Duplex with Attached
For Sale
$275,000
365 Turner Street, Auburn, ME 04210
MULTI_FAMILY - Other - Auburn, ME
Property Size2,140 SF
Lot Size0.12 Acres
Price / SF$128.50
Days on Market31
Property Features for 365 Turner Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Urban Residential
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Basement
Unfinished, Partial
Lot features
Well Landscaped, Corner Lot, Level, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Neighborhood, Near Public Transit
Standard status
Active
Size
2,140 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3867
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
walk-in closet
washer and dryer hookups
attached barn/garage
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Composition, Wood, Carpet, Vinyl
Building materials
Wood Frame, Clapboard, Vinyl Siding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Rachel Bannister
(207) 240-5242
Added: Jul 13
Changed: Aug 3
Last Checked: Aug 12 at 7:06AM
MLS# 1660603
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.
365 Turner Street is an in-town Auburn duplex on a 0.12-acre lot with 2,140 square feet of living area. Built in 1920, the property features wood-frame construction with clapboard and vinyl siding and a shingle/composition roof. Each unit offers two bedrooms, including a primary bedroom with a walk-in closet. Washer and dryer hookups are available in both units.
The upstairs unit provides access to a third floor that is currently unused. Tenants are responsible for their own heat, hot water, and electricity. The property includes ample on-site parking and a spacious attached barn/garage that can support storage, workshop use, or other flexibility.
Utilities include public water and public sewer, and heating is provided via natural gas hot water. The duplex is currently fully occupied, and 24-hour notice is required for showings.
The upstairs unit provides access to a third floor that is currently unused. Tenants are responsible for their own heat, hot water, and electricity. The property includes ample on-site parking and a spacious attached barn/garage that can support storage, workshop use, or other flexibility.
Utilities include public water and public sewer, and heating is provided via natural gas hot water. The duplex is currently fully occupied, and 24-hour notice is required for showings.
Key Highlights
- 2,140 SF duplex with two‑bedroom units in‑town Auburn
- 0.12‑acre lot with ample on‑site parking
- Washer and dryer hookups in both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,107
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,140
$422.1K
Cap Rate 7%
$301,529
$301.5K
Cap Rate 9%
$234,522
$234.5K
Market Conditions
NOI Build-Up for 2,140 SF
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.
Gross rent
$30.6K $14.28/SF
− Vacancy
−$406 −$0.19/SF
EGI
$30.2K $14.09/SF
− OpEx
−$9.0K −$4.23/SF
NOI
$21.1K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,140
Cap Rate 7%
$301,529
Cap Rate 9%
$234,522
Alternative Uses
Best Use
Multifamily LT 5
$301.5K
$263.8K – $351.8K
NOI $21,107 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$286.5K
$250.7K – $334.2K
NOI $20,054 @ 7.0% cap · market cap 7.29%
Theoretical Best
Warehouse
$3.80M
$3.33M – $4.43M
NOI $266,056 @ 7.0% cap · market cap 96.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 04210, ME
24,061
Population
11,113
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
59.3 sq mi
ZIP Area
406
Density / Sq Mi
$66,552
Median Household Income
$42,624
Median Earnings
$983
Median Rent
$254,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two-bedroom units, washer and dryer hookups, and attached barn/garage, fully occupied.
Where is this duplex located?
The property is located at 365 Turner Street Auburn, ME.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,140 SF duplex with two‑bedroom units in‑town Auburn; 0.12‑acre lot with ample on‑site parking; Washer and dryer hookups in both units
