Updated Two-Unit
New
For Sale
$229,999
7 Cross St, Augusta, ME 04330
Fully occupied duplex with refreshed interiors, separate living spaces, and in-unit laundry hookups for each residence.
Property Size1,407 SF
Price / SF$163.47
Days on Market7
Property Features for 7 Cross St
General Information
Standard status
Active
Size
1,407 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
1859
Listing Agency:
Coldwell Banker Plourde Real Estate
Listed By:
Amy Pottle
(207) 314-7180
Source:
Aroostookrealestate
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 21 at 12:36PM
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 Coldwell Banker Plourde Real Estate
Investment Insights
Based on property information with market context.
Built in 1859, this fully occupied duplex contains an upper residence and a lower residence. Each unit has two bedrooms, one full bathroom, a separate living room, and a kitchen, creating a straightforward two-unit layout. Washer and dryer hookups are provided in both units. Recent work includes updated flooring and all-new double-pane windows, with additional improvements completed throughout the property.
The property is located in Augusta near interstate access, shopping centers, grocery stores, a hospital, and local dining. Refrigerators and stoves in both units convey with the sale, along with the upstairs washer and dryer.
The property is located in Augusta near interstate access, shopping centers, grocery stores, a hospital, and local dining. Refrigerators and stoves in both units convey with the sale, along with the upstairs washer and dryer.
Key Highlights
- Two‑unit duplex with one upper and one lower residence
- Each unit includes 2 bedrooms, 1 full bath, living room, and kitchen
- Washer and dryer hookups in both units
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
$15,713
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
6.83%
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%
$314,260
$314.3K
Cap Rate 7%
$224,471
$224.5K
Cap Rate 9%
$174,589
$174.6K
Market Conditions
NOI Build-Up for 1,407 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
$22.8K $16.20/SF
− Vacancy
−$346 −$0.25/SF
EGI
$22.4K $15.95/SF
− OpEx
−$6.7K −$4.79/SF
NOI
$15.7K $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%
$314,260
Cap Rate 7%
$224,471
Cap Rate 9%
$174,589
Alternative Uses
Best Use
Multifamily LT 5
$224.5K
$196.4K – $261.9K
NOI $15,713 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$195.8K
$171.3K – $228.4K
NOI $13,706 @ 7.0% cap · market cap 5.96%
Theoretical Best
Warehouse
$2.10M
$1.84M – $2.45M
NOI $146,938 @ 7.0% cap · market cap 63.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
905
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?
Duplex - Fully occupied duplex with refreshed interiors, separate living spaces, and in-unit laundry hookups for each residence.
Where is this duplex located?
The property is located at 7 Cross St Augusta, ME.
What is the asking price?
The asking price for this property is $229,999.
What are key features of this property?
This property features: Two‑unit duplex with one upper and one lower residence; Each unit includes 2 bedrooms, 1 full bath, living room, and kitchen; Washer and dryer hookups in both units
