516 Riverside Drive

Closed 9/4/26
Closed 9/4/26
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Sold
Last Sold Price
$270,000
1,897 sqft$142/sqft
516 Riverside Dr, Augusta, ME 04330
Multi FamilyProperty Type
0.47 acresLot Size
1843Year Built
$142/sq ftPrice per sq ft

Description

Looking to get into real estate investing or offset your mortgage with rental income? This well-maintained two-unit property offers flexibility that's hard to find. Unlike a traditional side-by-side duplex, these apartments are arranged one above the other, providing two spacious living areas with separate entrances. Whether you're looking to owner-occupy one unit while renting the other or add a solid income-producing property to your portfolio, this property is worth a closer look. An added bonus...Looking to get into real estate investing or offset your mortgage with rental income? This well-maintained two-unit property offers flexibility that's hard to find. Unlike a traditional side-by-side duplex, these apartments are arranged one above the other, providing two spacious living areas with separate entrances. Whether you're looking to owner-occupy one unit while renting the other or add a solid income-producing property to your portfolio, this property is worth a closer look. An added bonus is the home's versatility. With its layout, the property could be converted back into a single-family home with relative ease, giving future owners additional options as their needs change. Each unit features bright living spaces, two comfortable bedrooms, functional kitchens, and the convenience of its own washer and dryer hookups. Each unit also offers its own heating source and own electric meter allowing for heat and electricity to be paid for by tenants should you desire. The property generates an estimated gross annual rental income of $31,200 with estimated annual operating expenses of $10,938, making it an attractive opportunity. Outside, you'll find ample parking and a manageable yard that's easy to maintain while still offering space to relax or garden. The asphalt roof, vinyl siding and vinyl window provides for ease of maintenance, plus the convenient location puts shopping, schools, and major commuting routes just a short distance away. In addition, the basement is easily accessed from an exterior door making storage a breeze. Whether you're looking to build equity through rental income, expand your investment portfolio, or own a home with built-in flexibility for the future, this property checks all the boxes. Schedule your private showing today before this opportunity is gone.
  • Listed by: Matthew Pouliot 207.441.9418 matt@pouliotrealestate.com • Pouliot Real Estate
Listing closed: 09/04/2026 12:00 AM • Source: Maine Listings, MLS#: 1673153
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Location

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$1,557 per month

30 year fixed, 6.55% Interest

Principal and Interest

$1,372

Property Taxes

$185

HOA Dues

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Property Information for 516 Riverside Drive

Property Details
  • Taxes: $2,219 / year
  • MLS Type: Multi-Family
  • County: Kennebec County
  • Architectural Style: New Englander
  • Has Waterfront: No
  • Zoning: PD2
Building Information
  • Residences: 2
  • Year Built: 1843
  • Lot Size: 0.47 AC / 20,473 SF
Summary
Location and General Information
  • Water View: No
  • Page: 186
  • Latitude: 44.348697
  • Longitude: -$69.75
Taxes and HOA
  • Association: No
  • Tax Lot: 15
  • Tax Book Number: 7719
  • Tax Map Number: 50
  • Tax Year: 2025
  • Tax Annual Amount: $2,219.00
Parking
  • Parking Features: Paved, 1 - 4 Spaces, On Site, Off Street
  • Vehicle Storage: No Vehicle Storage
  • Has Attached Garage: No
  • Has Garage: No
Property
Lot Information
  • Lot Features: Near Town, Open Lot, Rolling Slope
  • Lot Size Acres: 0.47
  • Lot Size Area: 0.47
  • Lot Size Source: Survey
  • Lot Size Square Feet: 20473.2
  • Lot Size Units: Acres
  • Other Source of Square Footage: Floor Plan Scan by Photographer
  • Roads: Paved, Public
  • Road Surface Type: Paved
  • Tree Growth: false
Property and Assessments
  • Above Grade Finished Area: 1897.0
  • Building Area Total: 1897.0
  • Property Type: Multi-Family
  • Deed: Partial
  • Surveyed: Yes
  • Year Built: 1843
Building Features
  • Construction Materials: Wood Frame, Vinyl Siding
Financial Information
  • List Price/SqFt: $134.42
  • Property Repairs Y/N: No
Utilities
  • Electric: Circuit Breakers
  • Gas: Bottled
  • Sewer: Private Sewer, Septic Tank
  • Water Source: Public
  • Water Heater: Electric
  • Utilities On: Yes
Interior and Exterior Features
Exterior Features
  • Roof: Shingle
Interior Features
  • Amenities: Washer Hookup
  • Bathrooms Full: 2
  • Bathrooms Total Decimal: 2.0
  • Bathrooms Total Integer: 2
  • Equipment: Internet Access Available
  • Laundry Features: Washer Hookup
  • Other Equipment: Internet Access Available
  • Basement: Exterior Entry, Walk-Out Access, Full, Unfinished
  • Patio And Porch Features: Deck
  • Has Cooling: No
  • Heating: Gas Bottled, Oil, Direct Vent Furnace, Forced Air
  • Has Heating: Yes
  • Flooring: Laminate, Tile, Wood, Luxury Vinyl
Room Information
Laundry
  • Laundry Room Amenities: Washer Hookup
Multi Family
Multi Family Information
  • # of 2 BD Units: 2
  • Number Of Units Total: 2
Income & Expenses
  • Gross Income: $31,200.00
  • Operating Expense: $10,938.00
Rental
Rent Information
  • Land Lease: No

Property History for 516 Riverside Drive

DateEvent & SourcePriceAppreciation
Sep 4, 2026

Sold

Maine Listings #1673153

$270,000—
Jul 29, 2026

Pending

Maine Listings #1673153

—
Jul 23, 2026

Listed (Active)

Maine Listings #1673153

$255,000—
DateEvent & SourcePrice
09/04/2026

Sold

Maine Listings #1673153

$270,000
07/29/2026

Pending

Maine Listings #1673153

—
07/23/2026

Listed (Active)

Maine Listings #1673153

$255,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 516 Riverside Drive

This home is within Augusta Public Schools.
Rating
School
Type
Grades
Distance
Sylvio J Gilbert School
Public - PK to 6
Cony Middle School
Public - 7 to 8
Cony High School
Public - 9 to 12
Lillian Parks Hussey School
Public - K to 6
Rating
School
Distance
Sylvio J Gilbert School
PublicPK to 6

Cony Middle School
Public7 to 8

Cony High School
Public9 to 12

Lillian Parks Hussey School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Pouliot Real Estate

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved.