Two-Family Duplex on Corner
For Sale
$479,900
179-181 N State St, Concord, NH 03301
Circa-1860 two-family duplex with separate meters, natural gas heat, city water and sewer, and a full basement.
Property Size2,285 SF
Price / SF$210.02
Days on Market93
Property Features for 179-181 N State St
General Information
Standard status
Active
Size
2,285 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1860
Tenancy
Multi
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith
Listed By:
Cami K Navoy
(603) 569-4663
Source:
Lyvrealty
Added: Jul 10
Changed: Sep 23
Last Checked: Oct 7 at 3:39PM
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 KW Coastal and Lakes & Mountains Realty/Meredith
Investment Insights
Based on property information with market context.
This circa-1860 two-family duplex offers two separate units totaling 12 rooms and 6 bedrooms. The home features separate meters, with tenants paying their own heat, hot water, and electric. Additional property details include natural gas heat, an asphalt roof, city water and sewer services, and a full basement.
Set on a corner lot in Concord’s North End, the address runs straight down N State toward downtown, about a mile to the State House. The property is minutes to Concord Hospital and I-93/I-393.
With two long-term tenants already in place, the duplex provides an income-focused residential layout and utility setup that supports independent unit management.
Set on a corner lot in Concord’s North End, the address runs straight down N State toward downtown, about a mile to the State House. The property is minutes to Concord Hospital and I-93/I-393.
With two long-term tenants already in place, the duplex provides an income-focused residential layout and utility setup that supports independent unit management.
Key Highlights
- Circa‑1860 two‑family duplex with 2,285 SF, 12 rooms, and 6 total bedrooms
- Two long‑term tenants; each unit has separate meters and tenants pay their own heat, hot water, and electric
- Natural gas heat, city water and sewer, and an asphalt roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,822
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,440
$656.4K
Cap Rate 7%
$468,886
$468.9K
Cap Rate 9%
$364,689
$364.7K
Market Conditions
NOI Build-Up for 2,285 SF
Gross rent
$49.4K $21.60/SF
− Vacancy
−$2.5K −$1.08/SF
EGI
$46.9K $20.52/SF
− OpEx
−$14.1K −$6.16/SF
NOI
$32.8K $14.36/SF
Area
Merrimack County, NH
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,440
Cap Rate 7%
$468,886
Cap Rate 9%
$364,689
Alternative Uses
Best Use
Multifamily LT 5
$468.9K
$410.3K – $547.0K
NOI $32,822 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$432.1K
$378.1K – $504.1K
NOI $30,245 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$595.0K
$520.6K – $694.1K
NOI $41,648 @ 7.0% cap · market cap 8.68%
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
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 03301, NH
33,352
Population
14,486
Households
2.3
Avg Household Size
43
Median Age
42%
College-Educated
92%
High-School Grad
49.2 sq mi
ZIP Area
678
Density / Sq Mi
$85,943
Median Household Income
$49,749
Median Earnings
$1,355
Median Rent
$344,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Circa-1860 two-family duplex with separate meters, natural gas heat, city water and sewer, and a full basement.
Where is this duplex located?
The property is located at 179-181 N State St Concord, NH.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Circa‑1860 two‑family duplex with 2,285 SF, 12 rooms, and 6 total bedrooms; Two long‑term tenants; each unit has separate meters and tenants pay their own heat, hot water, and electric; Natural gas heat, city water and sewer, and an asphalt roof
