Renovated Triplex with
For Sale
$925,000
1 Old Manchester Road, Raymond, NH 03077
Multi-Family, Raymond, NH
Property Size3,690 SF
Lot Size0.38 Acres
Price / SF$250.68
Days on Market96
Property Features for 1 Old Manchester Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C1
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 8, Bathroom 1, Bedroom 1, Basement, Bedroom 7, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 5
Lot features
Corner, Landscaped
Standard status
Active
Size
3,690 SF
Lot size
0.38 Acres
Utilities
Utilities
Cable Available
Heating system
Forced Air, Propane (Heating)
Water source
Public
Amenities
washer/dryers
playground
Building Details
Year built
1848
Floors in Building
2
Number of units
3
Building materials
Wood Frame, Clapboard Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Shoreline · RE/MAX International
(603) 431-1111
Listed By:
Andy Yau · License #074320
(603) 969-6216
Added: Jun 2
Changed: Sep 3
Last Checked: Sep 5 at 6:06AM
MLS# 5092224
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 3,690-square-foot triplex combines an 1848 wood-frame structure with updated mechanical systems and distinct character details. The largest unit includes an updated kitchen, spacious bedrooms with walk-in closets, a lower-level game room, bar, and sitting area. The second unit offers an open kitchen and living area, while the third includes an open kitchen and living space with a loft bedroom. Hardwood floors, exposed beams, crown molding, built-in shelving, custom lighting, and updated bathrooms add architectural detail throughout.
The 0.38-acre corner lot includes two separate garages, a large barn, workshop, mature gardens, brick walkways, stone walls, a vegetable garden, and a playground. The property is across from the town commons and provides access to public water, cable service, and parking. Separate utilities serve the units, and the property is zoned C1. It is located near the Lamprey River, Rockingham trails, restaurants, and RT 101, with a current cap rate of 8.63%.
The 0.38-acre corner lot includes two separate garages, a large barn, workshop, mature gardens, brick walkways, stone walls, a vegetable garden, and a playground. The property is across from the town commons and provides access to public water, cable service, and parking. Separate utilities serve the units, and the property is zoned C1. It is located near the Lamprey River, Rockingham trails, restaurants, and RT 101, with a current cap rate of 8.63%.
Key Highlights
- Three‑unit property totaling 3,690 square feet
- 0.38‑acre corner lot across from the town commons
- Two separate garages, large barn, and workshop
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
$62,162
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
6.72%
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%
$1,243,240
$1.2M
Cap Rate 7%
$888,029
$888.0K
Cap Rate 9%
$690,689
$690.7K
Market Conditions
NOI Build-Up for 3,690 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
$93.0K $25.20/SF
− Vacancy
−$4.2K −$1.13/SF
EGI
$88.8K $24.07/SF
− OpEx
−$26.6K −$7.22/SF
NOI
$62.2K $16.85/SF
Area
Rockingham County, NH
Vacancy
4.50%
Lease Rate
$25.20 /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%
$1,243,240
Cap Rate 7%
$888,029
Cap Rate 9%
$690,689
Alternative Uses
Best Use
Multifamily LT 5
$888.0K
$777.0K – $1.04M
NOI $62,162 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$799.9K
$699.9K – $933.3K
NOI $55,995 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,995 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 03077, NH
10,684
Population
4,521
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
28.8 sq mi
ZIP Area
371
Density / Sq Mi
$92,002
Median Household Income
$48,544
Median Earnings
$1,380
Median Rent
$342,500
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?
Triplex - Updated three-unit property with two garages, a workshop, separate utilities, and a spacious corner lot.
Where is this triplex located?
The property is located at 1 Old Manchester Road Raymond, NH.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Three‑unit property totaling 3,690 square feet; 0.38‑acre corner lot across from the town commons; Two separate garages, large barn, and workshop
