Triplex with Separate
New
For Sale
$729,900
17 Hevey Street, Manchester, NH 03102
Multi-Family, Manchester, NH
Property Size4,524 SF
Lot Size0.12 Acres
Price / SF$161.34
Days on Market2
Property Features for 17 Hevey Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
11
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 2, Bedroom 10, Bedroom 7, Bedroom 8, Bathroom 2, Bedroom 4, Bedroom 11, Bathroom 3, Bedroom 1, Bedroom 6, Basement, Bedroom 9
Lot features
City Lot
Elementary school
Gossler Park Elementary School
Middle school
Parkside Middle School
High school
Manchester West High School
Elementary school district
Manchester School District
Middle school district
Manchester School District
High school district
Manchester School District
Standard status
Active
Size
4,524 SF
Lot size
0.12 Acres
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
washer and dryer hookups
driveway parking
Building Details
Year built
1910
Floors in Building
4
Number of units
3
Building materials
Wood Frame, Other Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
LXTN Realty
Listed By:
Allyce Stevens
(877) 438-5986
Added: Sep 25
Changed: Sep 26
Last Checked: Sep 26 at 6:06AM
MLS# 5111514
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 Manchester triplex contains three residential units within a 4,524-square-foot building on a 0.12-acre parcel. The property was built in 1910 and has a partially finished attic and basement. Each unit includes washer and dryer hookups, and the units have separate utilities. Driveway parking provides off-street spaces for residents.
The property is at 17 Hevey Street in Manchester, near shopping, dining, everyday amenities, and major commuter routes. Public water service is available, and the building is heated by natural gas with forced-air distribution.
The property is at 17 Hevey Street in Manchester, near shopping, dining, everyday amenities, and major commuter routes. Public water service is available, and the building is heated by natural gas with forced-air distribution.
Key Highlights
- Three‑unit residential property totaling 4,524 square feet
- Each unit has washer and dryer hookups and separate utilities
- 0.12‑acre parcel with driveway parking
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
$61,050
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
8.36%
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%
$1,221,000
$1.2M
Cap Rate 7%
$872,143
$872.1K
Cap Rate 9%
$678,333
$678.3K
Market Conditions
NOI Build-Up for 4,524 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
$92.3K $20.40/SF
− Vacancy
−$5.1K −$1.12/SF
EGI
$87.2K $19.28/SF
− OpEx
−$26.2K −$5.78/SF
NOI
$61.0K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /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%
$1,221,000
Cap Rate 7%
$872,143
Cap Rate 9%
$678,333
Alternative Uses
Best Use
Multifamily LT 5
$872.1K
$763.1K – $1.02M
NOI $61,050 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$812.1K
$710.6K – $947.5K
NOI $56,850 @ 7.0% cap · market cap 7.79%
Theoretical Best
Specialty Retail
$1.11M
$972.1K – $1.30M
NOI $77,768 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
958
Businesses Nearby
Explore this area
Business Placement
Demographics for 03102, NH
33,396
Population
15,264
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
9.1 sq mi
ZIP Area
3,670
Density / Sq Mi
$69,927
Median Household Income
$43,518
Median Earnings
$1,533
Median Rent
$309,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has laundry hookups, with driveway parking and extra space in the attic and basement.
Where is this triplex located?
The property is located at 17 Hevey Street Manchester, NH.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: Three‑unit residential property totaling 4,524 square feet; Each unit has washer and dryer hookups and separate utilities; 0.12‑acre parcel with driveway parking
