Five-Unit Apartment
New
For Sale
$799,000
11 Orange Street, Farmington, NH 03835
Multi-Family, Farmington, NH
Property Size3,248 SF
Lot Size0.22 Acres
Price / SF$245
Days on Market3
Property Features for 11 Orange Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
VC VIL
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 4, Bathroom 3, Bathroom 2
Lot features
City Lot
Directions
GPS Works
Standard status
Active
Size
3,248 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8868
Utilities
Utilities
Cable Available
Heating system
Propane (Heating), Forced Air
Water source
Public
Building Details
Year built
1890
Floors in Building
3
Number of units
5
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Century 21 North East · Century 21 Real Estate
(603) 893-8230
Listed By:
Scott Forte
(617) 293-5235
Added: Sep 21
Last Checked: Sep 23 at 12:06AM
MLS# 5110747
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.
Investment Insights
Based on property information with market context.
Located at 11 Orange Street in Farmington, this apartment building contains five units with a mix of three one-bedroom residences and two two-bedroom residences. The property provides approximately 3,248 square feet of finished living area on a 0.22-acre lot, with vinyl siding, a shingle roof, and a basement. Built in 1890, the building is served by public water and sewer and uses propane forced-air heat. A paved driveway serves the property, which fronts approximately 170 feet along a public-maintained road. The zoning designation is VC VIL, and cable is available. Its established unit configuration and residential infrastructure support continued multifamily use.
Key Highlights
- Five‑unit apartment building with three 1‑bedroom units and two 2‑bedroom units
- Approximately 3,248 square feet of finished living area
- 0.22‑acre lot with approximately 170 feet of road frontage
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
$30,409
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
3.81%
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%
$608,180
$608.2K
Cap Rate 7%
$434,414
$434.4K
Cap Rate 9%
$337,878
$337.9K
Market Conditions
NOI Build-Up for 3,248 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
$57.3K $17.64/SF
− Vacancy
−$2.0K −$0.62/SF
EGI
$55.3K $17.02/SF
− OpEx
−$24.9K −$7.66/SF
NOI
$30.4K $9.36/SF
Area
Strafford County, NH
Vacancy
3.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$608,180
Cap Rate 7%
$434,414
Cap Rate 9%
$337,878
Alternative Uses
Best Use
Apartment 5plus
$434.4K
$380.1K – $506.8K
NOI $30,409 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.9K
$760.3K – $1.01M
NOI $60,826 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 03835, NH
6,758
Population
2,994
Households
2.3
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
36.8 sq mi
ZIP Area
184
Density / Sq Mi
$63,704
Median Household Income
$33,333
Median Earnings
$963
Median Rent
$273,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Five-unit residential income property with public water, sewer, propane forced-air heat, and a paved driveway.
Where is this apartment building located?
The property is located at 11 Orange Street Farmington, NH.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Five‑unit apartment building with three 1‑bedroom units and two 2‑bedroom units; Approximately 3,248 square feet of finished living area; 0.22‑acre lot with approximately 170 feet of road frontage
