Duplex with Separate
New
For Sale
$570,000
170 Oakland Avenue, Manchester, NH 03109
Multi-Family, Manchester, NH
Property Size1,824 SF
Lot Size0.04 Acres
Price / SF$312.50
Days on Market3
Property Features for 170 Oakland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Basement, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Lot features
City Lot, Corner, Level
Directions
Candia Rd to Woodbine Ave to Oakland Ave
Standard status
Active
Size
1,824 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5718
Utilities
Utilities
Cable Available
Heating system
Propane (Heating), Natural Gas
Water source
Public
Building Details
Year built
1911
Floors in Building
2
Number of units
2
Building materials
Wood Frame, Wood Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty One Group Next Level
(603) 262-3500
Listed By:
Ryan Kalantzis
(603) 389-6604
Added: Sep 25
Last Checked: Sep 27 at 1:06PM
MLS# 5111493
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 1,824-square-foot duplex contains two residences on a 0.04-acre corner lot. The upper apartment occupies two floors and has three or more bedrooms and two bathrooms; its upper level can function as a primary suite. The first-floor apartment offers two bedrooms and a fully renovated bathroom. Utilities are separately metered for the units.
Built in 1911, the property has a shingle roof, wood-frame construction, and public water. It is zoned R.
Built in 1911, the property has a shingle roof, wood-frame construction, and public water. It is zoned R.
Key Highlights
- Two residences with separate utilities
- Upper unit spans two floors, with 3+ bedrooms and 2 bathrooms
- First‑floor unit has 2 bedrooms and a fully renovated bathroom
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
$24,614
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
4.32%
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%
$492,280
$492.3K
Cap Rate 7%
$351,629
$351.6K
Cap Rate 9%
$273,489
$273.5K
Market Conditions
NOI Build-Up for 1,824 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
$37.2K $20.40/SF
− Vacancy
−$2.0K −$1.12/SF
EGI
$35.2K $19.28/SF
− OpEx
−$10.5K −$5.78/SF
NOI
$24.6K $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%
$492,280
Cap Rate 7%
$351,629
Cap Rate 9%
$273,489
Alternative Uses
Best Use
Multifamily LT 5
$351.6K
$307.7K – $410.2K
NOI $24,614 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$327.4K
$286.5K – $382.0K
NOI $22,921 @ 7.0% cap · market cap 4.02%
Theoretical Best
Specialty Retail
$447.9K
$391.9K – $522.6K
NOI $31,355 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 03109, NH
10,580
Population
4,250
Households
2.5
Avg Household Size
42
Median Age
34%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
1,469
Density / Sq Mi
$108,060
Median Household Income
$56,189
Median Earnings
$1,834
Median Rent
$350,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Separate utility service supports each residence in this two-unit property.
Where is this duplex located?
The property is located at 170 Oakland Avenue Manchester, NH.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Two residences with separate utilities; Upper unit spans two floors, with 3+ bedrooms and 2 bathrooms; First‑floor unit has 2 bedrooms and a fully renovated bathroom
