Building Details

Year Built 2005

Buildings 2

Listing Agency: Keller Williams Realty Metro-Concord a***@kw.com Show Phone

Listed By: Melissa Perrault

Source: Carolslocum

Added: Jul 31 Changed: Aug 29 Last Checked: Aug 25 at 4:15AM

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Investment Insights

Based on property information with market context.

This duplex property combines two separate residences on approximately 1+/- acre in Thornton. The main home offers approximately 1,300 sq. ft., two bedrooms plus bonus space, an open living area, first-floor bedroom, full bath, laundry, mini split, metal roof, portable generator, wood stove, and electric baseboard heat. A second residence provides approximately 1,032 sq. ft., two bedrooms, a 3/4 bath, loft-style bonus area, open living, kitchen, and dining areas, first-floor laundry, forced hot air heat, and a metal roof.

Each home has separate utilities, while the property is served by private water and septic systems. The location is minutes from I-93 and near hiking, skiing, golf, snowmobiling, ATV trails, kayaking, tubing, fishing, Owl’s Nest Resort, Waterville Valley, and Loon Mountain.

Key Highlights

• Two separate residences on approximately 1+/- acre
• Main home offers approximately 1,300 sq. ft. with 2 bedrooms plus bonus space
• Second home provides approximately 1,032 sq. ft. with 2 bedrooms and a loft‑style bonus area

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

$22,425

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

3.90%

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%

$448,500 $448.5K

Cap Rate 7%

$320,357 $320.4K

Cap Rate 9%

$249,167 $249.2K

Market Conditions

NOI Build-Up for 2,260 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

$33.9K $15.00/SF

− Vacancy

−$1.9K −$0.83/SF

EGI

$32.0K $14.17/SF

− OpEx

−$9.6K −$4.25/SF

NOI

$22.4K $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%

$448,500

Cap Rate 7%

$320,357

Cap Rate 9%

$249,167

Alternative Uses

Best Use

Multifamily LT 5

$320.4K

$280.3K – $373.8K (±1% cap)

NOI $22,425 @ 7.0% cap · market cap 3.90%

Second Best

Apartment 5plus

$293.5K

$256.8K – $342.5K (±1% cap)

NOI $20,547 @ 7.0% cap · market cap 3.57%

Theoretical Best

Office A

$497.1K

$435.0K – $580.0K (±1% cap)

NOI $34,799 @ 7.0% cap · market cap 6.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Spa & Massage Center Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 03285, NH

2,708

Population

1,982

Households

1.4

Avg Household Size

50

Median Age

42%

College-Educated

99%

High-School Grad

50.1 sq mi

ZIP Area

54

Density / Sq Mi

$81,094

Median Household Income

$45,099

Median Earnings

$1,269

Median Rent

$289,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Separate residences provide flexible living arrangements, private utilities, and access to White Mountains recreation near I-93.

Where is this duplex located?

The property is located at 151 /155 Mill Brook Rd Thornton, NH.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Two separate residences on approximately 1+/- acre; Main home offers approximately 1,300 sq. ft. with 2 bedrooms plus bonus space; Second home provides approximately 1,032 sq. ft. with 2 bedrooms and a loft‑style bonus area