Two-Unit Duplex With Separate
For Sale
$399,000
15 Stevens Avenue, Nashua, NH 03060
Two residential units offer flexible layouts, vinyl siding, and recently replaced roof and windows.
Property Size1,620 SF
Price / SF$246.30
Days on Market14
Property Features for 15 Stevens Avenue
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi-family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1954
Listing Agency:
Coldwell Banker Classic Realty
Listed By:
Pam Fraser
(603) 673-7314
Source:
Proctorandgreene
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 11 at 10:35AM
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 Classic Realty
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,620 square feet and was built in 1954. Each unit has two bedrooms and receives separate utility service, while the second unit includes loft space that expands its living area. Vinyl siding, a newer roof, and newer windows are among the property’s existing improvements. The building is being sold as-is/as-seen.
Set on a city lot at 15 Stevens Avenue in Nashua, the property connects to the Nashua Heritage Rail Trail and is near downtown amenities, shopping, and major commuter routes. The configuration provides two distinct residences within a single building, with the second unit offering additional flexibility through its loft area.
Set on a city lot at 15 Stevens Avenue in Nashua, the property connects to the Nashua Heritage Rail Trail and is near downtown amenities, shopping, and major commuter routes. The configuration provides two distinct residences within a single building, with the second unit offering additional flexibility through its loft area.
Key Highlights
- Two‑family duplex with 1,620 square feet
- Two bedrooms in each unit; Unit 2 includes loft space
- Separate utilities serve each unit
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
$23,790
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
5.96%
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%
$475,800
$475.8K
Cap Rate 7%
$339,857
$339.9K
Cap Rate 9%
$264,333
$264.3K
Market Conditions
NOI Build-Up for 1,620 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
$36.0K $22.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$34.0K $20.98/SF
− OpEx
−$10.2K −$6.29/SF
NOI
$23.8K $14.69/SF
Area
Hillsborough County, NH
Vacancy
5.50%
Lease Rate
$22.20 /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%
$475,800
Cap Rate 7%
$339,857
Cap Rate 9%
$264,333
Alternative Uses
Best Use
Multifamily LT 5
$339.9K
$297.4K – $396.5K
NOI $23,790 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$314.9K
$275.5K – $367.4K
NOI $22,042 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$2.97M
$2.60M – $3.46M
NOI $207,765 @ 7.0% cap · market cap 52.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 03060, NH
31,251
Population
13,003
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
6.6 sq mi
ZIP Area
4,735
Density / Sq Mi
$78,068
Median Household Income
$44,628
Median Earnings
$1,539
Median Rent
$338,700
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 - Two residential units offer flexible layouts, vinyl siding, and recently replaced roof and windows.
Where is this duplex located?
The property is located at 15 Stevens Avenue Nashua, NH.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑family duplex with 1,620 square feet; Two bedrooms in each unit; Unit 2 includes loft space; Separate utilities serve each unit
