Victorian
New
For Sale
$349,000
48 Drummond Street, Auburn, ME 04210
MULTI_FAMILY - Victorian - Auburn, ME
Property Size2,500 SF
Lot Size0.16 Acres
Price / SF$139.60
Days on Market7
Property Features for 48 Drummond Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Urban Res
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Basement
Parking features
Open, Off Street
Patio and Porch features
Porch
Interior features
1st Floor Bedroom, Attic, Bathtub, Pantry, Shower
Basement
Partial
Lot features
Open, Level, Sidewalks, Intown, Near Shopping, Rural
Standard status
Active
Size
2,500 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4704
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Wood
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Victorian
Listing Agency:
Pooley Realty Group
(207) 832-3011
Listed By:
Demetris Webster Jr
(772) 204-4369
Added: Aug 5
Last Checked: Aug 11 at 7:06PM
MLS# 1674794
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.
Built in 1880, this Victorian duplex contains two units within approximately 2,500 square feet on a 0.16-acre lot. The property includes an attached garage, off-street parking, a porch, basement, attic, and three bathrooms. Interior details include wood, vinyl, and carpet flooring, along with forced-air natural gas heat. Wood-frame construction is finished with vinyl siding and topped by a shingle roof.
Public water and public sewer serve the property. Its Auburn setting provides access to downtown, shopping, restaurants, parks, and major commuter routes. The Urban Res zoning designation and two-unit configuration support its existing multifamily use, while the flexible layout is also described as capable of conversion to a single residence.
Public water and public sewer serve the property. Its Auburn setting provides access to downtown, shopping, restaurants, parks, and major commuter routes. The Urban Res zoning designation and two-unit configuration support its existing multifamily use, while the flexible layout is also described as capable of conversion to a single residence.
Key Highlights
- Two‑unit Victorian property built in 1880
- Approximately 2,500 square feet on a 0.16‑acre lot
- Attached garage plus open, off‑street parking
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
$24,658
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
7.07%
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%
$493,160
$493.2K
Cap Rate 7%
$352,257
$352.3K
Cap Rate 9%
$273,978
$274.0K
Market Conditions
NOI Build-Up for 2,500 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
$35.7K $14.28/SF
− Vacancy
−$475 −$0.19/SF
EGI
$35.2K $14.09/SF
− OpEx
−$10.6K −$4.23/SF
NOI
$24.7K $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%
$493,160
Cap Rate 7%
$352,257
Cap Rate 9%
$273,978
Alternative Uses
Best Use
Multifamily LT 5
$352.3K
$308.2K – $411.0K
NOI $24,658 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$334.7K
$292.8K – $390.5K
NOI $23,427 @ 7.0% cap · market cap 6.71%
Theoretical Best
Warehouse
$4.44M
$3.89M – $5.18M
NOI $310,813 @ 7.0% cap · market cap 89.06%
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
877
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-unit property with an attached garage, public utilities, and off-street parking in Auburn.
Where is this duplex located?
The property is located at 48 Drummond Street Auburn, ME.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit Victorian property built in 1880; Approximately 2,500 square feet on a 0.16‑acre lot; Attached garage plus open, off‑street parking
