Corner-Lot
For Sale
$425,000
63 3rd Street, Auburn, ME 04210
Three-unit residential property with updated owner’s quarters, classic detailing, outdoor spaces, and a double lot.
Property Size2,982 SF
Price / SF$142.52
Days on Market155
Property Features for 63 3rd Street
General Information
Standard status
Active
Size
2,982 SF
Property subtype
Multi-Family
Zoning
Res
Taxes and HOA fees
Annual Taxes
$4,645
Amenities
Radiator, Hot Water
2
Full, Unfinished
Wood, Vinyl
1st Floor Bedroom, Pantry
No
Yes
Brick/Mortar
3.00
3
Membrane
Interior
No Vehicle Storage
Outbuilding
Clapboard, Wood Frame
Deck
Building Details
Year Built
1890
Units
3
Listing Agency:
Meservier & Associates
(207) 329-1499
Listed By:
Shawn Boulet
(207) 329-1499
Source:
Compass
Added: Mar 30
Changed: Aug 29
Last Checked: Aug 29 at 7:49PM
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 Meservier & Associates
Investment Insights
Based on property information with market context.
Located at 63 3rd Street in Auburn, this 2,982-square-foot triplex dates to 1890 and occupies a corner position on a double lot. The property includes three units, with the owner’s unit recently renovated and scheduled to be vacant at closing. Interior details include built-in cabinetry, hardwood flooring, tin ceilings, and stone countertops. A high-efficiency natural gas heating system serves the building, with radiator and hot-water heat noted among the improvements.
Multiple porches and decks expand the usable outdoor areas, while an outbuilding provides additional site utility. Exterior construction includes a wood-frame structure with clapboard siding and a membrane roof. The property is zoned Res and includes first-floor bedrooms, pantries, and unfinished basement space.
Multiple porches and decks expand the usable outdoor areas, while an outbuilding provides additional site utility. Exterior construction includes a wood-frame structure with clapboard siding and a membrane roof. The property is zoned Res and includes first-floor bedrooms, pantries, and unfinished basement space.
Key Highlights
- Three‑unit triplex on a corner lot with a double lot
- 2,982‑square‑foot building constructed in 1890
- Recently renovated owner’s unit to be vacant at closing
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
$29,412
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
6.92%
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%
$588,240
$588.2K
Cap Rate 7%
$420,171
$420.2K
Cap Rate 9%
$326,800
$326.8K
Market Conditions
NOI Build-Up for 2,982 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
$42.6K $14.28/SF
− Vacancy
−$566 −$0.19/SF
EGI
$42.0K $14.09/SF
− OpEx
−$12.6K −$4.23/SF
NOI
$29.4K $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 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%
$588,240
Cap Rate 7%
$420,171
Cap Rate 9%
$326,800
Alternative Uses
Best Use
Multifamily LT 5
$420.2K
$367.7K – $490.2K
NOI $29,412 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$399.2K
$349.3K – $465.7K
NOI $27,944 @ 7.0% cap · market cap 6.58%
Theoretical Best
Warehouse
$5.30M
$4.63M – $6.18M
NOI $370,738 @ 7.0% cap · market cap 87.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
528
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with updated owner’s quarters, classic detailing, outdoor spaces, and a double lot.
Where is this triplex located?
The property is located at 63 3rd Street Auburn, ME.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit triplex on a corner lot with a double lot; 2,982‑square‑foot building constructed in 1890; Recently renovated owner’s unit to be vacant at closing
