Duplex Property with Mixed-Use
For Sale
$400,000
18 & 20 Wakefield Street, Rochester, NH 03867
Multi-Family, Rochester, NH
Property Size1,300 SF
Lot Size0.07 Acres
Price / SF$307.69
Days on Market193
Property Features for 18 & 20 Wakefield Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
DTC
Rooms
Basement
Patio and Porch features
Porch
Exterior features
Covered Porch
Lot features
In Town
Directions
Directly across from the Rochester Assessing Department
Standard status
Active
Size
1,300 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7290
Utilities
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Wood Frame, Clapboard Exterior
Roof type
Shingle
Listing Agency:
Your Next Move Realty LLC
(603) 441-4034
Listed By:
Peter Morgan
(603) 365-5196
Added: Feb 18
Changed: Aug 28
Last Checked: Aug 30 at 6:06PM
MLS# 5077070
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.
The offering includes two buildings on Wakefield Street. The property at 20 Wakefield Street, also identified as 2 Barker Court, is described as a two-unit residential building with units A and B. The adjoining 18 Wakefield Street property is a mixed-use three-unit building with a former dental office on the first floor and two residential rental units above.
The combined property information identifies 0.07 acres and 1,300 square feet, with construction dating to 1900. Improvements include wood-frame construction, clapboard exterior siding, shingle roofing, a covered porch, basement space, and public water. The property is zoned DTC and is located in Rochester, NH 03867. The buildings are noted as needing rehabilitation, and showings require 24–48 hours’ notice because of tenant access.
The combined property information identifies 0.07 acres and 1,300 square feet, with construction dating to 1900. Improvements include wood-frame construction, clapboard exterior siding, shingle roofing, a covered porch, basement space, and public water. The property is zoned DTC and is located in Rochester, NH 03867. The buildings are noted as needing rehabilitation, and showings require 24–48 hours’ notice because of tenant access.
Key Highlights
- Two‑unit residential building at 20 Wakefield Street with units A and B
- Mixed‑use three‑unit building at 18 Wakefield Street
- Two residential rental units are located above the first‑floor former dental office
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
$13,197
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
3.30%
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%
$263,940
$263.9K
Cap Rate 7%
$188,529
$188.5K
Cap Rate 9%
$146,633
$146.6K
Market Conditions
NOI Build-Up for 1,300 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
$19.5K $15.00/SF
− Vacancy
−$647 −$0.50/SF
EGI
$18.9K $14.50/SF
− OpEx
−$5.7K −$4.35/SF
NOI
$13.2K $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%
$263,940
Cap Rate 7%
$188,529
Cap Rate 9%
$146,633
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$165.0K – $220.0K
NOI $13,197 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$173.9K
$152.1K – $202.9K
NOI $12,171 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$347.8K
$304.3K – $405.8K
NOI $24,345 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
657
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 Wakefield Street buildings offer residential units, a mixed-use configuration, and substantial rehabilitation needs.
Where is this duplex located?
The property is located at 18 & 20 Wakefield Street Rochester, NH.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit residential building at 20 Wakefield Street with units A and B; Mixed‑use three‑unit building at 18 Wakefield Street; Two residential rental units are located above the first‑floor former dental office
