Turnkey Duplex Investment
154 Madison Street, Auburn, ME 04210
Well-maintained duplex with two units, detached 2-car garage, and public water and sewer—reported $43,000+ in annual gross income.
Type:Multi-family
Property size:
1,913 SFLot size:
0.31 AcresPrice / SF:
$182/SF- Added:
- Apr 27, 2026
- Days on Market:
- 62
- Last Refresh:
- Jun 13 at 4:26 am
Property Features for 154 Madison Street
General Information
- Standard status
- Active
- Size
- 1,913 SF
- Lot size
- 0.31 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing office Keller Williams Realty
Listing date Apr 27, 2026
Source Greatislandrealty
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
HighLights
- Cash‑flowing duplex at 154 Madison Street, reported $43,000+ in annual gross income
- Two well‑maintained units with 6 bedrooms total and 2 full bathrooms
- Detached 2‑car garage plus vinyl siding and updated windows
- 0.31‑acre lot with public water and sewer
- Includes a deck with scenic views
Overview
This turnkey duplex at 154 Madison Street offers two well-maintained units with a total of 6 bedrooms and 2 full bathrooms. Updates include vinyl siding and updated windows, and the property also features a great deck for outdoor use. A spacious detached 2-car garage adds practical off-street parking and storage value, complementing the residential income setup.
The home sits on a 0.31-acre lot with public water and sewer services. The seller also describes the property as being in the heart of Auburn, supported by the property’s specific address and neighborhood reference in the remarks.
For investors or owner-operators seeking an income-producing residential asset with a straightforward duplex configuration, this property provides two separate units within one building structure. The current offering is marketed with reported annual gross income of $43,000+ and is presented as ready for immediate management. Overall, the combination of duplex layout, basic site utilities, and practical improvements such as the detached garage and deck makes the property easier to position for ongoing tenant use and day-to-day operations.
The home sits on a 0.31-acre lot with public water and sewer services. The seller also describes the property as being in the heart of Auburn, supported by the property’s specific address and neighborhood reference in the remarks.
For investors or owner-operators seeking an income-producing residential asset with a straightforward duplex configuration, this property provides two separate units within one building structure. The current offering is marketed with reported annual gross income of $43,000+ and is presented as ready for immediate management. Overall, the combination of duplex layout, basic site utilities, and practical improvements such as the detached garage and deck makes the property easier to position for ongoing tenant use and day-to-day operations.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.3k | $14.28 |
| − Vacancy | −$363 | −$0.19 |
| EGI | $27.0k | $14.09 |
| − OpEx | −$8.1k | −$4.23 |
| NOI | $18.9k | $9.86 |
1,913 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$269.5K
$235.9K – $314.5K
NOI $18,868 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$256.1K
$224.1K – $298.8K
NOI $17,927 @ 7.0% cap · market cap 5.12%
Theoretical Best
Warehouse
$3.40M
$2.97M – $3.96M
NOI $237,834 @ 7.0% cap · market cap 67.95%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Auburn
- County
- Androscoggin
- State
- Maine
- Longitude
- -70.2354202
- Latitude
- 44.086165
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained duplex with two units, detached 2-car garage, and public water and sewer—reported $43,000+ in annual gross income.
Where is this duplex located?
The property is located at 154 Madison Street Auburn, ME.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Cash‑flowing duplex at 154 Madison Street, reported $43,000+ in annual gross income; Two well‑maintained units with 6 bedrooms total and 2 full bathrooms; Detached 2‑car garage plus vinyl siding and updated windows
