Refreshed Two-Unit
New
For Sale
$394,900
32 Cook Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size2,434 SF
Lot Size0.07 Acres
Price / SF$162.24
Days on Market3
Property Features for 32 Cook Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
T-4.2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
Storage
Basement
Full, Unfinished
Lot features
Corner Lot, Sidewalks, Intown, Near Shopping, Near Turnpike/ Interstate, Neighborhood
Standard status
Active
Size
2,434 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3544
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
laundry hookups
on-site parking
additional storage building
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle, Rolled Hot Mop, Flat
Additional Structures
Outbuilding, Storage
Listing Agency:
EXP Realty
(888) 439-8743
Listed By:
Garret Getch
(207) 841-9433
Added: Sep 8
Last Checked: Sep 10 at 6:06AM
MLS# 1679711
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 1920 wood-frame duplex contains 2,434 square feet on a 0.07-acre lot. Both units have refreshed finishes, including new paint, flooring, and appliances, along with laundry hookups. The property also includes a basement, on-site parking, a separate storage building, and deck and porch areas. Vinyl siding and maintained deck areas contribute to the exterior improvements.
The property is located in Auburn near shopping and local amenities, with access to I-95 nearby. Public water and public sewer serve the property. Zoning is T-4.2. Interior and exterior materials include carpet, tile, vinyl flooring, vinyl siding, and a combination of shingle, rolled hot mop, and flat roofing.
The property is located in Auburn near shopping and local amenities, with access to I-95 nearby. Public water and public sewer serve the property. Zoning is T-4.2. Interior and exterior materials include carpet, tile, vinyl flooring, vinyl siding, and a combination of shingle, rolled hot mop, and flat roofing.
Key Highlights
- Two‑unit duplex with 2,434 square feet
- 0.07‑acre lot in Auburn, ME
- Both units updated with new paint, flooring, and appliances
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
$24,007
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
6.08%
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%
$480,140
$480.1K
Cap Rate 7%
$342,957
$343.0K
Cap Rate 9%
$266,744
$266.7K
Market Conditions
NOI Build-Up for 2,434 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
$34.8K $14.28/SF
− Vacancy
−$462 −$0.19/SF
EGI
$34.3K $14.09/SF
− OpEx
−$10.3K −$4.23/SF
NOI
$24.0K $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%
$480,140
Cap Rate 7%
$342,957
Cap Rate 9%
$266,744
Alternative Uses
Best Use
Multifamily LT 5
$343.0K
$300.1K – $400.1K
NOI $24,007 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$325.8K
$285.1K – $380.2K
NOI $22,809 @ 7.0% cap · market cap 5.78%
Theoretical Best
Warehouse
$4.32M
$3.78M – $5.04M
NOI $302,608 @ 7.0% cap · market cap 76.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
528
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Updated interiors, laundry hookups, on-site parking, and a separate storage building support practical two-unit living.
Where is this duplex located?
The property is located at 32 Cook Street Auburn, ME.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,434 square feet; 0.07‑acre lot in Auburn, ME; Both units updated with new paint, flooring, and appliances
