Victorian Duplex With
New
For Sale
$349,000
62 Dennison Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size2,804 SF
Lot Size0.11 Acres
Price / SF$124.47
Days on Market5
Property Features for 62 Dennison Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Trad Downtown 4.2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1
Patio and Porch features
Porch
Pets allowed
No
Interior features
1st Floor Bedroom, Attic, Storage
Basement
Unfinished, Full
Lot features
Open, Level, Sidewalks, Intown, Near Shopping, Neighborhood, Near Public Transit
Standard status
Active
Size
2,804 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4045
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1864
Floors in Building
3
Number of units
2
Flooring type
Wood, Vinyl
Building materials
Wood Frame, Asbestos
Roof type
Metal
Architectural style
Victorian
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
John Lawrence · License #3311692
(207) 479-8888
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 26 at 3:06PM
MLS# 1681635
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.
This 2,804-square-foot Victorian duplex, built in 1864, contains two residential units with spacious layouts, hardwood and vinyl flooring, high ceilings, first-floor bedroom space, storage, attic area, basement space, and a porch. Recent improvements include a natural gas boiler, hot water heater, and corrugated metal roof. A two-car garage adds covered parking and storage capacity. The expansive third floor may be incorporated into the second-floor apartment or divided into a third unit, subject to CEO approval.
The property occupies 0.11 acres in Auburn and is adjacent to Chestnut Street Park. Shopping, downtown Auburn, CMCC, and CMMC are nearby, while I-95 is a few minutes away. Public water and public sewer serve the property, which is located in the Trad Downtown 4.2 zoning district.
The property occupies 0.11 acres in Auburn and is adjacent to Chestnut Street Park. Shopping, downtown Auburn, CMCC, and CMMC are nearby, while I-95 is a few minutes away. Public water and public sewer serve the property, which is located in the Trad Downtown 4.2 zoning district.
Key Highlights
- 2,804‑square‑foot duplex on 0.11 acres
- Built in 1864 with Victorian architectural style
- Two residential units with spacious layouts
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
$27,656
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
7.92%
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%
$553,120
$553.1K
Cap Rate 7%
$395,086
$395.1K
Cap Rate 9%
$307,289
$307.3K
Market Conditions
NOI Build-Up for 2,804 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
$40.0K $14.28/SF
− Vacancy
−$533 −$0.19/SF
EGI
$39.5K $14.09/SF
− OpEx
−$11.9K −$4.23/SF
NOI
$27.7K $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%
$553,120
Cap Rate 7%
$395,086
Cap Rate 9%
$307,289
Alternative Uses
Best Use
Multifamily LT 5
$395.1K
$345.7K – $460.9K
NOI $27,656 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$375.4K
$328.5K – $437.9K
NOI $26,276 @ 7.0% cap · market cap 7.53%
Theoretical Best
Warehouse
$4.98M
$4.36M – $5.81M
NOI $348,608 @ 7.0% cap · market cap 99.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
844
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residential units with updated mechanical systems, a third-floor expansion option, and convenient Auburn access.
Where is this duplex located?
The property is located at 62 Dennison 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: 2,804‑square‑foot duplex on 0.11 acres; Built in 1864 with Victorian architectural style; Two residential units with spacious layouts
