Two-Unit Downtown
New
For Sale
$359,000
7 South St, Lebanon, NH 03766
Separate living areas offer a flexible configuration for an owner-occupant or rental strategy.
Property Size1,941 SF
Price / SF$184.96
Days on Market3
Property Features for 7 South St
General Information
Standard status
Active
Size
1,941 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
thoughtful rehab
Additional Details
Multifamily Units
2
Building Details
Year Built
1860
Listing Agency:
Coldwell Banker LIFESTYLES - Hanover
(603) 643-9405
Listed By:
Amy Redpath
Source:
603luxury
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:24PM
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 Coldwell Banker LIFESTYLES - Hanover
Investment Insights
Based on property information with market context.
Built in 1860, this duplex contains two distinct living areas within a 1,941-square-foot property in downtown Lebanon. The primary residence includes three bedrooms and two bathrooms and requires rehabilitation, providing an opportunity to update the space to a new owner's specifications.
A separate lower-level apartment adds two bedrooms and one full bathroom. The layout accommodates a range of ownership approaches, including occupying one unit while renting the other or operating the property as a two-unit rental. Its location at 7 South St places the property in downtown Lebanon, New Hampshire.
A separate lower-level apartment adds two bedrooms and one full bathroom. The layout accommodates a range of ownership approaches, including occupying one unit while renting the other or operating the property as a two-unit rental. Its location at 7 South St places the property in downtown Lebanon, New Hampshire.
Key Highlights
- Two‑unit duplex in downtown Lebanon
- 1,941‑square‑foot property built in 1860
- Main residence includes 3 bedrooms and 2 bathrooms
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
$19,260
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
5.36%
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%
$385,200
$385.2K
Cap Rate 7%
$275,143
$275.1K
Cap Rate 9%
$214,000
$214.0K
Market Conditions
NOI Build-Up for 1,941 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
$29.1K $15.00/SF
− Vacancy
−$1.6K −$0.83/SF
EGI
$27.5K $14.17/SF
− OpEx
−$8.3K −$4.25/SF
NOI
$19.3K $9.92/SF
Area
Grafton County, NH
Vacancy
5.50%
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%
$385,200
Cap Rate 7%
$275,143
Cap Rate 9%
$214,000
Alternative Uses
Best Use
Multifamily LT 5
$275.1K
$240.8K – $321.0K
NOI $19,260 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$252.1K
$220.6K – $294.1K
NOI $17,647 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$427.0K
$373.6K – $498.1K
NOI $29,887 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 03766, NH
9,838
Population
5,346
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
95%
High-School Grad
32.0 sq mi
ZIP Area
307
Density / Sq Mi
$96,642
Median Household Income
$53,441
Median Earnings
$1,860
Median Rent
$348,000
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 - Separate living areas offer a flexible configuration for an owner-occupant or rental strategy.
Where is this duplex located?
The property is located at 7 South St Lebanon, NH.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two‑unit duplex in downtown Lebanon; 1,941‑square‑foot property built in 1860; Main residence includes 3 bedrooms and 2 bathrooms
