Victorian Duplex with Attached
For Sale
$349,000
48 Drummond Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size2,500 SF
Lot Size0.16 Acres
Price / SF$139.60
Days on Market53
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
Basement, Bathroom 1, Bathroom 3, Bathroom 2
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
Changed: Sep 16
Last Checked: Sep 26 at 6:06PM
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 2,500 square feet on a 0.16-acre parcel. The property includes two units, an attached garage, a porch, basement space, and off-street parking. Interior details include wood, vinyl, and carpet flooring, natural-gas forced-air heat, three bathrooms, and bedrooms on the first floor. Wood-frame construction with vinyl siding and a shingle roof completes the exterior.
Located at 48 Drummond Street in Auburn, the property is near downtown, shopping, restaurants, parks, and major commuter routes. Public water and public sewer serve the property, and the zoning is Urban Res.
The configuration supports use as a two-unit income property, with the source information also describing the layout as adaptable for conversion to one larger residence. The property may suit an owner-occupant, multi-generational household, or investor seeking a residential income asset.
Located at 48 Drummond Street in Auburn, the property is near downtown, shopping, restaurants, parks, and major commuter routes. Public water and public sewer serve the property, and the zoning is Urban Res.
The configuration supports use as a two-unit income property, with the source information also describing the layout as adaptable for conversion to one larger residence. The property may suit an owner-occupant, multi-generational household, or investor seeking a residential income asset.
Key Highlights
- Two‑unit duplex with 2,500 square feet of property size
- 0.16‑acre parcel at 48 Drummond Street, Auburn, ME 04210
- Built in 1880 with Victorian architectural style
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with public utilities, off-street parking, and a flexible layout for investment or owner occupancy.
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 duplex with 2,500 square feet of property size; 0.16‑acre parcel at 48 Drummond Street, Auburn, ME 04210; Built in 1880 with Victorian architectural style
