Three-Unit Multifamily
New
For Sale
$449,900
10 Laurel Avenue, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size2,876 SF
Lot Size0.08 Acres
Price / SF$156.43
Days on Market5
Property Features for 10 Laurel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Basement
Parking features
Off Street
Patio and Porch features
Porch
Basement
Walk-Out Access, Full
Lot features
Open, Level, Intown, Near Shopping, Neighborhood, Near Public Transit
Standard status
Active
Size
2,876 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4896
Utilities
Sewer type
Public Sewer
Heating system
Oil, Baseboard, Zoned, Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Number of units
3
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Samantha Anderson
(207) 312-8281
Added: Sep 22
Changed: Sep 25
Last Checked: Sep 26 at 7:06PM
MLS# 1681632
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.
This 2,876-square-foot triplex contains three two-bedroom, one-bath units. Two apartments are leased, while the third is vacant and can accommodate an owner occupant or continued rental use. The 1920 building has wood-frame construction with vinyl siding, a shingle roof, vinyl and carpet flooring, zoned oil-fired hot-water baseboard heating, and a porch. Basement space and off-street parking are also included.
The property occupies 0.08 acres and is served by public water and public sewer. Professional management is currently in place through Simplified Management. Residential zoning is identified as res.
The property occupies 0.08 acres and is served by public water and public sewer. Professional management is currently in place through Simplified Management. Residential zoning is identified as res.
Key Highlights
- Three‑unit property with three 2‑bedroom, 1‑bath units
- 2,876 square feet on 0.08 acres
- Two units leased; third unit vacant
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 - Wood-frame residential property with two leased units and one vacant unit for flexible occupancy options.
Where is this triplex located?
The property is located at 10 Laurel Avenue 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‑unit property with three 2‑bedroom, 1‑bath units; 2,876 square feet on 0.08 acres; Two units leased; third unit vacant
