Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Auburn Two-Unit Multifamily Property Title is generated by Realmo AI

    7 Grove Street, Auburn, ME 04210

    View on Map
    Claim this Listing
    New
    For Sale
    $385,000

    MULTI_FAMILY - Auburn, ME

    Property size:
    2,268 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $169/SF
    Added:
    May 27, 2026
    Days on Market:
    7
    Last Refresh:
    Jun 2 at 1:06 am

    Property Features for 7 Grove Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    GB
    Bathrooms
    3
    Rooms
    Basement, Bathroom 2, Bathroom 3, Bathroom 1
    Patio and Porch features
    Deck, Porch
    Pets allowed
    No
    Interior features
    Walk-in Closets, 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Attic, Bathtub
    Basement
    Full, Unfinished
    Standard status
    Active
    Size
    2,268 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4869

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Steam
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    2
    Flooring type
    Vinyl, Wood, Tile - Ceramic, Carpet
    Building materials
    Wood Frame, Asbestos
    Roof type
    Shingle

    We can help!

    Listing Contact
    Michael Cloutier

    Listing agent Michael Cloutier

    Listing office Coldwell Banker Realty 163 Fore St Ste B, Saco, ME

    Listing date May 27, 2026

    MLS# 1664023 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

    • Two units: Owner‑occupied 2 bed/2 bath unit plus a renovated 2 bed/1 bath unit (2022).
    • Updated first‑floor unit: Includes updated kitchen, dining room, living room, bathrooms and bedrooms.
    • Ample parking: Two paved driveways accommodate up to 6 cars.
    • Outdoor improvements: Leveled backyard with new walkway pavers.
    • Convenient location: Close to all amenities Auburn has to offer.
    • The renovated upper unit includes in‑unit laundry.

    Overview

    This two-unit multifamily property is located in Auburn, Maine. The first floor unit, currently owner-occupied, features two bedrooms and two full bathrooms, along with an updated kitchen, dining room, and living room. The upper unit, renovated in 2022, includes two bedrooms, one full bathroom, and laundry facilities. The property includes two paved driveways with space for up to six cars. The backyard has been leveled, and new walkway pavers have been installed. The property is zoned GB and is situated on a lot of 0.15 acres. The building has a total area of 2268 square feet. The property is located close to the amenities of Auburn.

    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 $32.4k $14.28
    − Vacancy −$431 −$0.19
    EGI $32.0k $14.09
    − OpEx −$9.6k −$4.23
    NOI $22.4k $9.86
    2,268 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $319.6K
    $279.6K – $372.8K (±1% cap)
    NOI $22,369 @ 7.0% cap · market cap 5.81%
    Second Best
    Apartment 5plus
    $303.6K
    $265.7K – $354.2K (±1% cap)
    NOI $21,253 @ 7.0% cap · market cap 5.52%
    Theoretical Best
    Warehouse
    $4.03M
    $3.52M – $4.70M (±1% cap)
    NOI $281,970 @ 7.0% cap · market cap 73.24%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Androscoggin
    State
    Maine
    Longitude
    -70.226078
    Latitude
    44.104305

    Nearby Similar for Sale

    • $644,700
      2,219 SF

      Gas Station, C-Store, Carwash

      Commercial business featuring gas station, convenience store, and carwash.
      345 Center St., Auburn, ME 04210
      View Details
    • $525,000
      8,000 SF

      Auburn Warehouse/Distribution Building For Sale

      8,000 SF warehouse/distribution building with ample space and power.
      213 Washington Street S, Auburn, ME 04210
      View Details
    • $750,000
      7,466 SF

      Multi-Structure Investment Opportunity in Auburn

      Multi-family property with new single-family home and two-unit building.
      27-31 Drummond Street, Auburn, ME 04210
      View Details
    • $1,100,000
      5,596 SF

      Multi-Family Investment Opportunity, Auburn

      Nine-unit multi-family property in a walkable Auburn location.
      15-17 Pleasant Street, Auburn, ME 04210
      View Details
    • $465,000
      3,004 SF

      Victorian Duplex in Auburn, Maine

      Victorian duplex with two units in Auburn, Maine.
      137 S Main Street, Auburn, ME 04210
      View Details
    • $415,000
      2,178 SF

      Desirable Auburn Multi-Unit Home

      Beautiful Auburn two-unit home on a double lot.
      86 Fourth Street, Auburn, ME 04210
      View Details
    • $445,000
      3,460 SF

      Three-Unit Apartment Building in Auburn

      Refreshed three-unit apartment building with updated kitchens and convenient location.
      91 Minot Avenue, Auburn, ME 04210
      View Details
    • $440,000
      2,586 SF

      Renovated Duplex Near Downtown Auburn

      Turnkey first floor unit with value-add potential in Auburn.
      29 Whitney Street, Auburn, ME 04210
      View Details
    • $700,000
      3,906 SF

      Auburn Mixed-Use Opportunity

      Versatile Auburn property with residential and commercial potential.
      823 Washington Street N, Auburn, ME 04210
      View Details
    • $389,900
      2,178 SF

      Charming Auburn Multi-Unit Residence

      Beautiful two-unit home in Auburn, ideal for investors/owner-occupants.
      86B Fourth Street, Auburn, ME 04210
      View Details
    • $349,999
      1,913 SF

      Auburn Multifamily Home with Garage

      Comfortable Auburn home with modern features, garage, and scenic views.
      154 Madison Street, Auburn, ME 04210
      View Details
    • $325,000
      2,140 SF

      In-Town Auburn Duplex Opportunity

      Turnkey duplex in Auburn, Maine, with strong rental history.
      365 Turner Street, Auburn, ME 04210
      View Details

    FAQs

    What type of property is this?
    Duplex - Spacious two-unit property in Auburn, Maine, with recent renovations.
    Where is this duplex located?
    The property is located at 7 Grove Street Auburn, ME.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: Two units: Owner‑occupied 2 bed/2 bath unit plus a renovated 2 bed/1 bath unit (2022).; Updated first‑floor unit: Includes updated kitchen, dining room, living room, bathrooms and bedrooms.; Ample parking: Two paved driveways accommodate up to 6 cars.
    (207) 808-9488
    We can help!
    Listing Contact
    Michael Cloutier
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7 Grove Street, Auburn, ME 04210
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!