Cape-Style Three-Unit Income
For Sale
$364,500
25 Eighth Street, Auburn, ME 04210
Three-unit Cape with shared laundry, yard, pool, and detached workshop with conversion plans.
Property Size2,464 SF
Lot Size0.50 Acres
Price / SF$147.93
Days on Market97
Property Features for 25 Eighth Street
General Information
Standard status
Active
Size
2,464 SF
Lot size
0.50 Acres
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1949
Tenancy
Multi
Listing Agency:
The Real Estate Store
Listed By:
Elizabeth Marks
(603) 433-3350
Source:
Greatislandrealty
Added: Apr 26
Changed: Jul 10
Last Checked: Jul 17 at 10:04AM
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 The Real Estate Store
Investment Insights
Based on property information with market context.
This Cape-style residential income property offers three existing units with practical separation across two primary levels and a lower-level apartment. The first-floor unit is a 2-bedroom, 1-bath layout, the second-floor unit is also a 2-bedroom, 1-bath layout, and the lower-level unit offers a 1-bedroom, 1-bath configuration. A shared laundry area is available for all tenants. Outside amenities include a large yard and an in-ground pool, with the pool and pool house currently in need of renovation.
The home sits on a spacious 0.5-acre lot at the end of a quiet dead-end street, providing a more private setting. Addressed at 25 Eighth Street in Auburn, ME 04210, the property is positioned for tenants who value a residential feel while still benefiting from an income-focused configuration.
In addition to the three units, there is a detached 1,200 sq ft workshop/barn with an additional 1,200 sq ft walk-out garage level below. Architectural plans have already been drafted to convert this structure into a 2,400 sq ft two-unit building, supporting an expansion concept for either an investor seeking additional rental income or an owner-occupant planning a multi-generational setup.
The home sits on a spacious 0.5-acre lot at the end of a quiet dead-end street, providing a more private setting. Addressed at 25 Eighth Street in Auburn, ME 04210, the property is positioned for tenants who value a residential feel while still benefiting from an income-focused configuration.
In addition to the three units, there is a detached 1,200 sq ft workshop/barn with an additional 1,200 sq ft walk-out garage level below. Architectural plans have already been drafted to convert this structure into a 2,400 sq ft two-unit building, supporting an expansion concept for either an investor seeking additional rental income or an owner-occupant planning a multi-generational setup.
Key Highlights
- 1949 Cape‑style 3‑unit property with first‑floor 2BD/1BA, second‑floor 2BD/1BA, and lower‑level 1BD/1BA units
- Shared laundry area for all tenants
- Set on a 0.5‑acre lot at the end of a quiet dead‑end street with a large yard and in‑ground pool (pool and pool house need renovation)
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 | $35.2k | $14.28 |
| − Vacancy | −$468 | −$0.19 |
| EGI | $34.7k | $14.09 |
| − OpEx | −$10.4k | −$4.23 |
| NOI | $24.3k | $9.86 |
2,464 SF · lease $14.28/SF/yr · vacancy 1.33% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$347.2K
$303.8K – $405.1K
NOI $24,303 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$329.9K
$288.6K – $384.8K
NOI $23,090 @ 7.0% cap · market cap 6.33%
Theoretical Best
Warehouse
$4.38M
$3.83M – $5.11M
NOI $306,337 @ 7.0% cap · market cap 84.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
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?
Triplex - Three-unit Cape with shared laundry, yard, pool, and detached workshop with conversion plans.
Where is this triplex located?
The property is located at 25 Eighth Street Auburn, ME.
What is the asking price?
The asking price for this property is $364,500.
What are key features of this property?
This property features: 1949 Cape‑style 3‑unit property with first‑floor 2BD/1BA, second‑floor 2BD/1BA, and lower‑level 1BD/1BA units; Shared laundry area for all tenants; Set on a 0.5‑acre lot at the end of a quiet dead‑end street with a large yard and in‑ground pool (pool and pool house need renovation)
