Two-Unit Ranch
For Sale
$589,900
Pending
304 Pembroke Street, Pembroke, NH 03275
Distinctive 2-unit ranch duplex with separate utilities, two bedrooms per unit, and walk-out lower levels.
Property Size3,794 SF
Days on Market506
Property Features for 304 Pembroke Street
General Information
Standard status
Pending
Size
3,794 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
Mixed- Commercial/Residen
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,622
Amenities
Curbside
Central AC
Forced Air
Yes
Hardwood, Vinyl
Water Heater – Gas
1
2
Walkout
Climate Controlled, Finished, Full, Sump Pump, Walkout
8
Shingle - Asphalt
Gray
Deck
Vinyl Siding
Building Details
Year Built
1958
Stories
2
Tenancy
Multi
Listing Agency:
April Dunn & Associates LLC
Listed By:
April Dunn
(603) 565-5921
Source:
Compass
Added: Apr 18, 2025
Changed: Aug 8
Last Checked: Jul 24 at 1:04PM
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 April Dunn & Associates LLC
Investment Insights
Based on property information with market context.
This distinctive two-family ranch-style duplex offers two units, each designed on a single level. Both residences include two bedrooms with hardwood floors and built-ins. Each unit also features a walk-out lower level that is currently used as an educational setting, with the space laid out for flexible adaptation.
The units operate on separate utilities for privacy and convenience, with city services, natural gas heating, and central air conditioning. Outside, there is a fenced backyard with mature plantings and a flat, usable yard. A detached two-car garage provides additional storage and parking.
The property is served by a configuration intended to support both everyday comfort and adaptable lower-level space within each unit.
The units operate on separate utilities for privacy and convenience, with city services, natural gas heating, and central air conditioning. Outside, there is a fenced backyard with mature plantings and a flat, usable yard. A detached two-car garage provides additional storage and parking.
The property is served by a configuration intended to support both everyday comfort and adaptable lower-level space within each unit.
Key Highlights
- Distinctive 2‑family ranch duplex built in 1958 with two bedrooms per unit
- Each unit is on a single level with hardwood flooring and custom built‑ins
- Walk‑out lower level is climate controlled, finished, includes a sump pump, and is accessible from the basement
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
$50,219
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
8.51%
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%
$1,004,380
$1.0M
Cap Rate 7%
$717,414
$717.4K
Cap Rate 9%
$557,989
$558.0K
Market Conditions
NOI Build-Up for 3,794 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
$95.6K $25.20/SF
− Vacancy
−$4.3K −$1.13/SF
EGI
$91.3K $24.07/SF
− OpEx
−$41.1K −$10.83/SF
NOI
$50.2K $13.24/SF
Area
Merrimack County, NH
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,004,380
Cap Rate 7%
$717,414
Cap Rate 9%
$557,989
Alternative Uses
Best Use
Multifamily LT 5
$778.5K
$681.2K – $908.3K
NOI $54,497 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$717.4K
$627.7K – $837.0K
NOI $50,219 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$987.9K
$864.4K – $1.15M
NOI $69,152 @ 7.0% cap · market cap 11.72%
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
Fenced yard
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 03275, NH
11,946
Population
4,739
Households
2.5
Avg Household Size
42
Median Age
25%
College-Educated
91%
High-School Grad
43.0 sq mi
ZIP Area
278
Density / Sq Mi
$84,776
Median Household Income
$43,850
Median Earnings
$1,258
Median Rent
$309,400
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 - Distinctive 2-unit ranch duplex with separate utilities, two bedrooms per unit, and walk-out lower levels.
Where is this duplex located?
The property is located at 304 Pembroke Street Pembroke, 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: Distinctive 2‑family ranch duplex built in 1958 with two bedrooms per unit; Each unit is on a single level with hardwood flooring and custom built‑ins; Walk‑out lower level is climate controlled, finished, includes a sump pump, and is accessible from the basement
