Detached Duplex with
New
For Sale
$435,000
38 Towle St, Auburn, ME 04210
Two separate residences provide flexible space for owner occupancy, extended living arrangements, or rental use.
Property Size1,776 SF
Lot Size0.34 Acres
Price / SF$244.93
Days on Market6
Property Features for 38 Towle St
General Information
Standard status
Active
Size
1,776 SF
Lot size
0.34 Acres
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1957
Buildings
2
Listing Agency:
(207) 885-0500
Listed By:
Signature Homes Real Estate Group · License #BA917314
(207) 885-0500
Source:
Signaturehomesmaine
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 4:40PM
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 Signature Homes Real Estate Group
Investment Insights
Based on property information with market context.
This Auburn duplex property includes two detached residences on a 0.34-acre lot. The primary home offers five bedrooms, while the separate cottage includes one bedroom and one bathroom. The property contains 1,776 square feet and was built in 1957.
Located at 38 Towle St in Auburn, Maine, the offering combines a larger main residence with an independent cottage in a single-property configuration. The two-home layout supports a range of residential occupancy arrangements while keeping the dwellings physically separate.
Located at 38 Towle St in Auburn, Maine, the offering combines a larger main residence with an independent cottage in a single-property configuration. The two-home layout supports a range of residential occupancy arrangements while keeping the dwellings physically separate.
Key Highlights
- Two detached residences on a 0.34‑acre lot
- Main residence with 5 bedrooms
- Detached cottage with 1 bedroom and 1 bathroom
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
$17,517
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
4.03%
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%
$350,340
$350.3K
Cap Rate 7%
$250,243
$250.2K
Cap Rate 9%
$194,633
$194.6K
Market Conditions
NOI Build-Up for 1,776 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
$25.4K $14.28/SF
− Vacancy
−$337 −$0.19/SF
EGI
$25.0K $14.09/SF
− OpEx
−$7.5K −$4.23/SF
NOI
$17.5K $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%
$350,340
Cap Rate 7%
$250,243
Cap Rate 9%
$194,633
Alternative Uses
Best Use
Multifamily LT 5
$250.2K
$219.0K – $292.0K
NOI $17,517 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$237.8K
$208.0K – $277.4K
NOI $16,643 @ 7.0% cap · market cap 3.83%
Theoretical Best
Warehouse
$3.15M
$2.76M – $3.68M
NOI $220,802 @ 7.0% cap · market cap 50.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
303
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 separate residences provide flexible space for owner occupancy, extended living arrangements, or rental use.
Where is this duplex located?
The property is located at 38 Towle St Auburn, ME.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two detached residences on a 0.34‑acre lot; Main residence with 5 bedrooms; Detached cottage with 1 bedroom and 1 bathroom
