Two-Family Residential Income
For Sale
Contact for pricing
Pending
10 BIRCH ST, Derry, NH 03038
Two well-maintained units with long-term tenancy, off-street parking, and recent major mechanical and exterior upgrades.
Property Size1,671 SF
Lot Size0.10 Acres
Days on Market50
Property Features for 10 BIRCH ST
General Information
Standard status
Pending
Size
1,671 SF
Total Parking Spaces
4
Lot size
0.10 Acres
Property subtype
Multifamily
Zoning
CBD
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1915
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Downtown Realty
(603) 554-2309
Listed By:
Matthew Lefebvre · License #NH 070207
Source:
Crexi
Added: Jun 23
Changed: Aug 8
Last Checked: Jul 24 at 6:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Downtown Realty
Investment Insights
Based on property information with market context.
This two-family property is laid out as a front unit with three bedrooms, one bathroom, and a bonus room in a townhouse-style configuration, plus a second unit featuring a large open layout and a loft-style bedroom with one bathroom. The site includes a small yard and off-street parking for at least four vehicles.
Located in downtown Derry, the property is close to restaurants and shopping, the library, Parkland Medical Center, and major commuter routes. The home benefits from a tenant history that includes one unit continuously occupied for nearly 20 years by the same family.
Recent capital improvements include replacement of both heating systems with forced-air furnaces that are less than three years old, along with water heaters for both units replaced within the last three years. Vinyl siding and windows were installed less than five years ago. With primarily cosmetic renovations needed to maximize presentation, the property is well suited for an investor or a future owner-occupant seeking a turn-key residential income asset with deferred maintenance largely addressed.
Located in downtown Derry, the property is close to restaurants and shopping, the library, Parkland Medical Center, and major commuter routes. The home benefits from a tenant history that includes one unit continuously occupied for nearly 20 years by the same family.
Recent capital improvements include replacement of both heating systems with forced-air furnaces that are less than three years old, along with water heaters for both units replaced within the last three years. Vinyl siding and windows were installed less than five years ago. With primarily cosmetic renovations needed to maximize presentation, the property is well suited for an investor or a future owner-occupant seeking a turn-key residential income asset with deferred maintenance largely addressed.
Key Highlights
- Two‑family property built in 1915 on a 0.10‑acre lot in downtown Derry
- Long‑term tenants: one unit continuously occupied for nearly 20 years by the same family
- Front unit offers 3 bedrooms, 1 bathroom, plus a bonus room (town‑house style setup)
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
$28,150
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
6.12%
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%
$563,000
$563.0K
Cap Rate 7%
$402,143
$402.1K
Cap Rate 9%
$312,778
$312.8K
Market Conditions
NOI Build-Up for 1,671 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
$42.1K $25.20/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$40.2K $24.07/SF
− OpEx
−$12.1K −$7.22/SF
NOI
$28.2K $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%
$563,000
Cap Rate 7%
$402,143
Cap Rate 9%
$312,778
Alternative Uses
Best Use
Multifamily LT 5
$402.1K
$351.9K – $469.2K
NOI $28,150 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$362.2K
$317.0K – $422.6K
NOI $25,357 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$556.3K
$486.8K – $649.1K
NOI $38,943 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 03038, NH
34,482
Population
14,207
Households
2.4
Avg Household Size
40
Median Age
35%
College-Educated
93%
High-School Grad
35.8 sq mi
ZIP Area
963
Density / Sq Mi
$104,306
Median Household Income
$53,516
Median Earnings
$1,473
Median Rent
$381,700
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 - Two well-maintained units with long-term tenancy, off-street parking, and recent major mechanical and exterior upgrades.
Where is this duplex located?
The property is located at 10 BIRCH ST Derry, NH.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two‑family property built in 1915 on a 0.10‑acre lot in downtown Derry; Long‑term tenants: one unit continuously occupied for nearly 20 years by the same family; Front unit offers 3 bedrooms, 1 bathroom, plus a bonus room (town‑house style setup)
