955 | $234,700 | $68,800 | $165,900 |
2015 | $4,842 | $234,700 | $68,800 | $165,900 |
2014 | $4,694 | $234,700 | $68,800 | $165,900 |
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
09/02/2025 09/02/25 | Price Changed | $715,000 | -3.4% | $196 / Sq Ft |
08/28/2025 08/28/25 | Price Changed | $740,000 | -1.3% | $203 / Sq Ft |
08/14/2025 08/14/25 | Price Changed | $750,000 | -4.5% | $205 / Sq Ft |
07/30/2025 07/30/25 | Price Changed | $785,000 | -1.9% | $215 / Sq Ft |
07/17/2025 07/17/25 | For Sale | $800,000 | -- | $219 / Sq Ft |
Mortgage History
Date | Status | Loan Amount | Loan Type |
---|---|---|---|
Closed | $336,000 | Stand Alone Refi Refinance Of Original Loan | |
Closed | $130,000 | Unknown |
Source: Maine Listings
MLS Number: 1630079

APN: PTLD-000033-000000-C016001
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