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    Three-Unit Multifamily Property Title is generated by Realmo AI

    185 Park Street, Berlin, NH 03570

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    For Sale
    $240,000

    MULTI_FAMILY - Other - Berlin, NH

    Property size:
    2,590 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $92/SF
    Added:
    Sep 5, 2025
    Days on Market:
    274
    Last Refresh:
    Jun 5 at 8:06 am

    Property Features for 185 Park Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RT
    Rooms
    Basement
    Standard status
    Active
    Size
    2,590 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3620

    Utilities

    Utilities
    Cable Available
    Heating system
    Hot Water(Heating), Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    3
    Number of units
    3
    Building materials
    Wood Frame, Clapboard Exterior, Combination Exterior, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Susan Solar

    Listing agent Susan Solar

    Listing office A House To Home Realty 180 Main Street, Berlin, NH

    Listing date Sep 5, 2025

    MLS# 5060015 Listing URL

    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.

    HighLights

    • 3‑unit multifamily with a vacant first‑floor 2‑bedroom apartment for potential owner occupancy
    • Split living room layout on the first‑floor unit offers potential 3rd bedroom use
    • Second‑floor unit is rented; third‑floor unit needs some work
    • Basement level plus front and back porches; ATV access directly from the property
    • Hardwood floors in some rooms; some rooms include ceiling fans and laundry hookups in the units
    • 1900 construction with shingle roof; 4‑year‑old oil heating for 1st and 2nd floors and electric heat on the 3rd floor

    Overview

    This three-unit multifamily property includes spacious 2-bedroom apartment layouts. The first-floor unit is currently vacant, providing an immediate owner-occupancy option. That unit also features split living room space, which may allow for a third bedroom use. The second-floor unit is rented, while the third-floor unit needs some work.

    Interiors include hardwood floors and ceiling fans in some rooms. Laundry hookups are available within the apartments. The home has a split heating approach: a roughly four-year-old oil heating system covers the first and second floors, while the third floor is heated with electric heat. Residents also have access to front and back porches, and upper levels offer mountain views. ATV access is described as directly from the property.

    For buyers or operators, the property presents a straightforward three-unit setup with one unit ready for move-in flexibility and one unit already producing rental income, with the third unit requiring additional work. Multiple heating systems and apartment-level laundry hookups can support tenant convenience while simplifying service planning across floors. The layout and noted first-floor flexibility may appeal to an owner-occupant looking for more room within the first unit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Coos
    State
    New Hampshire
    Longitude
    -71.183414
    Latitude
    44.476494

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    FAQs

    What type of property is this?
    Triplex - Three-unit income property with mostly 2-bedroom layouts, mixed occupancy, and separate heating systems for flexible use.
    Where is this triplex located?
    The property is located at 185 Park Street Berlin, NH.
    What is the asking price?
    The asking price for this property is $240,000.
    What are key features of this property?
    This property features: 3‑unit multifamily with a vacant first‑floor 2‑bedroom apartment for potential owner occupancy; Split living room layout on the first‑floor unit offers potential 3rd bedroom use; Second‑floor unit is rented; third‑floor unit needs some work
    (603) 752-7202
    We can help!
    Listing Contact
    Susan Solar
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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