Two-Unit Duplex on Double
For Sale
$434,900
104 S Main Street, Auburn, ME 04210
Two-unit duplex with a new roof, walk-out basement, and double lot with additional road frontage.
Property Size2,552 SF
Price / SF$170.42
Days on Market129
Property Features for 104 S Main Street
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Faith Fontaine
(603) 433-3350
Source:
Greatislandrealty
Added: Apr 6
Changed: Aug 11
Last Checked: Aug 12 at 4:07AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
104 S Main Street in Auburn, ME presents a spacious, well-maintained two-unit duplex configured as a first-floor and second-floor residence on a double lot. The first-floor unit is currently vacant and features three bedrooms and a large eat-in kitchen, along with a walk-in sauna located in the bathroom. The second-floor unit offers a bright layout with a double living room, two bedrooms, a large eat-in kitchen, and abundant storage throughout. Additional improvements include a new roof, and the property includes a large walk-out basement that provides direct access to the expansive backyard, along with parking options including on-site and street availability.
The property is set “intown” and benefits from additional road frontage on Fulton Street, providing flexibility for access and future use of the outdoor area. The listing also notes convenient proximity to schools, shopping, restaurants, the turnpike, and other local amenities.
This building can suit investors seeking a two-unit rental property with the advantage of a currently vacant first-floor unit, as well as owner-occupants who prefer the ability to live in one unit while using the other for rental income. With ample yard space, multiple bedrooms across both units, and straightforward basement access to the outdoors, the duplex offers practical space and day-to-day livability for a range of tenant and owner scenarios.
The property is set “intown” and benefits from additional road frontage on Fulton Street, providing flexibility for access and future use of the outdoor area. The listing also notes convenient proximity to schools, shopping, restaurants, the turnpike, and other local amenities.
This building can suit investors seeking a two-unit rental property with the advantage of a currently vacant first-floor unit, as well as owner-occupants who prefer the ability to live in one unit while using the other for rental income. With ample yard space, multiple bedrooms across both units, and straightforward basement access to the outdoors, the duplex offers practical space and day-to-day livability for a range of tenant and owner scenarios.
Key Highlights
- Two‑unit property on a double lot with additional road frontage on Fulton Street
- First‑floor unit has 3 bedrooms and a large eat‑in kitchen; currently vacant for owner occupancy or tenant selection
- Second‑floor unit features a double living room, 2 bedrooms, a large eat‑in kitchen, and abundant storage
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
$25,171
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
5.79%
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%
$503,420
$503.4K
Cap Rate 7%
$359,586
$359.6K
Cap Rate 9%
$279,678
$279.7K
Market Conditions
NOI Build-Up for 2,552 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
$36.4K $14.28/SF
− Vacancy
−$485 −$0.19/SF
EGI
$36.0K $14.09/SF
− OpEx
−$10.8K −$4.23/SF
NOI
$25.2K $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%
$503,420
Cap Rate 7%
$359,586
Cap Rate 9%
$279,678
Alternative Uses
Best Use
Multifamily LT 5
$359.6K
$314.6K – $419.5K
NOI $25,171 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$341.6K
$298.9K – $398.6K
NOI $23,915 @ 7.0% cap · market cap 5.50%
Theoretical Best
Warehouse
$4.53M
$3.97M – $5.29M
NOI $317,278 @ 7.0% cap · market cap 72.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
330
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 - Two-unit duplex with a new roof, walk-out basement, and double lot with additional road frontage.
Where is this duplex located?
The property is located at 104 S Main Street Auburn, ME.
What is the asking price?
The asking price for this property is $434,900.
What are key features of this property?
This property features: Two‑unit property on a double lot with additional road frontage on Fulton Street; First‑floor unit has 3 bedrooms and a large eat‑in kitchen; currently vacant for owner occupancy or tenant selection; Second‑floor unit features a double living room, 2 bedrooms, a large eat‑in kitchen, and abundant storage
