Duplex with Detached
For Sale
$779,000
120 Durham Road, Dover, NH 03820
Multi-Family, Dover, NH
Property Size3,566 SF
Lot Size0.71 Acres
Price / SF$218.45
Days on Market99
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 4, Bathroom 1, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 6, Bedroom 3, Bathroom 2
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
Building Details
Year built
1971
Floors in Building
2
Number of units
2
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Metal, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Trish Mahoney
Added: Jun 19
Changed: Sep 15
Last Checked: Sep 25 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.
This Dover duplex contains 3,566 square feet across two residential units. The larger residence includes four bedrooms, one full bathroom, two half bathrooms, laundry, an eat-in kitchen, front porch, rear deck, and substantial closet storage. A private exterior staircase leads to the second unit, which provides two bedrooms, a full bathroom with in-unit laundry, and a full kitchen.
The property occupies 0.71 acres at 120 Durham Road and includes a detached two-car garage, individual driveways, and generous parking areas for the residences. Built in 1971, the building has aluminum and vinyl siding, shingle and metal roofing, natural gas heat, and public water. R-20 zoning applies to the parcel.
The property occupies 0.71 acres at 120 Durham Road and includes a detached two-car garage, individual driveways, and generous parking areas for the residences. Built in 1971, the building has aluminum and vinyl siding, shingle and metal roofing, natural gas heat, and public water. R-20 zoning applies to the parcel.
Key Highlights
- 3,566 square feet with a four‑bedroom primary unit and a two‑bedroom second unit
- 0.71‑acre level parcel at 120 Durham Road, Dover, NH 03820
- Detached two‑car garage with additional vehicle, tool, and storage capacity
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
4.65%
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 4.65%
Second Best
Apartment 5plus
$476.9K
$417.3K – $556.4K
NOI $33,386 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$954.0K
$834.8K – $1.11M
NOI $66,781 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
128
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
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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 - Two residential units offer separate kitchens, laundry facilities, driveways, and outdoor areas on a level Dover parcel.
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 $779,000.
What are key features of this property?
This property features: 3,566 square feet with a four‑bedroom primary unit and a two‑bedroom second unit; 0.71‑acre level parcel at 120 Durham Road, Dover, NH 03820; Detached two‑car garage with additional vehicle, tool, and storage capacity
