Duplex with Detached Two-Car
For Sale
$799,000
120 Durham Road, Dover, NH 03820
Two-unit duplex features separate driveways and private access, supported by in-unit laundry and a detached two-car garage.
Property Size3,566 SF
Price / SF$224.06
Days on Market52
Property Features for 120 Durham Road
General Information
Standard status
Active
Size
3,566 SF
Property subtype
Multi Family
Zoning
R-20
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,189
Building Details
Year Built
1971
Stories
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Trish Mahoney
Source:
Laerrealty
Added: Jun 30
Changed: Aug 14
Last Checked: Aug 20 at 4:32AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This duplex offers two separate residences with practical, tenant-friendly layouts. The primary unit includes four bedrooms, a large eat-in kitchen, one full bathroom and two half baths, plus laundry facilities. It also has ample closet space and a rear deck just off the kitchen. The second unit is accessed via a private exterior staircase and provides two bedrooms, a full bathroom with in-unit laundry, and a full kitchen.
The property is sited on a large, level lot. Each unit has its own driveway and generous parking area, supporting convenience and privacy for occupants. A detached two-car garage adds valuable off-street storage and parking for vehicles, tools, and additional items.
For owner-occupants or investors, the duplex configuration supports flexible occupancy options, including living in one unit while renting the other. With separate access, in-unit laundry, and two separate kitchens and bathrooms, the layout is well suited to everyday residential use while maintaining clear separation between the two households.
The property is sited on a large, level lot. Each unit has its own driveway and generous parking area, supporting convenience and privacy for occupants. A detached two-car garage adds valuable off-street storage and parking for vehicles, tools, and additional items.
For owner-occupants or investors, the duplex configuration supports flexible occupancy options, including living in one unit while renting the other. With separate access, in-unit laundry, and two separate kitchens and bathrooms, the layout is well suited to everyday residential use while maintaining clear separation between the two households.
Key Highlights
- Two‑unit duplex built in 1971, offering separate living spaces for rental income or owner‑occupancy
- Primary unit includes 4 bedrooms, a large eat‑in kitchen, 1 full bath, 2 half baths, and in‑unit laundry
- Second unit features 2 bedrooms, a full kitchen, 1 full bath, and in‑unit laundry
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
$36,200
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
4.53%
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%
$724,000
$724.0K
Cap Rate 7%
$517,143
$517.1K
Cap Rate 9%
$402,222
$402.2K
Market Conditions
NOI Build-Up for 3,566 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
$53.5K $15.00/SF
− Vacancy
−$1.8K −$0.50/SF
EGI
$51.7K $14.50/SF
− OpEx
−$15.5K −$4.35/SF
NOI
$36.2K $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%
$724,000
Cap Rate 7%
$517,143
Cap Rate 9%
$402,222
Alternative Uses
Best Use
Multifamily LT 5
$517.1K
$452.5K – $603.3K
NOI $36,200 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$476.9K
$417.3K – $556.4K
NOI $33,386 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$954.0K
$834.8K – $1.11M
NOI $66,781 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
128
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 - Two-unit duplex features separate driveways and private access, supported by in-unit laundry and a detached two-car garage.
Where is this duplex located?
The property is located at 120 Durham Road Dover, NH.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1971, offering separate living spaces for rental income or owner‑occupancy; Primary unit includes 4 bedrooms, a large eat‑in kitchen, 1 full bath, 2 half baths, and in‑unit laundry; Second unit features 2 bedrooms, a full kitchen, 1 full bath, and in‑unit laundry
