Duplex with Enclosed
For Sale
$329,900
215 Cook St, Auburn, ME 04210
Two-bedroom units with updated roof and heating system on a level lot.
Property Size1,904 SF
Lot Size0.30 Acres
Price / SF$173.27
Days on Market42
Property Features for 215 Cook St
General Information
Standard status
Active
Size
1,904 SF
Lot size
0.30 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
enclosed porches
large yard
Building Details
Year Built
1947
Buildings
1
Stories
2
Listing Agency:
Better Homes & Gardens Real Estate/The Masiello Group
(207) 795-9644
Listed By:
Linda Davis
Source:
Aroostookrealestate
Added: Jul 21
Changed: Aug 27
Last Checked: Aug 30 at 8:18PM
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 Better Homes & Gardens Real Estate/The Masiello Group
Investment Insights
Based on property information with market context.
This duplex contains 1,904 square feet across two units, with each residence offering 2 bedrooms, 1 full bath, and bright living areas. Enclosed porches on both the first and second floors add flexible space beyond the primary interiors. The property was built in 1947 and has received updates to the roof and heating system.
Set on a 0.30-acre level lot, the property includes a broad, flat yard with room for outdoor activities and gardening. Its location at 215 Cook St in Auburn places it near schools, hospitals, and turnpike access. The two-unit layout and separate residential spaces provide a practical configuration for multifamily ownership.
Set on a 0.30-acre level lot, the property includes a broad, flat yard with room for outdoor activities and gardening. Its location at 215 Cook St in Auburn places it near schools, hospitals, and turnpike access. The two-unit layout and separate residential spaces provide a practical configuration for multifamily ownership.
Key Highlights
- Duplex with 1,904 square feet and two residential units
- Each unit includes 2 bedrooms and 1 full bath
- Enclosed porches on both the first and second floors
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
$18,779
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
5.69%
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%
$375,580
$375.6K
Cap Rate 7%
$268,271
$268.3K
Cap Rate 9%
$208,656
$208.7K
Market Conditions
NOI Build-Up for 1,904 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
$27.2K $14.28/SF
− Vacancy
−$362 −$0.19/SF
EGI
$26.8K $14.09/SF
− OpEx
−$8.0K −$4.23/SF
NOI
$18.8K $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%
$375,580
Cap Rate 7%
$268,271
Cap Rate 9%
$208,656
Alternative Uses
Best Use
Multifamily LT 5
$268.3K
$234.7K – $313.0K
NOI $18,779 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$254.9K
$223.0K – $297.4K
NOI $17,842 @ 7.0% cap · market cap 5.41%
Theoretical Best
Warehouse
$3.38M
$2.96M – $3.95M
NOI $236,715 @ 7.0% cap · market cap 71.75%
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
152
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 - Two-bedroom units with updated roof and heating system on a level lot.
Where is this duplex located?
The property is located at 215 Cook St Auburn, ME.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Duplex with 1,904 square feet and two residential units; Each unit includes 2 bedrooms and 1 full bath; Enclosed porches on both the first and second floors
