Quadplex with Paved
New
For Sale
$650,000
1657 E Main St, Conway, NH 03813
Four-unit income property with a short-term rental residence and three occupied units.
Property Size5,206 SF
Price / SF$124.86
Days on Market2
Property Features for 1657 E Main St
General Information
Standard status
Active
Size
5,206 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 7BR/5BA
Multifamily Units
4
Additional Details
Road Access
Yes
Building Details
Year Built
1890
Listing Agency:
Heather Goodwin Of Exp Realty
Listed By:
Chadd Dempsey Real Estate Experts
(603) 472-1010
Source:
Dempseyteam
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:12AM
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 Heather Goodwin Of Exp Realty
Investment Insights
Based on property information with market context.
This four-unit property occupies 2+ acres at 1657 E Main St in Conway, NH. Built in 1890, the property includes a seven-bedroom, five-bathroom residence operated as a short-term rental, along with three additional units that are fully occupied. A large paved driveway provides multi-vehicle parking across the site.
The property is positioned along a traveled corridor leading toward Fryeburg and is within the regional tourism area referenced in the property information, including summer tubing, outlet shopping, and winter ski travel. The combination of four units, an operating short-term rental, and three occupied residences creates a varied property configuration for an owner or operator.
The property is positioned along a traveled corridor leading toward Fryeburg and is within the regional tourism area referenced in the property information, including summer tubing, outlet shopping, and winter ski travel. The combination of four units, an operating short-term rental, and three occupied residences creates a varied property configuration for an owner or operator.
Key Highlights
- Four‑unit property on 2+ acres
- Seven‑bedroom, five‑bathroom unit operated as a short‑term rental
- Three additional units are fully occupied
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
$53,575
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
8.24%
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%
$1,071,500
$1.1M
Cap Rate 7%
$765,357
$765.4K
Cap Rate 9%
$595,278
$595.3K
Market Conditions
NOI Build-Up for 5,206 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
$103.1K $19.80/SF
− Vacancy
−$5.7K −$1.09/SF
EGI
$97.4K $18.71/SF
− OpEx
−$43.8K −$8.42/SF
NOI
$53.6K $10.29/SF
Area
Carroll County, NH
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,071,500
Cap Rate 7%
$765,357
Cap Rate 9%
$595,278
Alternative Uses
Best Use
Multifamily LT 5
$865.1K
$757.0K – $1.01M
NOI $60,556 @ 7.0% cap · market cap 9.32%
Second Best
Apartment 5plus
$765.4K
$669.7K – $892.9K
NOI $53,575 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,994 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Explore this area
Business Placement
Demographics for 03813, NH
3,681
Population
2,661
Households
1.4
Avg Household Size
52
Median Age
33%
College-Educated
91%
High-School Grad
98.3 sq mi
ZIP Area
37
Density / Sq Mi
$58,299
Median Household Income
$35,625
Median Earnings
$1,363
Median Rent
$215,200
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?
Quadplex - Four-unit income property with a short-term rental residence and three occupied units.
Where is this quadplex located?
The property is located at 1657 E Main St Conway, NH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four‑unit property on 2+ acres; Seven‑bedroom, five‑bathroom unit operated as a short‑term rental; Three additional units are fully occupied
