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    Triplex with Two Garages Title is generated by Realmo AI

    1 Old Manchester Road, Raymond, NH 03077

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    For Sale
    $975,000

    MULTI_FAMILY - Other - Raymond, NH

    Property size:
    3,690 SF
    Lot size:
    0.38 Acres
    Price / SF:
    $264/SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 1 Old Manchester Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    C1
    Bedrooms
    7
    Bathrooms
    4
    Rooms
    Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 6, Bathroom 4, Bedroom 5, Basement, Bathroom 1, Bedroom 7, Bedroom 4, Bedroom 2, Bedroom 3
    Standard status
    Active
    Size
    3,690 SF
    Lot size
    0.38 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Propane (Heating), Forced Air
    Water source
    Public

    Building Details

    Year built
    1848
    Floors in Building
    2
    Number of units
    3
    Building materials
    Wood Frame, Clapboard Exterior
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Andy Yau
    Andy Yau

    Listing agent Andy Yau License #074320

    Listing office RE/MAX Shoreline 875 Greenland Rd., Portsmouth, NH

    Listing date Jun 2, 2026

    MLS# 5092224 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Triplex home built in 1848 with wood frame clapboard exterior and shingle roof
    • Propane forced‑air heating; public water and cable available
    • Multi‑unit layout with 7 bedrooms and 4 bathrooms, plus a basement
    • Includes 2 separate garages, a large barn, and a workshop
    • Corner lot across from the town commons with mature gardens, brick walkways, stone walls, vegetable garden, and playground
    • Tenants have washer/dryers with plenty of parking and separate utilities; potential cap rate over 9%

    Overview

    This renovated triplex blends modern updates with historic architectural character across three separate units. Interior highlights include hardwood floors, exposed wood beams, crown molding, built-in shelving, and custom lighting. The home offers two separate garages plus a large barn and a workshop, supporting storage, expansion options, or flexible use. Each unit features an open-concept layout in the kitchen and living areas, with multiple designer finishes described throughout, including mosaic tile, stone countertops, arched built-ins, and stainless steel appliances. The lower level includes a game room with a bar and sitting area. Washer and dryer amenities are available, and separate utilities are referenced for the units.

    Set on a corner lot across from the town commons, the property is complemented by mature gardens, brick walkways, stone walls, and a vegetable garden, along with a nearby playground within the commons setting. The listing also notes easy access to the Lamprey River, Rockingham trails, local restaurants, and RT 101. Parking is described as plentiful.

    This configuration can work well for an owner-occupant seeking a large primary unit with rental income from the additional two units. With updated mechanical systems and on-site storage and work space provided by the garages, barn, and workshop, the property may suit tenants or buyers looking for a self-contained residential income setup with practical day-to-day convenience.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $93.0k $25.20
    − Vacancy −$4.2k −$1.13
    EGI $88.8k $24.07
    − OpEx −$26.6k −$7.22
    NOI $62.2k $16.85
    3,690 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $888.0K
    $777.0K – $1.04M (±1% cap)
    NOI $62,162 @ 7.0% cap · market cap 6.38%
    Second Best
    Apartment 5plus
    $799.9K
    $699.9K – $933.3K (±1% cap)
    NOI $55,995 @ 7.0% cap · market cap 5.74%
    Theoretical Best
    Office A
    $1.23M
    $1.07M – $1.43M (±1% cap)
    NOI $85,995 @ 7.0% cap · market cap 8.82%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raymond
    County
    Rockingham
    State
    New Hampshire
    Longitude
    -71.1843611
    Latitude
    43.0367082

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    FAQs

    What type of property is this?
    Triplex - Renovated triplex on a corner lot with historic character, modern upgrades, and multiple outbuildings for storage or work space.
    Where is this triplex located?
    The property is located at 1 Old Manchester Road Raymond, NH.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Triplex home built in 1848 with wood frame clapboard exterior and shingle roof; Propane forced‑air heating; public water and cable available; Multi‑unit layout with 7 bedrooms and 4 bathrooms, plus a basement
    (603) 431-1111
    We can help!
    Listing Contact
    Andy Yau
    Andy Yau
    Real Estate License ID: 074320
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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