Three-Unit Residential Income
For Sale
$690,000
217 Spruce Street, Manchester, NH 03103
MULTI_FAMILY - Other - Manchester, NH
Property Size4,136 SF
Lot Size0.08 Acres
Price / SF$166.83
Days on Market56
Property Features for 217 Spruce Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 7, Bedroom 3, Bedroom 2, Bedroom 9, Bathroom 1, Bathroom 2, Basement, Bedroom 8, Bedroom 4, Bathroom 3
Parking features
Off Street, Assigned
Appliances
Natural Gas Water Heater, Owned Water Heater
Lot features
City Lot
Elementary school
Beech Street School
Middle school
Hillside Middle School
High school
Manchester Central High Sch
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Directions
Use GPS
Standard status
Active
Size
4,136 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7731
Utilities
Utilities
Cable Available
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Laminate, Carpet, Vinyl, Hardwood
Building materials
Wood Frame, Vinyl Siding
Roof type
Tar/Gravel
Architectural style
Other
Listing Agency:
RE/MAX Synergy · RE/MAX International
(603) 472-3900
Listed By:
Majlinda Shishko · License #76562
(603) 647-8000
Added: Jun 6
Changed: Jul 28
Last Checked: Jul 31 at 11:06AM
MLS# 5093171
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 three-unit residential income property offers a practical, self-contained setup designed for both investor and owner-occupant options. Each unit features three bedrooms and one full bathroom, with spacious rooms and functional layouts. The property also includes separate utilities, which can help simplify day-to-day management and maintenance. Eight off-street parking spaces are available to support residents and visitors.
The property is located at 217 Spruce Street in Manchester, New Hampshire, within R-3 zoning. All units are currently rented, providing an immediate occupied status for the next owner. Nearby everyday needs are described as accessible, including shopping, restaurants, schools, public transportation, and major commuter routes.
For tenants and buyers seeking a steady, turn-key arrangement, this triplex’s fully rented configuration and separate utilities can be appealing. The layout supports an owner who may choose to occupy one unit while continuing to rent the others, or buyers may operate it as a fully leased investment with separate living spaces and dedicated parking.
The property is located at 217 Spruce Street in Manchester, New Hampshire, within R-3 zoning. All units are currently rented, providing an immediate occupied status for the next owner. Nearby everyday needs are described as accessible, including shopping, restaurants, schools, public transportation, and major commuter routes.
For tenants and buyers seeking a steady, turn-key arrangement, this triplex’s fully rented configuration and separate utilities can be appealing. The layout supports an owner who may choose to occupy one unit while continuing to rent the others, or buyers may operate it as a fully leased investment with separate living spaces and dedicated parking.
Key Highlights
- Multifamily property with all units currently rented, supporting immediate rental income for the next owner
- 8 off‑street parking spaces plus assigned parking
- Each unit features 3 bedrooms and 1 full bathroom
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 | $84.4k | $20.40 |
| − Vacancy | −$4.6k | −$1.12 |
| EGI | $79.7k | $19.28 |
| − OpEx | −$23.9k | −$5.78 |
| NOI | $55.8k | $13.49 |
4,136 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$797.3K
$697.7K – $930.2K
NOI $55,814 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$742.5K
$649.7K – $866.3K
NOI $51,975 @ 7.0% cap · market cap 7.53%
Theoretical Best
Specialty Retail
$1.02M
$888.7K – $1.18M
NOI $71,098 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 03103, NH
38,039
Population
16,166
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
9.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$70,049
Median Household Income
$41,243
Median Earnings
$1,322
Median Rent
$313,500
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?
Triplex - Triplex with three bedrooms and one full bath per unit plus eight off-street parking spaces.
Where is this triplex located?
The property is located at 217 Spruce Street Manchester, NH.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Multifamily property with all units currently rented, supporting immediate rental income for the next owner; 8 off‑street parking spaces plus assigned parking; Each unit features 3 bedrooms and 1 full bathroom
