2-Unit Duplex with
For Sale
$345,000
226 Summer St, Auburn, ME 04210
Two residential units combine classic interior details with private laundry rooms, outdoor porches, and substantial storage areas.
Property Size3,164 SF
Lot Size0.25 Acres
Price / SF$109.04
Days on Market29
Property Features for 226 Summer St
General Information
Standard status
Active
Size
3,164 SF
Lot size
0.25 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
in-unit laundry room
front and back porches
full unfinished basement
unfinished walk-up attic
landscaped yard
Building Details
Year Built
1900
Buildings
1
Listing Agency:
(207) 436-8889
Listed By:
Crown Lakes Realty
(207) 436-8889
Source:
Crownlakesrealty
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 28 at 12:03PM
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 Crown Lakes Realty
Investment Insights
Based on property information with market context.
This 2-unit duplex contains 3,164 square feet and was built in 1900. Each residence offers two bedrooms, one full bathroom, a kitchen with cabinet storage, a dining room, living room, in-unit laundry, and an entry area. Built-ins and hardwood floors add period detail, while front and rear porches extend each unit’s usable space.
The property occupies a 0.25-acre lot with landscaped grounds. A full unfinished basement provides additional storage, and the unfinished walk-up attic offers potential for future expansion subject to local approvals. Quick access to I-95 places the duplex near shopping, dining, schools, and other local amenities.
The property occupies a 0.25-acre lot with landscaped grounds. A full unfinished basement provides additional storage, and the unfinished walk-up attic offers potential for future expansion subject to local approvals. Quick access to I-95 places the duplex near shopping, dining, schools, and other local amenities.
Key Highlights
- Two‑unit duplex with 3,164 square feet, built in 1900
- Each unit includes 2 bedrooms and 1 full bathroom
- Front and rear porches serve both residential units
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
$31,207
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
9.05%
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%
$624,140
$624.1K
Cap Rate 7%
$445,814
$445.8K
Cap Rate 9%
$346,744
$346.7K
Market Conditions
NOI Build-Up for 3,164 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
$45.2K $14.28/SF
− Vacancy
−$601 −$0.19/SF
EGI
$44.6K $14.09/SF
− OpEx
−$13.4K −$4.23/SF
NOI
$31.2K $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%
$624,140
Cap Rate 7%
$445,814
Cap Rate 9%
$346,744
Alternative Uses
Best Use
Multifamily LT 5
$445.8K
$390.1K – $520.1K
NOI $31,207 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$423.6K
$370.6K – $494.2K
NOI $29,650 @ 7.0% cap · market cap 8.59%
Theoretical Best
Warehouse
$5.62M
$4.92M – $6.56M
NOI $393,365 @ 7.0% cap · market cap 114.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units combine classic interior details with private laundry rooms, outdoor porches, and substantial storage areas.
Where is this duplex located?
The property is located at 226 Summer St Auburn, ME.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,164 square feet, built in 1900; Each unit includes 2 bedrooms and 1 full bathroom; Front and rear porches serve both residential units
