Two-Family Residential Property with
For Sale
$499,000
17 Academy Street, Rochester, NH 03867
MULTI_FAMILY - Other - Rochester, NH
Property Size2,090 SF
Lot Size0.24 Acres
Price / SF$238.76
Days on Market94
Property Features for 17 Academy Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Basement, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Parking features
Garage, Driveway
Lot features
Level
Elementary school
William Allen School
Middle school
Rochester Middle School
High school
Spaulding High School
Elementary school district
Rochester School District
Middle school district
Rochester School District
High school district
Rochester School District
Directions
From downtown Rochester, take South Main St (NH-125) heading south. Turn right onto Academy St. Continue straight, the property will be on your right.
Standard status
Active
Size
2,090 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5799
Utilities
Utilities
Propane
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
3 season room
bonus room
private deck
expansive backyard
Building Details
Year built
1906
Floors in Building
2
Number of units
2
Building materials
Wood Frame, Vinyl Siding
Architectural style
Other
Listing Agency:
Century 21 North East · Century 21 Real Estate
(603) 893-8230
Listed By:
Yaneris Pena
(617) 293-5235
Added: May 6
Changed: Aug 2
Last Checked: Aug 7 at 2:06PM
MLS# 5087184
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 two-family residential property features a main unit with three bedrooms and two full bathrooms, with a flexible layout that includes a bright 3-season room and an additional bonus room suited for a home office, playroom, or guest space. The second unit offers one bedroom and one bathroom. The home includes a basement and is constructed with wood frame and vinyl siding.
The property sits on a 0.24-acre lot and is served by forced-air heating with natural gas. Parking includes a large driveway with space for approximately 6 vehicles and a 2-car garage. Utilities include propane, with water provided by public water.
Built in 1906, the property also offers an expansive backyard for outdoor entertaining and gatherings.
The property sits on a 0.24-acre lot and is served by forced-air heating with natural gas. Parking includes a large driveway with space for approximately 6 vehicles and a 2-car garage. Utilities include propane, with water provided by public water.
Built in 1906, the property also offers an expansive backyard for outdoor entertaining and gatherings.
Key Highlights
- Two‑family layout with main unit 3 bedrooms and 2 full baths plus bonus spaces
- Second unit has 1 bedroom and 1 bathroom
- Bright 3‑season room and an additional bonus room in the main 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
$21,216
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
4.25%
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%
$424,320
$424.3K
Cap Rate 7%
$303,086
$303.1K
Cap Rate 9%
$235,733
$235.7K
Market Conditions
NOI Build-Up for 2,090 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
$31.4K $15.00/SF
− Vacancy
−$1.0K −$0.50/SF
EGI
$30.3K $14.50/SF
− OpEx
−$9.1K −$4.35/SF
NOI
$21.2K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
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%
$424,320
Cap Rate 7%
$303,086
Cap Rate 9%
$235,733
Alternative Uses
Best Use
Multifamily LT 5
$303.1K
$265.2K – $353.6K
NOI $21,216 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$279.5K
$244.6K – $326.1K
NOI $19,567 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$559.1K
$489.3K – $652.3K
NOI $39,140 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Explore this area
Business Placement
Demographics for 03867, NH
22,369
Population
10,458
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
28.4 sq mi
ZIP Area
788
Density / Sq Mi
$74,397
Median Household Income
$42,613
Median Earnings
$1,217
Median Rent
$259,200
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?
Duplex - Two-family home on a 0.24-acre lot with 3-season room, second unit, and driveway parking plus a two-car garage.
Where is this duplex located?
The property is located at 17 Academy Street Rochester, NH.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑family layout with main unit 3 bedrooms and 2 full baths plus bonus spaces; Second unit has 1 bedroom and 1 bathroom; Bright 3‑season room and an additional bonus room in the main unit
