Six-Unit Apartment
New
For Sale
$535,000
12 Swan Street, Augusta, ME 04330
Multi-Family, Augusta, ME
Property Size4,788 SF
Lot Size0.16 Acres
Price / SF$111.74
Days on Market4
Property Features for 12 Swan Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
KBD2
Bathrooms
6
Full bathrooms
6
Rooms
Basement, Bathroom 2, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 6, Bathroom 4
Patio and Porch features
Deck
Basement
Full, Unfinished
Lot features
Corner Lot, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Near Public Transit
Standard status
Active
Size
4,788 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4797
Utilities
Sewer type
Public Sewer
Heating system
Oil, Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1880
Floors in Building
3
Number of units
6
Flooring type
Carpet, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Membrane, Flat
Listing Agency:
Hoang Realty
(207) 623-0623
Listed By:
Anna Moskowitz
(207) 213-9734
Added: Sep 23
Changed: Sep 25
Last Checked: Sep 26 at 5:06PM
MLS# 1681715
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 six-unit apartment building contains 4,788 square feet across six two-bedroom residences. The 1880 property is constructed with a wood frame and vinyl siding, with carpet and vinyl flooring throughout the units. Heating is provided by oil-fired hot water and baseboard systems. A deck, basement, flat membrane roof, and parking area are among the property features.
Set on a 0.16-acre double lot at 12 Swan Street in Augusta, the building is served by public water and public sewer. The property is located in the city of Augusta, within Kennebec County, and carries KBD2 zoning. Each apartment includes a bathroom, while the building’s six-unit configuration provides a consistent residential layout.
Set on a 0.16-acre double lot at 12 Swan Street in Augusta, the building is served by public water and public sewer. The property is located in the city of Augusta, within Kennebec County, and carries KBD2 zoning. Each apartment includes a bathroom, while the building’s six-unit configuration provides a consistent residential layout.
Key Highlights
- Six‑unit apartment building with six two‑bedroom units
- 4,788 square feet on a 0.16‑acre double lot
- Built in 1880 with wood‑frame construction and vinyl siding
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
$46,643
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
8.72%
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%
$932,860
$932.9K
Cap Rate 7%
$666,329
$666.3K
Cap Rate 9%
$518,256
$518.3K
Market Conditions
NOI Build-Up for 4,788 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
$86.2K $18.00/SF
− Vacancy
−$1.4K −$0.29/SF
EGI
$84.8K $17.71/SF
− OpEx
−$38.2K −$7.97/SF
NOI
$46.6K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$932,860
Cap Rate 7%
$666,329
Cap Rate 9%
$518,256
Alternative Uses
Best Use
Apartment 5plus
$666.3K
$583.0K – $777.4K
NOI $46,643 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.14M
$6.25M – $8.33M
NOI $500,026 @ 7.0% cap · market cap 93.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,535
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Six two-bedroom apartments with public utilities, deck space, and on-site parking.
Where is this apartment building located?
The property is located at 12 Swan Street Augusta, ME.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Six‑unit apartment building with six two‑bedroom units; 4,788 square feet on a 0.16‑acre double lot; Built in 1880 with wood‑frame construction and vinyl siding
