Duplex with Detached Two-Car
For Sale
$799,000
120 Durham Road, Dover, NH 03820
MULTI_FAMILY - Other - Dover, NH
Property Size3,566 SF
Lot Size0.71 Acres
Price / SF$224.06
Days on Market52
Property Features for 120 Durham Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-20
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 4
Lot features
Level, Near School(s)
Elementary school
Woodman Park Elementary School
Middle school
Dover Middle School
High school
Dover High School
Directions
Take Exit 7 off the Spaulding Turnpike (NH-16) to access Durham Rd in Dover. Durham Rd is Rte 108.
Standard status
Active
Size
3,566 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14189
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
front porch
rear deck
in-unit laundry
detached two-car garage
Building Details
Year built
1971
Floors in Building
2
Number of units
2
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Shingle, Metal
Architectural style
Other
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Trish Mahoney
Added: Jun 19
Changed: Aug 4
Last Checked: Aug 9 at 3:06AM
MLS# 5095678
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.
Duplex on a large, level 0.71-acre lot with 3,566 SF and zoning R-20. Built in 1971, the property features natural gas heating and public water, with exterior materials including aluminum siding and vinyl siding. The roof is metal and shingle.
The primary unit includes a front porch, four bedrooms, a large eat-in kitchen, one full bath and two half baths, plus laundry. A rear deck off the kitchen provides outdoor space. The second unit is accessed by a private exterior staircase and includes two bedrooms, a full bathroom with in-unit laundry, and a full kitchen.
Each unit has its own driveway and a generous parking area for convenience and privacy. The property also includes a detached two-car garage for vehicle storage and tools, with additional storage room.
The primary unit includes a front porch, four bedrooms, a large eat-in kitchen, one full bath and two half baths, plus laundry. A rear deck off the kitchen provides outdoor space. The second unit is accessed by a private exterior staircase and includes two bedrooms, a full bathroom with in-unit laundry, and a full kitchen.
Each unit has its own driveway and a generous parking area for convenience and privacy. The property also includes a detached two-car garage for vehicle storage and tools, with additional storage room.
Key Highlights
- 0.71‑acre level lot with 3,566 SF duplex zoned R‑20
- Primary unit: four bedrooms, large eat‑in kitchen, one full bath and two half baths
- Second unit accessed via private exterior staircase: two bedrooms, full bath with in‑unit laundry
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
$36,200
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
4.53%
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%
$724,000
$724.0K
Cap Rate 7%
$517,143
$517.1K
Cap Rate 9%
$402,222
$402.2K
Market Conditions
NOI Build-Up for 3,566 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
$53.5K $15.00/SF
− Vacancy
−$1.8K −$0.50/SF
EGI
$51.7K $14.50/SF
− OpEx
−$15.5K −$4.35/SF
NOI
$36.2K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /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%
$724,000
Cap Rate 7%
$517,143
Cap Rate 9%
$402,222
Alternative Uses
Best Use
Multifamily LT 5
$517.1K
$452.5K – $603.3K
NOI $36,200 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$476.9K
$417.3K – $556.4K
NOI $33,386 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$954.0K
$834.8K – $1.11M
NOI $66,781 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 03820, NH
32,800
Population
15,460
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
1,201
Density / Sq Mi
$92,793
Median Household Income
$53,890
Median Earnings
$1,540
Median Rent
$397,900
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 - Duplex on a large level lot zoned R-20 with natural gas heat and detached two-car garage.
Where is this duplex located?
The property is located at 120 Durham Road Dover, 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: 0.71‑acre level lot with 3,566 SF duplex zoned R‑20; Primary unit: four bedrooms, large eat‑in kitchen, one full bath and two half baths; Second unit accessed via private exterior staircase: two bedrooms, full bath with in‑unit laundry
