Victorian
For Sale
$450,000
137 S Main Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size3,004 SF
Lot Size0.53 Acres
Price / SF$149.80
Days on Market55
Property Features for 137 S Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Trad Downtown
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Parking features
On Street, Open
Patio and Porch features
Porch, Deck
Basement
Full, Walk-Out Access, Unfinished
Lot features
Well Landscaped, Rolling/ Sloping, Sidewalks, Wooded, Near Turnpike/ Interstate, Near Town, Neighborhood
Standard status
Active
Size
3,004 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4795
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating), Baseboard, Natural Gas
Water source
Public
Amenities
backyard
Building Details
Year built
1890
Number of units
2
Flooring type
Vinyl, Wood, Carpet, Laminate, Tile
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Victorian
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Garret Getch
(207) 841-9433
Added: Aug 3
Changed: Sep 14
Last Checked: Sep 26 at 6:06PM
MLS# 1651341
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.
Built in 1890, this Victorian duplex contains two distinct residential units totaling 3,004 square feet. The unit mix includes one two-bedroom residence and one four-bedroom residence, offering different living configurations within the same property. Wood-frame construction with vinyl siding is complemented by laminate, carpet, wood, vinyl, and tile flooring. Heating is provided by natural gas baseboard and hot water systems.
The property occupies 0.53 acres at 137 S Main Street in Auburn, with public water and public sewer service. Outdoor features include a deck, porch, and spacious backyard area. Open and on-street parking are available, while a shingle roof and basement add to the property's existing improvements. Trad Downtown zoning and the two-unit configuration support either an owner-occupied arrangement or residential income use.
The property occupies 0.53 acres at 137 S Main Street in Auburn, with public water and public sewer service. Outdoor features include a deck, porch, and spacious backyard area. Open and on-street parking are available, while a shingle roof and basement add to the property's existing improvements. Trad Downtown zoning and the two-unit configuration support either an owner-occupied arrangement or residential income use.
Key Highlights
- Two residential units with a 2‑bedroom and 4‑bedroom mix
- 3,004 square feet of property size on 0.53 acres
- Victorian architectural style with 1890 construction date
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
$29,629
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
6.58%
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%
$592,580
$592.6K
Cap Rate 7%
$423,271
$423.3K
Cap Rate 9%
$329,211
$329.2K
Market Conditions
NOI Build-Up for 3,004 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
$42.9K $14.28/SF
− Vacancy
−$571 −$0.19/SF
EGI
$42.3K $14.09/SF
− OpEx
−$12.7K −$4.23/SF
NOI
$29.6K $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%
$592,580
Cap Rate 7%
$423,271
Cap Rate 9%
$329,211
Alternative Uses
Best Use
Multifamily LT 5
$423.3K
$370.4K – $493.8K
NOI $29,629 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$402.1K
$351.9K – $469.2K
NOI $28,150 @ 7.0% cap · market cap 6.26%
Theoretical Best
Warehouse
$5.34M
$4.67M – $6.22M
NOI $373,473 @ 7.0% cap · market cap 82.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
221
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
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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?
Duplex - Separate two- and four-bedroom layouts support owner occupancy or rental use.
Where is this duplex located?
The property is located at 137 S Main Street Auburn, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two residential units with a 2‑bedroom and 4‑bedroom mix; 3,004 square feet of property size on 0.53 acres; Victorian architectural style with 1890 construction date
