Two-Unit Duplex with Separate
New
For Sale
$399,000
15 Stevens Avenue, Nashua, NH 03060
MULTI_FAMILY - Other - Nashua, NH
Property Size1,620 SF
Lot Size0.05 Acres
Price / SF$246.30
Days on Market6
Property Features for 15 Stevens Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Driveway
Patio and Porch features
Patio, Deck
Exterior features
Deck, Garden Space, Natural Shade, Patio, Shed, Double Pane Window(s)
Appliances
Water Heater
Lot features
Level, Trail/ Near Trail, Walking Trails, Near Paths, Near Shopping, Near Public Transport, Near Hospital, Near School(s)
Elementary school
Ledge Street Elementary School
Middle school
Fairgrounds Middle School
High school
Nashua High School North
Elementary school district
Nashua School District
Middle school district
Nashua School District
High school district
Nashua School District
Directions
RT 3, Exit 6 (Broad St), Left onto RT130/Broad St, Right onto Veterans Memorial Hwy, Right onto Ledge St, Left onto Stevens Ave, Property on Right (2nd to last on street). Sign at beginning of street.
Standard status
Active
Size
1,620 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5032
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Baseboard, Electric (Heating), Space Heater
Water source
Public
Building Details
Year built
1954
Floors in Building
3
Number of units
2
Flooring type
Vinyl, Carpet, Combination, Laminate
Building materials
Vinyl Siding
Roof type
Shingle, Membrane, Flat
Architectural style
Other
Listing Agency:
Coldwell Banker Classic Realty · Coldwell Banker Real Estate
(603) 647-5718
Listed By:
Pam Fraser
(603) 647-5718
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 8 at 6:06PM
MLS# 5103188
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,620-square-foot duplex sits on a 0.05-acre city lot and contains two residential units, each with two bedrooms; the second unit also uses loft space as additional living area. Separate utilities serve the units, while vinyl siding, double-pane windows, and a newer roof support straightforward ownership. Interior finishes include carpet, laminate, and vinyl flooring, with baseboard and space-heater systems using natural gas and electric service. Each unit benefits from access to outdoor space, including a deck, patio, garden area, natural shade, and a storage shed. The property is being offered as-is/as-seen.
Located in Nashua, the property connects to the Nashua Heritage Rail Trail and is positioned near downtown amenities, shopping, and major commuter routes. Public water serves the building, and a driveway provides on-site parking. Constructed in 1954, the duplex offers a compact multifamily configuration with a practical combination of residential space and exterior features.
Located in Nashua, the property connects to the Nashua Heritage Rail Trail and is positioned near downtown amenities, shopping, and major commuter routes. Public water serves the building, and a driveway provides on-site parking. Constructed in 1954, the duplex offers a compact multifamily configuration with a practical combination of residential space and exterior features.
Key Highlights
- Two‑unit duplex with 1,620 square feet of building area
- Each unit includes 2 bedrooms; Unit 2 also uses loft space as living area
- Separate utilities for each residential 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
Multi-tenant
Tenancy
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 - RC-zoned duplex near downtown Nashua with updated roof and windows, separate utilities, and outdoor living areas.
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‑unit duplex with 1,620 square feet of building area; Each unit includes 2 bedrooms; Unit 2 also uses loft space as living area; Separate utilities for each residential unit
