Updated Three-Unit
51 Ninth Street, Auburn, ME 04210
For Sale
$485,000
All three residences have private in-unit laundry, with separate electric service for the property.
Property Size2,575 SF
Lot Size0.37 Acres
Price / SF$188.35
Days on Market122
Property Features for 51 Ninth Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
in-unit washer/dryer
covered porches
private storage
bay windows
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
The Atlantic Real Estate Network
(207) 878-8800
Listed By:
Jenna Segal
(207) 233-6652
Source:
Integrityhomesrealestategroup
Added: Jul 15
Changed: Nov 11
Last Checked: Nov 12 at 9:13PM
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 Atlantic Real Estate Network
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Investment Insights
Based on property information with market context.
This 2,575-square-foot triplex, built in 1920, contains two 3-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. Each residence has a bay window and its own washer and dryer. Units 2 and 3 include covered porches with private storage. Property updates include a new hot water heater and freshly painted decks; the building is served by separate electric service.
The property occupies a 0.37-acre lot with off-street parking for up to six vehicles. Downtown amenities, parks, ballfields, shopping, and major transportation routes are described as minutes away. The zoning designation is MFU.
The property occupies a 0.37-acre lot with off-street parking for up to six vehicles. Downtown amenities, parks, ballfields, shopping, and major transportation routes are described as minutes away. The zoning designation is MFU.
Key Highlights
- Three units: two 3‑bedroom, 1‑bath residences and one 2‑bedroom, 1‑bath residence
- 2,575 square feet; built in 1920
- 0.37‑acre lot with off‑street parking for up to six vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,397
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$507,940
$507.9K
Cap Rate 7%
$362,814
$362.8K
Cap Rate 9%
$282,189
$282.2K
Market Conditions
NOI Build-Up for 2,575 SF
Gross rent
$36.8K $14.28/SF
− Vacancy
−$489 −$0.19/SF
EGI
$36.3K $14.09/SF
− OpEx
−$10.9K −$4.23/SF
NOI
$25.4K $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 Rate 5%
$507,940
Cap Rate 7%
$362,814
Cap Rate 9%
$282,189
Alternative Uses
Best Use
Multifamily LT 5
$362.8K
$317.5K – $423.3K
NOI $25,397 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$344.7K
$301.6K – $402.2K
NOI $24,130 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$800.9K
$700.8K – $934.4K
NOI $56,061 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
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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
$254,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Androscoggin County, ME
Properties on Market for Triplexes in Androscoggin County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All three residences have private in-unit laundry, with separate electric service for the property.
Where is this triplex located?
The property is located at 51 Ninth Street Auburn, ME.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three units: two 3‑bedroom, 1‑bath residences and one 2‑bedroom, 1‑bath residence; 2,575 square feet; built in 1920; 0.37‑acre lot with off‑street parking for up to six vehicles
