3-Unit
New
For Sale
$449,900
10 Laurel Ave, Auburn, ME 04210
Two residences are leased, while the third is vacant and available for occupancy or rental use.
Property Size2,876 SF
Price / SF$156.43
Days on Market3
Property Features for 10 Laurel Ave
General Information
Standard status
Active
Size
2,876 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1920
Listed By:
Pouliot Real Estate
(207) 248-6044
Source:
Pouliotrealestate
Added: Sep 24
Last Checked: Sep 26 at 6:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pouliot Real Estate
Investment Insights
Based on property information with market context.
This 2,876-square-foot triplex in Auburn, Maine, dates to 1920 and contains three apartments, each with two bedrooms and one bathroom. Two units are leased, and the third is vacant, allowing either occupancy or continued rental operation.
The property is professionally managed by Simplified Management.
The property is professionally managed by Simplified Management.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 bathroom
- 2,876 square feet; built in 1920
- Two units leased and one vacant; professionally managed by Simplified Management
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
$28,366
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
6.30%
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%
$567,320
$567.3K
Cap Rate 7%
$405,229
$405.2K
Cap Rate 9%
$315,178
$315.2K
Market Conditions
NOI Build-Up for 2,876 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
$41.1K $14.28/SF
− Vacancy
−$546 −$0.19/SF
EGI
$40.5K $14.09/SF
− OpEx
−$12.2K −$4.23/SF
NOI
$28.4K $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%
$567,320
Cap Rate 7%
$405,229
Cap Rate 9%
$315,178
Alternative Uses
Best Use
Multifamily LT 5
$405.2K
$354.6K – $472.8K
NOI $28,366 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$385.0K
$336.9K – $449.2K
NOI $26,951 @ 7.0% cap · market cap 5.99%
Theoretical Best
Warehouse
$5.11M
$4.47M – $5.96M
NOI $357,559 @ 7.0% cap · market cap 79.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,300
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two residences are leased, while the third is vacant and available for occupancy or rental use.
Where is this triplex located?
The property is located at 10 Laurel Ave Auburn, ME.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 bathroom; 2,876 square feet; built in 1920; Two units leased and one vacant; professionally managed by Simplified Management
