Three-Unit Triplex
For Sale
$429,000
10 Pearl Street, Auburn, ME 04210
MULTI_FAMILY - Auburn, ME
Property Size2,714 SF
Lot Size0.09 Acres
Price / SF$158.07
Days on Market34
Property Features for 10 Pearl Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Urban
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Basement, Bathroom 3
Basement
Full, Unfinished
Lot features
Level, Intown, Near Shopping
Standard status
Active
Size
2,714 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5365
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Number of units
3
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Susan Carl
(207) 520-8024
Added: Jul 20
Changed: Aug 17
Last Checked: Aug 22 at 2:06AM
MLS# 1670375
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.
Fully occupied three-unit triplex on 10 Pearl Street featuring a wood frame exterior with vinyl siding. The property is supported by reliable in-place tenancy on a month-to-month basis. Heating is provided by natural gas with baseboard heat, including a regularly serviced furnace in good condition.
The home includes a brand-new hot water heater, and utility services are public water and public sewer. The roof is shingle, and the property was built in 1920.
Set on a 0.09-acre lot with 2,714 square feet of building area, this triplex offers a straightforward investment profile for buyers seeking an income-producing property with existing occupancy.
The home includes a brand-new hot water heater, and utility services are public water and public sewer. The roof is shingle, and the property was built in 1920.
Set on a 0.09-acre lot with 2,714 square feet of building area, this triplex offers a straightforward investment profile for buyers seeking an income-producing property with existing occupancy.
Key Highlights
- Fully occupied three‑unit triplex with in‑place tenants on a month‑to‑month basis
- Natural gas heating with regularly serviced furnace in good condition
- Brand‑new hot water heater
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
$26,768
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
6.24%
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%
$535,360
$535.4K
Cap Rate 7%
$382,400
$382.4K
Cap Rate 9%
$297,422
$297.4K
Market Conditions
NOI Build-Up for 2,714 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
$38.8K $14.28/SF
− Vacancy
−$515 −$0.19/SF
EGI
$38.2K $14.09/SF
− OpEx
−$11.5K −$4.23/SF
NOI
$26.8K $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%
$535,360
Cap Rate 7%
$382,400
Cap Rate 9%
$297,422
Alternative Uses
Best Use
Multifamily LT 5
$382.4K
$334.6K – $446.1K
NOI $26,768 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.9K
NOI $25,433 @ 7.0% cap · market cap 5.93%
Theoretical Best
Warehouse
$4.82M
$4.22M – $5.62M
NOI $337,419 @ 7.0% cap · market cap 78.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
810
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?
Triplex - Fully occupied three-unit triplex with natural gas heating and public water and sewer services on a small Auburn lot.
Where is this triplex located?
The property is located at 10 Pearl Street Auburn, ME.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Fully occupied three‑unit triplex with in‑place tenants on a month‑to‑month basis; Natural gas heating with regularly serviced furnace in good condition; Brand‑new hot water heater
