Updated Two-Unit
New
For Sale
$449,000
15 Leavitt Rd, Pittsfield, NH 03263
Historic duplex with separate kitchens, living areas, and two-bedroom layouts in each residence.
Property Size2,394 SF
Price / SF$187.55
Days on Market3
Property Features for 15 Leavitt Rd
General Information
Standard status
Active
Size
2,394 SF
Property subtype
Multi-Family
Zoning
Commercial/Light Industrial
Amenities
air conditioning
Building Details
Year Built
1850
Listing Agency:
Coldwell Banker Realty Center Harbor NH
Listed By:
Ellen Mulligan
(603) 253-4345
Source:
Fhghomesnh
Added: Sep 1
Last Checked: Sep 2 at 7:21PM
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 Realty Center Harbor NH
Investment Insights
Based on property information with market context.
Built in 1850, this 2,394-square-foot duplex contains two residential units with practical layouts. Each unit includes a kitchen, living area, two bedrooms, one full bath, one half bath, and air conditioning. A new roof and mini-split systems are among the recent property updates.
The property is located at 15 Leavitt Rd in Pittsfield, NH 03263, and carries Commercial/Light Industrial zoning. Its two-unit configuration and separately arranged living spaces support residential occupancy while the zoning provides an additional layer of use flexibility, subject to applicable requirements.
The property is located at 15 Leavitt Rd in Pittsfield, NH 03263, and carries Commercial/Light Industrial zoning. Its two-unit configuration and separately arranged living spaces support residential occupancy while the zoning provides an additional layer of use flexibility, subject to applicable requirements.
Key Highlights
- 2,394‑square‑foot duplex with two residential units
- Each unit has a kitchen, living area, two bedrooms, one full bath, and one half bath
- Built in 1850
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
$34,387
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
7.66%
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%
$687,740
$687.7K
Cap Rate 7%
$491,243
$491.2K
Cap Rate 9%
$382,078
$382.1K
Market Conditions
NOI Build-Up for 2,394 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
$51.7K $21.60/SF
− Vacancy
−$2.6K −$1.08/SF
EGI
$49.1K $20.52/SF
− OpEx
−$14.7K −$6.16/SF
NOI
$34.4K $14.36/SF
Area
Merrimack County, NH
Vacancy
5.00%
Lease Rate
$21.60 /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%
$687,740
Cap Rate 7%
$491,243
Cap Rate 9%
$382,078
Alternative Uses
Best Use
Multifamily LT 5
$491.2K
$429.8K – $573.1K
NOI $34,387 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$452.7K
$396.1K – $528.1K
NOI $31,688 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$623.3K
$545.4K – $727.2K
NOI $43,634 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 03263, NH
4,094
Population
1,868
Households
2.2
Avg Household Size
41
Median Age
20%
College-Educated
91%
High-School Grad
24.5 sq mi
ZIP Area
167
Density / Sq Mi
$66,823
Median Household Income
$43,466
Median Earnings
$1,185
Median Rent
$270,600
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 - Historic duplex with separate kitchens, living areas, and two-bedroom layouts in each residence.
Where is this duplex located?
The property is located at 15 Leavitt Rd Pittsfield, NH.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,394‑square‑foot duplex with two residential units; Each unit has a kitchen, living area, two bedrooms, one full bath, and one half bath; Built in 1850
