Updated Duplex with Private
For Sale
$589,900
81 Stark Avenue, Dover, NH 03820
Well-maintained duplex with updated interiors, both units with laundry, and tenant-paid heat and hot water for lower operating costs.
Property Size2,062 SF
Price / SF$231.42
Days on Market79
Property Features for 81 Stark Avenue
General Information
Standard status
Active
Size
2,062 SF
Property subtype
Multi Family Home
Zoning
R-12
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,230
Building Details
Building Size
2,062 SF
Year Built
1850
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Central Falls Realty
(603) 285-0027
Listed By:
Paula Forbes
(603) 285-0027
Source:
Threehillsres
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 20 at 2:21PM
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 Central Falls Realty
Investment Insights
Based on property information with market context.
This well-maintained duplex offers a two-unit setup with multiple recent updates. The front and back units have refreshed kitchens, new flooring, new windows, new siding, and a new front door. Heating is supported by a newer boiler, and the back unit’s heat is approximately 3–4 years old. Both units include laundry, and tenants pay their own heat and hot water, which can help reduce landlord-paid utilities. A private, semi-fenced backyard completes the property.
The property is located within walking distance to town. The income-generating front unit is currently leased at $3,000 per month, providing ongoing rental income in an owner-occupied or investment scenario.
From a tenant or buyer fit perspective, this is designed for straightforward, live-and-earn or rental-focused ownership, with two separate units and in-unit laundry for convenience. The extensive exterior and interior improvements noted in the updates can also simplify near-term maintenance planning, while tenant-paid heating and hot water help keep operating expenses more predictable.
The property is located within walking distance to town. The income-generating front unit is currently leased at $3,000 per month, providing ongoing rental income in an owner-occupied or investment scenario.
From a tenant or buyer fit perspective, this is designed for straightforward, live-and-earn or rental-focused ownership, with two separate units and in-unit laundry for convenience. The extensive exterior and interior improvements noted in the updates can also simplify near-term maintenance planning, while tenant-paid heating and hot water help keep operating expenses more predictable.
Key Highlights
- Well‑maintained duplex (built 1850) within walking distance to town
- Front unit is leased for $3,000/month
- Updates include new windows, new siding, new front door, new flooring, and refreshed kitchens in both units
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
$25,876
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
4.39%
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%
$517,520
$517.5K
Cap Rate 7%
$369,657
$369.7K
Cap Rate 9%
$287,511
$287.5K
Market Conditions
NOI Build-Up for 2,549 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
$38.2K $15.00/SF
− Vacancy
−$1.3K −$0.50/SF
EGI
$37.0K $14.50/SF
− OpEx
−$11.1K −$4.35/SF
NOI
$25.9K $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 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%
$517,520
Cap Rate 7%
$369,657
Cap Rate 9%
$287,511
Alternative Uses
Best Use
Multifamily LT 5
$369.7K
$323.5K – $431.3K
NOI $25,876 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$340.9K
$298.3K – $397.8K
NOI $23,865 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$681.9K
$596.7K – $795.6K
NOI $47,736 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
322
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 - Well-maintained duplex with updated interiors, both units with laundry, and tenant-paid heat and hot water for lower operating costs.
Where is this duplex located?
The property is located at 81 Stark Avenue Dover, NH.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Well‑maintained duplex (built 1850) within walking distance to town; Front unit is leased for $3,000/month; Updates include new windows, new siding, new front door, new flooring, and refreshed kitchens in both units
