NOT LISTED FOR SALE

571 Cumberland Ave Portland, ME 04101

Parkside Neighborhood
-- Bed
12 Baths
8,126 Sq Ft
0.9 Acres

Last Sold July 12, 2022

Last sale price $1,420,000 $175 Per Sq Ft

8 Days on Market

Highlights

  • 0.9 Acre Lot
  • Corner Lot
  • Heating System Uses Steam
  • Wood Flooring
  • No HOA
  • 4-minute walk to Deering Oaks Park

About This Home

As of July 2022

12 unit investment opportunity in desirable downtown Portland location! 571 Cumberland Avenue is a professionally managed 12 unit building with four units per level in 11 studio and 1 one bedroom layouts. Units have high ceilings, large windows, steam radiators, and a mix of hardwood flooring and carpet. Built in 1884, this building maintains historic charm with updated features including a central fire alarm system, basement storage, coin-op laundry, upgraded electrical with separate meters, replacement windows, and 3-4 off-street parking spaces. Conveniently located near Maine Medical Center, the Historic West End neighborhood, Tandem Coffee and Bakery, Bramhall, and Hadlock Field.

Last Agent to Sell the Property

Jasmin Moulton

JM Real Estate Listed on: 06/01/2022

Last Buyer's Agent

Bradley Marin

Keller Williams Realty

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,008

Year Built

  • Built in 1884

Lot Details

  • 0.9 Acre Lot
  • Corner Lot
  • Level Lot

Home Design

  • Brick Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Asbestos Siding
  • Shingle Siding
  • Asbestos

Interior Spaces

  • 12 Full Bathrooms
  • 8,126 Sq Ft Home
  • Multi-Level Property

Flooring

  • Wood
  • Carpet

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry

Parking

  • Gravel Driveway
  • On-Site Parking

Location

  • City Lot

Utilities

  • No Cooling
  • Radiator
  • Heating System Uses Oil
  • Heating System Uses Steam
  • Gas Water Heater

Listing and Financial Details

  • Legal Lot and Block 16 / E
  • Assessor Parcel Number PTLD-000048-E000016-000001

Community Details

Overview

  • No Home Owners Association
  • 12 Units

Amenities

  • Coin Laundry
  • Community Storage Space

Building Details

  • Operating Expense $49,214
  • Gross Income $126,052

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,008

Year Built

Built in 1884

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Lot Size Acres: 0.9
  • Road Surface Type: Paved
  • MLS Status: Closed
  • Directions: Located at the corner of Deering and Cumberland Avenue
  • Above Grade Finished Sq Ft: 8126.0
  • Architectural Style: Multi-Level
  • Garage Yn: No
  • Year Built: 1884
  • Location Information:Leased Land: No
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 0.9
  • Property Information:Total Baths: 12.0
  • Property Information:SqFt Finished Above Grade: 8126.0
  • Property Information:Garage: No
  • Site:Corner Lot: Yes
  • Site:Level: Yes
  • Water Info:Water Frontage2: No
  • Water Info:Water View2: No
  • Construction:Wood Frame: Yes
  • Exterior:Shingle Siding: Yes
  • Roof:Shingle: Yes
  • Heat Fuel:Oil: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Floors:Wood3: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Basement Entry:Interior: Yes
  • Water Heater:Gas: Yes
  • Amenities:Storage: Yes
  • Gas:Natural - On Site: Yes
  • Basement:Unfinished: Yes
  • Property Information:Number of Units: 12
  • Foundation Materials:BrickMortar2: Yes
  • Income Expenses Gross Income: 126052.0
  • Income Expenses Operating Expenses: 49214.0
  • Parking:On Site2: Yes
  • Style:Multi-Level: Yes
  • Heat System:Steam: Yes
  • Driveway:Gravel: Yes
  • Heat System:Radiator: Yes
  • Exterior:Asbestos: Yes
  • Amenities:Laundry - Coin: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Has Basement: Full, Interior Entry, Unfinished
  • Full Bathrooms: 12
  • Flooring: Wood, Carpet
  • Interior Amenities: Storage
  • Full Basement: Yes

Exterior Features

  • Lot Features: Corner Lot, Level, Sidewalks, Intown
  • Waterfront: No
  • Construction Type: Shingle Siding, Asbestos, Wood Frame
  • Foundation Details: Brick/Mortar
  • Roof: Shingle

Garage/Parking

  • Attached Garage: No
  • Parking Features: 1 - 4 Spaces, Gravel, On Site

Utilities

  • Laundry Features: Laundry - Coin
  • Security: Fire System
  • Cooling: None
  • Cooling Y N: No
  • Heating: Steam, Radiator
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Utilities: Utilities On
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 39204.0
  • Parcel #: PTLD-000048-E000016-000001
  • Zoning: R6

Multi Family

  • Number Of Units Total: 12
  • Annual Gross Income: 126052.0
  • Annual Operating Expense: 49214.0

Tax Info

  • Tax Annual Amount: 17008.0
  • Tax Block: E
  • Tax Book Number: 30116
  • Tax Lot: 16
  • Tax Map Number: 48
  • Tax Year: 2021

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/12/2022 07/12/22 Sold $1,420,000 -5.3% $175 / Sq Ft
06/10/2022 06/10/22 Pending -- -- --
06/01/2022 06/01/22 For Sale $1,500,000 -- $185 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2022

    Jasmin Moulton

    JM Real Estate

    (207) 450-1529

    1 in this area

    9 Total Sales

    Section Image

  • B

    Buyer's Agent in 2022

    Bradley Marin

    Keller Williams Realty

    (207) 879-9800

    1 in this area

    2 Total Sales

    Section Image
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Map

Source: Maine Listings

MLS Number: 1530655

Maine Listings

Maine Cumberland County Portland 04101 Parkside

571 Cumberland Ave, Portland, ME

This home is located at 571 Cumberland Ave, Portland, ME 04101 since 01 June 2022. This property was built in 1884. 571 Cumberland Ave is a home located in Cumberland County with nearby schools including Reiche Community School, King Middle School, and Baxter Academy for Tech & Sciences.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Maine Listings Listing data is derived in whole or in part from Maine Real Estate Information System, Inc. (d/b/a Maine Listings) and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.
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