Spacious Three-Family
For Sale
$679,000
183 Cartier Street, Manchester, NH 03102
Three-family property with income and detached garages near CMC Hospital.
Property Size2,860 SF
Price / SF$237.41
Days on Market1546
Property Features for 183 Cartier Street
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Multi-Family
Zoning
r-3
Building Details
Year Built
1885
Stories
3
Listing Agency:
BHHS Verani Londonderry
(603) 382-2121
Listed By:
Joan Blais · License #NH 005229
(603) 845-2258
Source:
Churchillprop
Added: Jul 14, 2022
Changed: Oct 1
Last Checked: Oct 5 at 5:00PM
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 BHHS Verani Londonderry
Investment Insights
Based on property information with market context.
This spacious three-family property generates an annual income of $64,210 from its apartments. The building contains a total of 9 bedrooms. Tenants are responsible for their own gas heat, hot water, and electricity. There are five detached garages on the property, currently used by the seller for storage. Parking is available on the side of the building. The first-floor apartment features 3 bedrooms and was recently remodeled. It is currently leased for $2,000 per month until October 2026. The second-floor apartment has 4 bedrooms, vinyl plank flooring, and was remodeled 3 years ago. The rent for this unit is $2,200 per month. The third-floor apartment, with 2 bedrooms, was remodeled in 2025 and is leased until the summer of 2026 for $1,450 per month. The property is sided and includes private side porches. Situated on a corner lot, the property is located three blocks from CMC Hospital.
Key Highlights
- High Income Potential: $64,210 annual income from apartments.
- Five Detached Garages: Seller willing to pre‑pay $30,000 for 5 years' usage, deductible from the price.
- Recently Remodeled Apartments: All three units have been remodeled.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,595
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,900
$771.9K
Cap Rate 7%
$551,357
$551.4K
Cap Rate 9%
$428,833
$428.8K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$58.3K $20.40/SF
− Vacancy
−$3.2K −$1.12/SF
EGI
$55.1K $19.28/SF
− OpEx
−$16.5K −$5.78/SF
NOI
$38.6K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,900
Cap Rate 7%
$551,357
Cap Rate 9%
$428,833
Alternative Uses
Best Use
Multifamily LT 5
$551.4K
$482.4K – $643.3K
NOI $38,595 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$513.4K
$449.3K – $599.0K
NOI $35,940 @ 7.0% cap · market cap 5.29%
Theoretical Best
Specialty Retail
$702.3K
$614.5K – $819.4K
NOI $49,163 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,645
Businesses Nearby
Explore this area
Business Placement
Demographics for 03102, NH
33,396
Population
15,264
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
9.1 sq mi
ZIP Area
3,670
Density / Sq Mi
$69,927
Median Household Income
$43,518
Median Earnings
$1,533
Median Rent
$309,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with income and detached garages near CMC Hospital.
Where is this triplex located?
The property is located at 183 Cartier Street Manchester, NH.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: High Income Potential: $64,210 annual income from apartments.; Five Detached Garages: Seller willing to pre‑pay $30,000 for 5 years' usage, deductible from the price.; Recently Remodeled Apartments: All three units have been remodeled.
