Two-Unit Apartment
New
For Sale
$249,900
163 Broad Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size1,632 SF
Lot Size0.09 Acres
Price / SF$153.13
Days on Market7
Property Features for 163 Broad Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
T-4.2
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Parking features
Off Street
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
1st Floor Bedroom
Basement
Full, Unfinished
Lot features
Open, Corner Lot, Level, Intown, Near Shopping, Neighborhood
Standard status
Active
Size
1,632 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4179
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1948
Floors in Building
3
Number of units
2
Flooring type
Tile, Wood, Carpet, Vinyl
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Stephen Kenney
(207) 754-8340
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 31 at 10:06AM
MLS# 1677720
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 two-unit apartment property contains 1,632 square feet within a wood-frame building constructed in 1948. The residence includes a first-floor bedroom, two bathrooms, a basement, and a mix of carpet, tile, wood, and vinyl flooring. Natural-gas hot-water baseboard heat serves the building, while a shingle roof, wood siding, public water, and public sewer complete the core improvements. Cosmetic updating is needed.
The property sits at 163 Broad Street in Auburn, near Pulsifer Baseball Field. Shopping, restaurants, and Turnpike access are identified nearby. Off-street parking is available for tenants, and the exterior includes both a deck and porch.
The property sits at 163 Broad Street in Auburn, near Pulsifer Baseball Field. Shopping, restaurants, and Turnpike access are identified nearby. Off-street parking is available for tenants, and the exterior includes both a deck and porch.
Key Highlights
- Two‑unit apartment building with 1,632 square feet
- Built in 1948 with wood‑frame construction and wood siding
- T‑4.2 zoning
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
$16,097
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
6.44%
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%
$321,940
$321.9K
Cap Rate 7%
$229,957
$230.0K
Cap Rate 9%
$178,856
$178.9K
Market Conditions
NOI Build-Up for 1,632 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
$23.3K $14.28/SF
− Vacancy
−$310 −$0.19/SF
EGI
$23.0K $14.09/SF
− OpEx
−$6.9K −$4.23/SF
NOI
$16.1K $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%
$321,940
Cap Rate 7%
$229,957
Cap Rate 9%
$178,856
Alternative Uses
Best Use
Multifamily LT 5
$230.0K
$201.2K – $268.3K
NOI $16,097 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$218.5K
$191.2K – $254.9K
NOI $15,293 @ 7.0% cap · market cap 6.12%
Theoretical Best
Warehouse
$2.90M
$2.54M – $3.38M
NOI $202,899 @ 7.0% cap · market cap 81.19%
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
276
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 - Wood-frame duplex with off-street parking, separate living spaces, and a deck and porch.
Where is this duplex located?
The property is located at 163 Broad Street Auburn, ME.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit apartment building with 1,632 square feet; Built in 1948 with wood‑frame construction and wood siding; T‑4.2 zoning
