Two-Unit Duplex with
For Sale
$315,000
7 Grove Street, Auburn, ME 04210
Multi-Family, Auburn, ME
Property Size2,268 SF
Lot Size0.15 Acres
Price / SF$138.89
Days on Market43
Property Features for 7 Grove Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GB
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Basement
Patio and Porch features
Deck, Porch
Pets allowed
No
Interior features
Walk-in Closets, 1st Floor Bedroom, 1st Floor Primary Bedroom w/Bath, Attic, Bathtub
Basement
Full, Unfinished
Lot features
Open, Corner Lot, Sidewalks, Neighborhood, Shopping Mall
Standard status
Active
Size
2,268 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4869
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Steam
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Wood, Vinyl, Tile - Ceramic, Carpet
Building materials
Wood Frame, Asbestos
Roof type
Shingle
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(207) 773-1990
Listed By:
Michael Cloutier
(207) 808-9488
Added: Jul 20
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 1664023
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 2,268-square-foot duplex contains two residential units within a wood-frame building constructed in 1920. The first-floor residence has two bedrooms, two full bathrooms, an updated kitchen, dining and living areas, and a primary suite with its own bathroom. The second-floor unit includes two bedrooms, one full bathroom, and a laundry hookup; that unit was renovated in 2022.
The property occupies 0.15 acres in Auburn and is served by public water and public sewer. Two paved driveways accommodate six cars, while the leveled rear yard includes new walkway pavers. Additional features include a deck, porch, basement, shingle roof, natural-gas steam heat, and a washer and dryer conveying with the sale.
The property occupies 0.15 acres in Auburn and is served by public water and public sewer. Two paved driveways accommodate six cars, while the leveled rear yard includes new walkway pavers. Additional features include a deck, porch, basement, shingle roof, natural-gas steam heat, and a washer and dryer conveying with the sale.
Key Highlights
- 2,268 SF duplex with two residential units
- Upper unit renovated in 2022 with laundry hookup
- First‑floor unit includes 2 bedrooms and 2 full baths
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
$22,369
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
7.10%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The upper residence was renovated in 2022 and includes a laundry hookup.
Where is this duplex located?
The property is located at 7 Grove Street 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 SF duplex with two residential units; Upper unit renovated in 2022 with laundry hookup; First‑floor unit includes 2 bedrooms and 2 full baths
