Riverfront Two-Unit
For Sale
$250,000
595 N River Road, Auburn, ME 04210
Renovation project with river and pond frontage.
Property Size2,192 SF
Lot Size9.00 Acres
Price / SF$114.05
Days on Market8
Property Features for 595 N River Road
General Information
Standard status
Active
Size
2,192 SF
Lot size
9.00 Acres
Property subtype
Multi-family
Property Condition
Severity
Major Repairs Needed
Evidence
ready for a full renovation
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
Colonial
Farmhouse
Building Details
Year Built
1860
Construction
farmhouse
Listing Agency:
(207) 376-7255
Listed By:
Sierra Lemieux · License #BA917314
(207) 376-7255
Source:
Brendafontaine
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 28 at 8:22PM
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 Sierra Lemieux
Investment Insights
Based on property information with market context.
This 2,192-square-foot duplex is an 1860 farmhouse configured as two units and requiring a full renovation. The property includes vinyl siding, a metal roof, a Generac generator, and an updated well and septic system completed in 2006/2007. Its layout can support continued two-unit use or conversion into a single-family residence, subject to the buyer’s plans and applicable requirements.
The property encompasses 9+/- acres at 595 N River Rd in Auburn, Maine, with over 1,000 feet of combined waterfront along the Androscoggin River and a river-fed pond. The setting also includes fields associated with the property’s former working homestead use. The residence has remained with the same family since 1961.
The property encompasses 9+/- acres at 595 N River Rd in Auburn, Maine, with over 1,000 feet of combined waterfront along the Androscoggin River and a river-fed pond. The setting also includes fields associated with the property’s former working homestead use. The residence has remained with the same family since 1961.
Key Highlights
- 2,192‑square‑foot duplex farmhouse built in 1860
- 9+/- acres with over 1,000 feet of combined waterfrontage
- Androscoggin River frontage plus a river‑fed pond
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
$21,620
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
8.65%
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%
$432,400
$432.4K
Cap Rate 7%
$308,857
$308.9K
Cap Rate 9%
$240,222
$240.2K
Market Conditions
NOI Build-Up for 2,192 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
$31.3K $14.28/SF
− Vacancy
−$416 −$0.19/SF
EGI
$30.9K $14.09/SF
− OpEx
−$9.3K −$4.23/SF
NOI
$21.6K $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%
$432,400
Cap Rate 7%
$308,857
Cap Rate 9%
$240,222
Alternative Uses
Best Use
Multifamily LT 5
$308.9K
$270.3K – $360.3K
NOI $21,620 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$293.4K
$256.8K – $342.4K
NOI $20,541 @ 7.0% cap · market cap 8.22%
Theoretical Best
Warehouse
$3.89M
$3.41M – $4.54M
NOI $272,521 @ 7.0% cap · market cap 109.01%
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
324
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 - Renovation project with river and pond frontage.
Where is this duplex located?
The property is located at 595 N River Road Auburn, ME.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,192‑square‑foot duplex farmhouse built in 1860; 9+/- acres with over 1,000 feet of combined waterfrontage; Androscoggin River frontage plus a river‑fed pond
