Building Details

Year Built 1921

Buildings 1

Listing Agency: RE/MAX Shoreline

Listed By: Andy Yau · License #074320 Show Phone

Source: Megansellsnh

Added: Aug 3 Changed: Oct 12 Last Checked: Oct 7 at 2:56PM

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Investment Insights

Based on property information with market context.

This 3,342-square-foot triplex, built in 1921, includes one two-bedroom apartment, a one-level three-bedroom apartment, and a one-bedroom unit on the upper level. Interior improvements include a remodeled kitchen with stainless steel appliances, an updated bathroom, new flooring in one apartment, luxury vinyl flooring and newer tile in another, plus newer windows and portions of the roof. The building also has vinyl siding, wrapped trim, washer and dryer hookups, porch space, and a garage.

The property is in Rochester, NH, within a residential setting surrounded by single-family homes. Residents have access to a backyard and on-site parking, while separate utilities help distinguish the operating setup. The property is currently reported at an 8.15% cap rate.

Key Highlights

• 3,342 SF triplex built in 1921
• Unit mix includes 1BR, 2BR, and one‑level 3BR apartments
• Current cap rate reported at 8.15%

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,926

Cap Rate

5.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$678,520 $678.5K

Cap Rate 7%

$484,657 $484.7K

Cap Rate 9%

$376,956 $377.0K

Market Conditions

NOI Build-Up for 3,342 SF

Gross rent

$50.1K $15.00/SF

− Vacancy

−$1.7K −$0.50/SF

EGI

$48.5K $14.50/SF

− OpEx

−$14.5K −$4.35/SF

NOI

$33.9K $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 Rate 5%

$678,520

Cap Rate 7%

$484,657

Cap Rate 9%

$376,956

Alternative Uses

Best Use

Multifamily LT 5

$484.7K

$424.1K – $565.4K (±1% cap)

NOI $33,926 @ 7.0% cap · market cap 5.75%

Second Best

Apartment 5plus

$447.0K

$391.1K – $521.5K (±1% cap)

NOI $31,289 @ 7.0% cap · market cap 5.30%

Theoretical Best

Office A

$894.1K

$782.3K – $1.04M (±1% cap)

NOI $62,586 @ 7.0% cap · market cap 10.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Parking Lot & Garage Computer & Electronic Repair Cafe & Coffee Shop Carpet & Flooring Store (Bike/Boat/Book/etc) Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

435

Businesses Nearby

Explore this area Business Placement

Demographics for 03867, NH

22,369

Population

10,458

Households

2.1

Avg Household Size

44

Median Age

25%

College-Educated

93%

High-School Grad

28.4 sq mi

ZIP Area

788

Density / Sq Mi

$74,397

Median Household Income

$42,613

Median Earnings

$1,217

Median Rent

$259,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three apartments feature varied bedroom layouts, outdoor space, and separate utilities.

Where is this triplex located?

The property is located at 11 Cleveland St Rochester, NH.

What is the asking price?

The asking price for this property is $590,000.

What are key features of this property?

This property features: 3,342 SF triplex built in 1921; Unit mix includes 1BR, 2BR, and one‑level 3BR apartments; Current cap rate reported at 8.15%