Victorian
For Sale
$405,000
21 Laurel Avenue, Auburn, ME 04210
MULTI_FAMILY - Victorian - Auburn, ME
Property Size3,713 SF
Lot Size0.17 Acres
Price / SF$109.08
Days on Market29
Property Features for 21 Laurel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2
Parking features
Off Street
Interior features
Bathtub, Pantry, Storage
Fencing
Fenced
Basement
Unfinished, Full
Lot features
Well Landscaped, Intown, Near Town, Neighborhood
Standard status
Active
Size
3,713 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4702
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Propane (Heating), Steam, Natural Gas
Water source
Public
Amenities
wood-burning fireplace
fenced backyard
storage shed
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Vinyl, Wood, Hardwood
Building materials
Wood Frame, Wood Siding
Roof type
Shingle
Architectural style
Victorian
Additional Structures
Storage
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
David Marshall
(207) 409-6617
Added: Jul 14
Changed: Aug 7
Last Checked: Aug 11 at 9:06PM
MLS# 1666814
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 Victorian duplex built in 1900 offers a character-rich layout with hardwood and wood flooring, wood siding, and a shingle roof. The building is wood frame construction and includes an owner’s unit spanning multiple floors, plus a second 2-bedroom apartment. Reported interior features include a pantry and storage, with natural gas and other heating types listed, along with a wood-burning fireplace. The property also includes a basement and at least two bathrooms.
Site amenities include public sewer and public water, a paved driveway, off-street parking, and a fully fenced backyard. A storage shed is also on-site. The lot size is 0.17 acres, and the property size is 3,713 square feet.
The second unit is leased through October and is producing rental income. The home is described as being in an intown Auburn setting within walking distance to downtown destinations and the Androscoggin Riverwalk trail system.
Site amenities include public sewer and public water, a paved driveway, off-street parking, and a fully fenced backyard. A storage shed is also on-site. The lot size is 0.17 acres, and the property size is 3,713 square feet.
The second unit is leased through October and is producing rental income. The home is described as being in an intown Auburn setting within walking distance to downtown destinations and the Androscoggin Riverwalk trail system.
Key Highlights
- 3,713 SF duplex with an owner’s unit spanning multiple floors
- 0.17‑acre lot with fully fenced backyard
- Built in 1900, Victorian architectural style
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
$36,622
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
9.04%
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%
$732,440
$732.4K
Cap Rate 7%
$523,171
$523.2K
Cap Rate 9%
$406,911
$406.9K
Market Conditions
NOI Build-Up for 3,713 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
$53.0K $14.28/SF
− Vacancy
−$705 −$0.19/SF
EGI
$52.3K $14.09/SF
− OpEx
−$15.7K −$4.23/SF
NOI
$36.6K $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%
$732,440
Cap Rate 7%
$523,171
Cap Rate 9%
$406,911
Alternative Uses
Best Use
Multifamily LT 5
$523.2K
$457.8K – $610.4K
NOI $36,622 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$497.1K
$434.9K – $579.9K
NOI $34,794 @ 7.0% cap · market cap 8.59%
Theoretical Best
Warehouse
$6.59M
$5.77M – $7.69M
NOI $461,620 @ 7.0% cap · market cap 113.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,300
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
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Frequently Asked Questions
What type of property is this?
Duplex - A Victorian duplex in R3 zoning with public sewer and water, off-street parking, and a fully fenced backyard.
Where is this duplex located?
The property is located at 21 Laurel Avenue Auburn, ME.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: 3,713 SF duplex with an owner’s unit spanning multiple floors; 0.17‑acre lot with fully fenced backyard; Built in 1900, Victorian architectural style
