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    Three-Unit Residential Income Property Title is generated by Realmo AI

    14-16 Grove Street, Keene, NH 03431

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    For Sale
    $325,000

    Three-unit rental property with attached two-car carport and off-street parking near downtown and Keene State College.

    Type:Multi Family Home
    Property size:
    3,361 SF
    Price / SF:
    $96/SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:47 am

    Property Features for 14-16 Grove Street

    General Information

    Standard status
    Active
    Size
    3,361 SF
    Property subtype
    Multi Family Home

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Timothy Keating

    Listing agent Timothy Keating

    Listing office Bhg Masiello Keene

    Listing date Jun 3, 2026

    Source Threehillsres

    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 Bhg Masiello Keene

    HighLights

    • 3‑unit rental property built in 1910
    • Front 1‑bedroom apartments are on month‑to‑month rental terms
    • Back unit needs a new bathroom due to a recent fire; remainder is in good condition
    • Attached 2‑car carport plus additional off‑street parking
    • Insulation and new windows installed a few years ago by Southwestern Community Services
    • Convenient location within walking distance to downtown and Keene State College

    Overview

    This three-unit residential income property includes front 1-bedroom apartments and a separate back unit. The front units are currently rented on a month-to-month basis. The back unit will need a new bathroom due to a recent fire, while the remainder of the unit is described as being in good condition. The building has had upgrades including insulation and new windows installed a few years ago by Southwestern Community Services, and it has been well maintained by the current owner for more than 40 years.

    The property is located within walking distance to downtown and Keene State College, supporting convenience for occupants and tenants. Parking is accommodated by an attached two-car carport plus additional parking on site.

    For buyers, the configuration offers the option to add to an existing rental portfolio, invest for the first time, or live in one unit while the other units provide rental income. The existing month-to-month leases in the front units may be attractive for buyers looking to assume operating momentum, with attention needed for the bathroom repair in the back unit.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Keene
    County
    Cheshire
    State
    New Hampshire
    Longitude
    -72.2732529
    Latitude
    42.9297894

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    FAQs

    What type of property is this?
    Triplex - Three-unit rental property with attached two-car carport and off-street parking near downtown and Keene State College.
    Where is this triplex located?
    The property is located at 14-16 Grove Street Keene, NH.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: 3‑unit rental property built in 1910; Front 1‑bedroom apartments are on month‑to‑month rental terms; Back unit needs a new bathroom due to a recent fire; remainder is in good condition
    (603) 499-2499
    We can help!
    Listing Contact
    Timothy Keating
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    14-16 Grove Street, Keene, NH 03431
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