Colonial-Style Duplex with Detached
For Sale
$730,000
357 Gray Street, Manchester, NH 03103
Well-maintained duplex with two units, a partially finished basement, and an oversized detached two-car garage.
Property Size3,696 SF
Price / SF$197.51
Days on Market8
Property Features for 357 Gray Street
General Information
Standard status
Active
Size
3,696 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Amenities
irrigation system
solar panels
workshop space
Building Details
Building Size
3,080 SF
Year Built
1983
Construction
Colonial
Tenancy
Multi
Listing Agency:
Re/Max Synergy
(603) 472-3900
Listed By:
Richard Valentin Gutierrez · License #75620
Source:
Threehillsres
Added: Jul 24
Changed: Jul 26
Last Checked: Jul 30 at 12:47PM
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 Re/Max Synergy
Investment Insights
Based on property information with market context.
This spacious Colonial-style duplex offers two generously sized residential units and a valid Certificate of Compliance. The first-floor owner’s unit features four bedrooms and two bathrooms, including an open-concept living room, an eat-in kitchen, and a full bath with laundry on the main level. A partially finished basement adds additional living space with a recreation area, utility/workshop space, and a private primary suite with its own three-quarter bathroom.
The second-floor garden-style apartment has three bedrooms and one full bathroom, with a private rear entrance. The unit was recently renovated, including a new kitchen with stainless steel appliances, soft-close cabinetry, dovetail drawers, and granite countertops, along with luxury vinyl plank flooring. The bathroom has been updated with granite countertops and luxury vinyl flooring.
Outside, the property includes an oversized detached two-car garage with shelving and workshop space, as well as a driveway that accommodates 4–6 additional vehicles. Additional property improvements include an eight-zone irrigation system with drip lines and smartphone app compatibility, and leased solar panels that transfer to the new owner at closing.
The second-floor garden-style apartment has three bedrooms and one full bathroom, with a private rear entrance. The unit was recently renovated, including a new kitchen with stainless steel appliances, soft-close cabinetry, dovetail drawers, and granite countertops, along with luxury vinyl plank flooring. The bathroom has been updated with granite countertops and luxury vinyl flooring.
Outside, the property includes an oversized detached two-car garage with shelving and workshop space, as well as a driveway that accommodates 4–6 additional vehicles. Additional property improvements include an eight-zone irrigation system with drip lines and smartphone app compatibility, and leased solar panels that transfer to the new owner at closing.
Key Highlights
- 1983‑built Colonial‑style duplex with two spacious units and a valid Certificate of Compliance
- First‑floor unit offers 4 bedrooms and 2 baths, including an in‑unit laundry full bath
- Second‑floor garden‑style unit features 3 bedrooms and 1 full bath with a private rear entrance; recently renovated kitchen and bath
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.4k | $20.40 |
| − Vacancy | −$4.1k | −$1.12 |
| EGI | $71.3k | $19.28 |
| − OpEx | −$21.4k | −$5.78 |
| NOI | $49.9k | $13.49 |
3,696 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$712.5K
$623.5K – $831.3K
NOI $49,876 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$663.5K
$580.6K – $774.1K
NOI $46,445 @ 7.0% cap · market cap 6.36%
Theoretical Best
Specialty Retail
$907.6K
$794.2K – $1.06M
NOI $63,534 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 03103, NH
38,039
Population
16,166
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
9.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$70,049
Median Household Income
$41,243
Median Earnings
$1,322
Median Rent
$313,500
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?
Duplex - Well-maintained duplex with two units, a partially finished basement, and an oversized detached two-car garage.
Where is this duplex located?
The property is located at 357 Gray Street Manchester, NH.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 1983‑built Colonial‑style duplex with two spacious units and a valid Certificate of Compliance; First‑floor unit offers 4 bedrooms and 2 baths, including an in‑unit laundry full bath; Second‑floor garden‑style unit features 3 bedrooms and 1 full bath with a private rear entrance; recently renovated kitchen and bath
