Two-Unit Duplex with
New
For Sale
$229,999
7 Cross Street, Augusta, ME 04330
Multi-Family, Augusta, ME
Property Size1,407 SF
Lot Size0.15 Acres
Price / SF$163.47
Days on Market6
Property Features for 7 Cross Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
BP
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement
Parking features
Off Street
Basement
Unfinished, Dirt Floor
Lot features
Level, Near Town, Neighborhood
Standard status
Active
Size
1,407 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2194
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil
Water source
Public
Amenities
washer/dryer hookups
Building Details
Year built
1859
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Coldwell Banker Plourde Real Estate · Coldwell Banker Real Estate
(207) 872-7650
Listed By:
Amy Pottle
(207) 314-7180
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 8 at 4:06PM
MLS# 1679056
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 1,407-square-foot duplex contains two separate units, with one positioned upstairs and the other on the lower level. Each residence includes two bedrooms, one full bathroom, a living room, and a kitchen, along with washer and dryer hookups. Recent work includes updated flooring in some areas and all-new double-pane windows. Refrigerators and stoves in both units convey with the sale, while the upstairs washer and dryer are also included.
Built in 1859, the property occupies 0.15 acres and has wood-frame construction with vinyl siding, shingle roofing, carpet and vinyl flooring, oil baseboard heat, public water, and public sewer. Off-street parking is available, and the property is zoned BP. The location provides access to the interstate, shopping centers, grocery stores, a hospital, and local dining.
Built in 1859, the property occupies 0.15 acres and has wood-frame construction with vinyl siding, shingle roofing, carpet and vinyl flooring, oil baseboard heat, public water, and public sewer. Off-street parking is available, and the property is zoned BP. The location provides access to the interstate, shopping centers, grocery stores, a hospital, and local dining.
Key Highlights
- Two‑unit duplex with one upper and one lower residence
- Each unit includes 2 bedrooms, 1 full bath, living room, kitchen, and washer/dryer hookups
- 1,407 square feet on 0.15 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
$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
Property Profile
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
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?
Duplex - Fully occupied property with two-bedroom layouts, private kitchens, laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 7 Cross Street 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, kitchen, and washer/dryer hookups; 1,407 square feet on 0.15 acres
