Value-Add Four-Unit
For Sale
$1,200,800
357 Maplewood Avenue, Portsmouth, NH 03801
Four-unit multifamily property is offered for sale and requires significant updating.
Property Size4,580 SF
Price / SF$195.44
Days on Market73
Property Features for 357 Maplewood Avenue
General Information
Standard status
Active
Size
4,580 SF
Property subtype
Multi Family Home
Zoning
GRA
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,447
Building Details
Building Size
4,580 SF
Year Built
1890
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Bhhs Verani Seacoast
(603) 770-8600
Listed By:
Foss & Russell Group
(603) 770-8600
Source:
Threehillsres
Added: Jun 13
Changed: Aug 8
Last Checked: Aug 23 at 12:53PM
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 Seacoast
Investment Insights
Based on property information with market context.
This four-unit multifamily property presents a value-add opportunity for investors, builders, and contractors. The building needs significant updating, creating room for an experienced team to renovate and reposition the asset.
The property is located at 357 Maplewood Avenue in Portsmouth, New Hampshire, within walking distance to downtown Portsmouth. It is described as being convenient to local shops, dining, and commuter routes.
The offering includes a four-unit configuration and is being marketed as a project property, suitable for parties prepared to handle substantial renovation work.
The property is located at 357 Maplewood Avenue in Portsmouth, New Hampshire, within walking distance to downtown Portsmouth. It is described as being convenient to local shops, dining, and commuter routes.
The offering includes a four-unit configuration and is being marketed as a project property, suitable for parties prepared to handle substantial renovation work.
Key Highlights
- Four‑unit multifamily property requires significant updating
- Year built: 1890
- Located at 357 Maplewood Ave, Portsmouth, NH
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
$62,370
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
5.19%
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%
$1,247,400
$1.2M
Cap Rate 7%
$891,000
$891.0K
Cap Rate 9%
$693,000
$693.0K
Market Conditions
NOI Build-Up for 6,144 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
$92.2K $15.00/SF
− Vacancy
−$3.1K −$0.50/SF
EGI
$89.1K $14.50/SF
− OpEx
−$26.7K −$4.35/SF
NOI
$62.4K $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%
$1,247,400
Cap Rate 7%
$891,000
Cap Rate 9%
$693,000
Alternative Uses
Best Use
Multifamily LT 5
$891.0K
$779.6K – $1.04M
NOI $62,370 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$821.8K
$719.0K – $958.7K
NOI $57,523 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,060 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
Explore this area
Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
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?
Quadplex - Four-unit multifamily property is offered for sale and requires significant updating.
Where is this quadplex located?
The property is located at 357 Maplewood Avenue Portsmouth, NH.
What is the asking price?
The asking price for this property is $1,200,800.
What are key features of this property?
This property features: Four‑unit multifamily property requires significant updating; Year built: 1890; Located at 357 Maplewood Ave, Portsmouth, NH
