Updated Duplex with In-Unit
For Sale
Under Contract
$589,900
81 Stark Avenue, Dover, NH 03820
Multi-Family, Dover, NH
Property Size2,062 SF
Lot Size0.17 Acres
Price / SF$286.08
Days on Market95
Property Features for 81 Stark Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-12
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Basement
Exterior features
Partial Fence, Natural Shade
Fencing
Partial
Appliances
Electric Water Heater, Natural Gas Water Heater, Water Heater off Boiler
Lot features
Level, Sidewalks, Street Lights, Near Golf Course, Near Public Transport, Near Railroad, Near Hospital, Near School(s)
Elementary school
Garrison School
Middle school
Dover Middle School
High school
Dover High School
Elementary school district
Dover School District SAU #11
Middle school district
Dover School District SAU #11
High school district
Dover School District SAU #11
Directions
Central Avenue South to lights to Stark Avenue. Subject property is approximately 1/4 of a mile and house located on the right.
Standard status
Active Under Contract
Size
2,062 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8230
Utilities
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Water source
Public
Amenities
laundry
private backyard
Building Details
Year built
1850
Floors in Building
2
Number of units
2
Flooring type
Laminate
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Central Falls Realty · Century 21 Real Estate
(603) 742-2121
Listed By:
Paula Forbes
(603) 742-2121
Added: May 19
Changed: Aug 20
Last Checked: Aug 21 at 12:06AM
MLS# 5089733
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 well-maintained duplex offers updated interiors and building systems, with laundry available in both units. Improvements include new windows, new siding, a new front door, new flooring, and refreshed kitchens in both units. Heating is provided by natural gas with hot water baseboard systems, supported by a newer boiler for reliable warmth; the back unit’s heating is described as 3 to 4 years old. Tenants pay their own heat and hot water, which helps keep owner expenses more controlled.
The property is sited on a 0.17-acre lot at 81 Stark Avenue in Dover, NH. The exterior includes wood-frame construction with vinyl siding, a shingle roof, and partial fencing with natural shade in the backyard. Public water service is available, and both electric and natural gas water heaters are listed among the appliances.
With bedrooms and bathrooms configured across two units, the home also includes a basement and offers practical day-to-day amenities such as laundry for each tenant. Current zoning is R-12.
The property is sited on a 0.17-acre lot at 81 Stark Avenue in Dover, NH. The exterior includes wood-frame construction with vinyl siding, a shingle roof, and partial fencing with natural shade in the backyard. Public water service is available, and both electric and natural gas water heaters are listed among the appliances.
With bedrooms and bathrooms configured across two units, the home also includes a basement and offers practical day-to-day amenities such as laundry for each tenant. Current zoning is R-12.
Key Highlights
- Laundry available in both units
- New windows, new siding, new front door, new flooring, and refreshed kitchens
- Newer boiler for reliable heat; back unit heating is 3 to 4 years old
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
$20,932
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
3.55%
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%
$418,640
$418.6K
Cap Rate 7%
$299,029
$299.0K
Cap Rate 9%
$232,578
$232.6K
Market Conditions
NOI Build-Up for 2,062 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
$30.9K $15.00/SF
− Vacancy
−$1.0K −$0.50/SF
EGI
$29.9K $14.50/SF
− OpEx
−$9.0K −$4.35/SF
NOI
$20.9K $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%
$418,640
Cap Rate 7%
$299,029
Cap Rate 9%
$232,578
Alternative Uses
Best Use
Multifamily LT 5
$299.0K
$261.7K – $348.9K
NOI $20,932 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$275.8K
$241.3K – $321.8K
NOI $19,305 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$551.6K
$482.7K – $643.6K
NOI $38,615 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
322
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 - Updated duplex with laundry in both units, partial fenced backyard, and natural gas heating supported by a newer boiler.
Where is this duplex located?
The property is located at 81 Stark Avenue Dover, NH.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Laundry available in both units; New windows, new siding, new front door, new flooring, and refreshed kitchens; Newer boiler for reliable heat; back unit heating is 3 to 4 years old
