Two-Unit Duplex with Updated
For Sale
$315,000
7 Grove St, Auburn, ME 04210
Owner-occupied lower residence pairs with a renovated upper apartment and on-site parking.
Property Size2,268 SF
Price / SF$138.89
Days on Market54
Property Features for 7 Grove St
General Information
Standard status
Active
Size
2,268 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Realty
Listed By:
Michael Cloutier
(207) 808-9488
Source:
603luxury
Added: Aug 23
Changed: Oct 14
Last Checked: Oct 7 at 5:27PM
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 Realty
Investment Insights
Based on property information with market context.
Built in 1920, this 2,268-square-foot duplex contains two residential units. The first-floor apartment is owner occupied and offers two bedrooms, two full bathrooms, a primary suite, kitchen, dining room, living room, and updated bedrooms and baths. The second-floor unit was renovated in 2022 and includes two bedrooms, one full bathroom, and a laundry hookup.
Two paved driveways provide parking for six cars. Exterior improvements include a leveled backyard and newly installed walkway pavers. The washer and dryer in unit one convey with the sale. The property is located in Auburn, Maine, near the amenities of the surrounding community.
Two paved driveways provide parking for six cars. Exterior improvements include a leveled backyard and newly installed walkway pavers. The washer and dryer in unit one convey with the sale. The property is located in Auburn, Maine, near the amenities of the surrounding community.
Key Highlights
- 2,268‑square‑foot duplex built in 1920
- Two residential units with 2 bedrooms each
- First‑floor unit includes 2 full bathrooms and a primary suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,369
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,380
$447.4K
Cap Rate 7%
$319,557
$319.6K
Cap Rate 9%
$248,544
$248.5K
Market Conditions
NOI Build-Up for 2,268 SF
Gross rent
$32.4K $14.28/SF
− Vacancy
−$431 −$0.19/SF
EGI
$32.0K $14.09/SF
− OpEx
−$9.6K −$4.23/SF
NOI
$22.4K $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 Rate 5%
$447,380
Cap Rate 7%
$319,557
Cap Rate 9%
$248,544
Alternative Uses
Best Use
Multifamily LT 5
$319.6K
$279.6K – $372.8K
NOI $22,369 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$303.6K
$265.7K – $354.2K
NOI $21,253 @ 7.0% cap · market cap 6.75%
Theoretical Best
Warehouse
$4.03M
$3.52M – $4.70M
NOI $281,970 @ 7.0% cap · market cap 89.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,338
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
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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 - Owner-occupied lower residence pairs with a renovated upper apartment and on-site parking.
Where is this duplex located?
The property is located at 7 Grove St Auburn, ME.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,268‑square‑foot duplex built in 1920; Two residential units with 2 bedrooms each; First‑floor unit includes 2 full bathrooms and a primary suite
