Renovated Two-Unit
For Sale
Under Contract
$450,000
20 Wallace Court, Laconia, NH 03246
Multi-Family, Laconia, NH
Property Size1,872 SF
Lot Size0.18 Acres
Price / SF$240.38
Days on Market97
Property Features for 20 Wallace Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
urban commercial
Rooms
Basement
Lot features
City Lot, Corner, Level
Standard status
Active Under Contract
Size
1,872 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4046
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Wood Frame, Clapboard Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Wolfeboro · Keller Williams Realty
(603) 610-8500
Listed By:
Adam Dow · License #056660
(603) 610-8500
Added: May 27
Changed: Aug 20
Last Checked: Aug 31 at 10:06AM
MLS# 5101357
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 1,872-square-foot duplex contains two residences, each configured with three bedrooms and one bathroom. The building dates to 1930 and was gutted and renovated a few years ago, retaining its wood-frame construction and clapboard exterior while adding updated living spaces. Natural-gas heating, 100-amp electric service, public water, and public sewer serve the property. A shingle roof and basement are also included.
The 0.18-acre property is located in Laconia’s urban commercial zone, near Lake Opechee, the WOW Trail, and downtown attractions. On-site parking is available, and the parcel includes additional area beyond the existing duplex. The two-unit layout supports either an owner-occupant arrangement or rental use, as reflected in the property’s configuration.
The 0.18-acre property is located in Laconia’s urban commercial zone, near Lake Opechee, the WOW Trail, and downtown attractions. On-site parking is available, and the parcel includes additional area beyond the existing duplex. The two-unit layout supports either an owner-occupant arrangement or rental use, as reflected in the property’s configuration.
Key Highlights
- 1,872 square feet with 2 units, each offering 3 bedrooms and 1 bath
- Gutted and renovated a few years ago; original construction dates to 1930
- Located in Laconia’s urban commercial zone on a 0.18‑acre parcel
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
$27,314
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
6.07%
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%
$546,280
$546.3K
Cap Rate 7%
$390,200
$390.2K
Cap Rate 9%
$303,489
$303.5K
Market Conditions
NOI Build-Up for 1,872 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
$40.4K $21.60/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$39.0K $20.84/SF
− OpEx
−$11.7K −$6.25/SF
NOI
$27.3K $14.59/SF
Area
Belknap County, NH
Vacancy
3.50%
Lease Rate
$21.60 /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%
$546,280
Cap Rate 7%
$390,200
Cap Rate 9%
$303,489
Alternative Uses
Best Use
Multifamily LT 5
$390.2K
$341.4K – $455.2K
NOI $27,314 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$358.8K
$314.0K – $418.6K
NOI $25,116 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$445.2K
$389.5K – $519.4K
NOI $31,162 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Explore this area
Business Placement
Demographics for 03246, NH
16,905
Population
10,426
Households
1.6
Avg Household Size
47
Median Age
25%
College-Educated
93%
High-School Grad
19.9 sq mi
ZIP Area
849
Density / Sq Mi
$68,407
Median Household Income
$40,504
Median Earnings
$1,180
Median Rent
$307,800
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 - Each residence includes three bedrooms and one bath, with public utilities and natural-gas heating.
Where is this duplex located?
The property is located at 20 Wallace Court Laconia, NH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,872 square feet with 2 units, each offering 3 bedrooms and 1 bath; Gutted and renovated a few years ago; original construction dates to 1930; Located in Laconia’s urban commercial zone on a 0.18‑acre parcel
