6-Unit Apartment Building with
For Sale
$1,375,000
339 Amherst St, Manchester, NH 03104
Fully occupied multifamily property with off-street parking, storage units, and washer and dryer hookups in every apartment.
Property Size8,310 SF
Price / SF$165.46
Days on Market30
Property Features for 339 Amherst St
General Information
Standard status
Active
Size
8,310 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 4BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$123,600
Amenities
washer and dryer hookups
refrigerator
gas or electric range
private deck
storage units
Building Details
Year Built
1860
Listing Agency:
Debra Hull Realty, LLC
(603) 493-4555
Listed By:
Debra Hull
Source:
Carolslocum
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 30 at 8:37PM
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 Debra Hull Realty, LLC
Investment Insights
Based on property information with market context.
This 8,310-square-foot apartment building contains six units, each with four bedrooms, one bathroom, a refrigerator, a gas or electric range, and washer and dryer hookups. Four apartments include private decks, while some bedrooms do not have closets. The property was built in 1860 and includes two forced hot water heating systems in the basement.
Located at 339 Amherst St in Manchester, NH, the property provides off-street parking for seven vehicles and five storage units. Tenants pay their own electricity and hot water; ownership covers heat, water, and sewer. The Certificate of Compliance is current, and the same owners have managed and maintained the property for more than 22 years. The building is fully occupied.
Located at 339 Amherst St in Manchester, NH, the property provides off-street parking for seven vehicles and five storage units. Tenants pay their own electricity and hot water; ownership covers heat, water, and sewer. The Certificate of Compliance is current, and the same owners have managed and maintained the property for more than 22 years. The building is fully occupied.
Key Highlights
- Six‑unit multifamily property with 8,310 SF of building area
- Each apartment includes 4 bedrooms and 1 bathroom
- Four units have private decks
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
$104,427
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
7.59%
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%
$2,088,540
$2.1M
Cap Rate 7%
$1,491,814
$1.5M
Cap Rate 9%
$1,160,300
$1.2M
Market Conditions
NOI Build-Up for 8,310 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
$199.4K $24.00/SF
− Vacancy
−$9.6K −$1.15/SF
EGI
$189.9K $22.85/SF
− OpEx
−$85.4K −$10.28/SF
NOI
$104.4K $12.57/SF
Area
Manchester, NH
Vacancy
4.80%
Lease Rate
$24.00 /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%
$2,088,540
Cap Rate 7%
$1,491,814
Cap Rate 9%
$1,160,300
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,427 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.04M
$1.79M – $2.38M
NOI $142,849 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 03104, NH
34,324
Population
15,715
Households
2.2
Avg Household Size
38
Median Age
43%
College-Educated
94%
High-School Grad
8.3 sq mi
ZIP Area
4,135
Density / Sq Mi
$84,513
Median Household Income
$48,513
Median Earnings
$1,455
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with off-street parking, storage units, and washer and dryer hookups in every apartment.
Where is this apartment building located?
The property is located at 339 Amherst St Manchester, NH.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Six‑unit multifamily property with 8,310 SF of building area; Each apartment includes 4 bedrooms and 1 bathroom; Four units have private decks
