Six-Unit Multifamily
New
For Sale
$700,000
68 & 72 Mount Vernon Avenue, Augusta, ME 04330
Multi-Family, Augusta, ME
Property Size5,290 SF
Lot Size0.46 Acres
Price / SF$132.33
Days on Market3
Property Features for 68 & 72 Mount Vernon Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RD
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Basement, Bathroom 6, Bathroom 5, Bathroom 2, Bathroom 3, Bathroom 4
Patio and Porch features
Porch
Interior features
Shower
Basement
Unfinished
Lot features
Rolling/ Sloping, Level, Sidewalks, Wooded, Near Shopping, Near Town
Standard status
Active
Size
5,290 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
4763
Utilities
Sewer type
Public Sewer
Heating system
Oil, Hot Water(Heating), Baseboard
Water source
Public
Water front
1
Building Details
Year built
1906
Floors in Building
2
Number of units
6
Flooring type
Wood, Laminate, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Membrane, Flat, Shingle
Listing Agency:
Hoang Realty
(207) 623-0623
Listed By:
Heidi Witham Hoa Hoang
(207) 707-2919
Added: Sep 16
Last Checked: Sep 18 at 10:06AM
MLS# 1680872
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 multifamily offering comprises two buildings totaling six residential units. The property at 68 Mount Vernon Avenue contains two units, while 72 Mount Vernon Avenue contains four. Combined building area is 5,290 square feet on 0.46 acres, with RD zoning.
Constructed in 1906, the buildings feature wood-frame construction with vinyl siding, a mix of wood, laminate, and carpet flooring, and porch areas. Heating is provided by oil-fired hot water and baseboard systems. Roof coverings include membrane, flat, and shingle designs. Public water and public sewer serve the property, which is located in Augusta, Maine.
Constructed in 1906, the buildings feature wood-frame construction with vinyl siding, a mix of wood, laminate, and carpet flooring, and porch areas. Heating is provided by oil-fired hot water and baseboard systems. Roof coverings include membrane, flat, and shingle designs. Public water and public sewer serve the property, which is located in Augusta, Maine.
Key Highlights
- Six total residential units across two buildings
- 68 Mount Vernon Avenue includes 2 units; 72 Mount Vernon Avenue includes 4 units
- 5,290 square feet of combined building area on 0.46 acres
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
$59,077
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
8.44%
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%
$1,181,540
$1.2M
Cap Rate 7%
$843,957
$844.0K
Cap Rate 9%
$656,411
$656.4K
Market Conditions
NOI Build-Up for 5,290 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
$85.7K $16.20/SF
− Vacancy
−$1.3K −$0.25/SF
EGI
$84.4K $15.95/SF
− OpEx
−$25.3K −$4.79/SF
NOI
$59.1K $11.17/SF
Area
Kennebec County, ME
Vacancy
1.52%
Lease Rate
$16.20 /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%
$1,181,540
Cap Rate 7%
$843,957
Cap Rate 9%
$656,411
Alternative Uses
Best Use
Multifamily LT 5
$844.0K
$738.5K – $984.6K
NOI $59,077 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$736.2K
$644.2K – $858.9K
NOI $51,533 @ 7.0% cap · market cap 7.36%
Theoretical Best
Warehouse
$7.89M
$6.91M – $9.21M
NOI $552,452 @ 7.0% cap · market cap 78.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
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?
Multifamily property - Two buildings provide six residential units with public water and sewer service.
Where is this multifamily property located?
The property is located at 68 & 72 Mount Vernon Avenue Augusta, ME.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Six total residential units across two buildings; 68 Mount Vernon Avenue includes 2 units; 72 Mount Vernon Avenue includes 4 units; 5,290 square feet of combined building area on 0.46 acres
