Spacious Two-Family
For Sale
$510,000
17 Academy Street, Rochester, NH 03867
Well-maintained two-family property with rental income potential.
Property Size2,090 SF
Price / SF$244.02
Days on Market109
Property Features for 17 Academy Street
General Information
Standard status
Active
Size
2,090 SF
Property subtype
Multi Family
Zoning
R2
Taxes and HOA fees
Annual Taxes
$5,799
Building Details
Year Built
1906
Stories
2
Listing Agency:
Century 21 North East
(603) 820-9525
Listed By:
Yaneris Pena
(603) 820-9525
Source:
Laerrealty
Added: May 8
Changed: Aug 23
Last Checked: Aug 23 at 6:58AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This well-maintained two-family property features a spacious main unit with 3 bedrooms and 2 full bathrooms. The layout is flexible and functional, including a bright three-season room and an additional bonus room suitable for a home office, playroom, or guest space. A private deck adds to the unit's appeal. The second unit offers 1 bedroom and 1 bathroom, providing rental income potential. The property includes a two-car garage and a large driveway with parking for approximately 6 vehicles. The expansive backyard offers space for outdoor entertaining, gardening, or gatherings. The property is located in a very walkable area with a walk score of 82 and a bikeable area with a bike score of 51.
Key Highlights
- Main unit features 3 bedrooms and 2 full bathrooms with flexible layout.
- Second unit provides rental income potential.
- Large driveway with parking for approximately 6 vehicles.**
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
4.16%
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 4.16%
Second Best
Apartment 5plus
$279.5K
$244.6K – $326.1K
NOI $19,567 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$559.1K
$489.3K – $652.3K
NOI $39,140 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family property with rental income potential.
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 $510,000.
What are key features of this property?
This property features: Main unit features **3 bedrooms and 2 full bathrooms** with flexible layout.; Second unit provides rental income potential.; Large driveway with parking for approximately 6 vehicles.**
