Legal Two-Unit Duplex with
For Sale
$599,000
42 Gilford Avenue, Laconia, NH 03246
MULTI_FAMILY - Other - Laconia, NH
Property Size3,388 SF
Lot Size0.48 Acres
Price / SF$176.80
Days on Market96
Property Features for 42 Gilford Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RG
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 2
Patio and Porch features
Deck
Exterior features
Deck, Full Fence
Fencing
Fenced
Lot features
In Town
Directions
From Bus. Rt. 3 turn onto Gilford Ave., 2nd house on the left after passing Dewey St. All Red, see sign.
Standard status
Active
Size
3,388 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6002
Utilities
Heating system
Hot Water(Heating), Electric (Heating), Wood Stove, Wood, Baseboard
Water source
Public
Building Details
Year built
1780
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Clapboard Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
Starr Realty
(603) 293-7227
Listed By:
Jason Starr
(603) 293-7227
Added: May 4
Changed: Aug 4
Last Checked: Aug 7 at 4:06PM
MLS# 5086938
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 legal two-unit duplex offers 3,388 sq. ft. of finished living space across 1.75 stories, built in 1780. The home includes five bedrooms and four bathrooms (one full and three three-quarter), with hardwood and vinyl flooring, wood fireplaces, and a wood stove. Interior updates include vinyl plank flooring, a kitchen island, a wine cooler, and 1st-floor laundry. The property also includes an in-law suite already in place, and two separate workshop/storage areas.
Outside, the property sits on nearly half an acre (0.48) with a deck, garden space, and full fencing. There are two street entrances/exits and a paved driveway designed to support parking for tenants, guests, or work vehicles. Clapboard exterior and a shingle roof round out the exterior features, and the home is served by public water.
Zoned RG, this duplex configuration supports owner-occupancy or separate use of the two units, with the additional workshop/storage space supporting a variety of tenant and work needs.
Outside, the property sits on nearly half an acre (0.48) with a deck, garden space, and full fencing. There are two street entrances/exits and a paved driveway designed to support parking for tenants, guests, or work vehicles. Clapboard exterior and a shingle roof round out the exterior features, and the home is served by public water.
Zoned RG, this duplex configuration supports owner-occupancy or separate use of the two units, with the additional workshop/storage space supporting a variety of tenant and work needs.
Key Highlights
- Built in 1780, with clapboard exterior and shingle roof
- Legal two‑unit duplex with two separate workshop/storage areas
- 3,388 sq. ft. of finished living space across 1.75 stories
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
$49,434
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
8.25%
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%
$988,680
$988.7K
Cap Rate 7%
$706,200
$706.2K
Cap Rate 9%
$549,267
$549.3K
Market Conditions
NOI Build-Up for 3,388 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
$73.2K $21.60/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$70.6K $20.84/SF
− OpEx
−$21.2K −$6.25/SF
NOI
$49.4K $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%
$988,680
Cap Rate 7%
$706,200
Cap Rate 9%
$549,267
Alternative Uses
Best Use
Multifamily LT 5
$706.2K
$617.9K – $823.9K
NOI $49,434 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$649.4K
$568.2K – $757.6K
NOI $45,455 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$805.7K
$705.0K – $940.0K
NOI $56,398 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
249
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-unit duplex on 0.48 acres featuring a deck, fenced yard, and two separate workshop/storage areas.
Where is this duplex located?
The property is located at 42 Gilford Avenue Laconia, NH.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Built in 1780, with clapboard exterior and shingle roof; Legal two‑unit duplex with two separate workshop/storage areas; 3,388 sq. ft. of finished living space across 1.75 stories
