Fully Rented Three-Unit Multifamily
For Sale
$525,000
Pending
19 Sanders Street, Concord, NH 03303
Three-unit multifamily property in downtown Penacook with strong cash flow.
Property Size2,764 SF
Days on Market133
Property Features for 19 Sanders Street
General Information
Standard status
Pending
Size
2,764 SF
Property subtype
Multi Family
Zoning
CBP
Taxes and HOA fees
Annual Taxes
$7,877
Amenities
Natural Gas, Gas Heater
Yes
Combination
Separate Water Heater
3
Walkout
Full, Unfinished
14
Architectural Shingle
Yellow
Wood Frame, Asbestos Exterior
Building Details
Year Built
1900
Listing Agency:
BHHS Verani Concord
(603) 573-5353
Listed By:
Jeremy White
(603) 573-5353
Source:
Compass
Added: Apr 14
Changed: Aug 23
Last Checked: Jul 24 at 2:34PM
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 BHHS Verani Concord
Investment Insights
Based on property information with market context.
This fully rented three-unit multifamily property is located in downtown Penacook, approximately two miles from Exit 17 on Interstate 93. The property offers immediate cash flow and potential for portfolio growth. The tenants are responsible for their own utilities, excluding water and sewer. The building provides ample off-street parking and a detached two-car garage. The unit mix includes a one-bedroom first-floor unit with office space, an eat-in kitchen, a large pantry with a washer and dryer area, and an enclosed porch. The second-floor unit is a spacious three-bedroom apartment with living and dining rooms, a washer/dryer, and access to a shared enclosed porch. The third-floor unit features two bedrooms, a 3/4 bath, and an open-concept living area. Additional basement storage is available. Situated on a one-way street with sidewalks, the property is near restaurants, parks, and local amenities. The property is positioned for long-term rental stability.
Key Highlights
- Fully rented three‑unit multifamily property providing immediate cash flow.
- Convenient location in downtown Penacook, just two miles from Interstate 93 (Exit 17).
- Tenants pay their own utilities (except water/sewer), minimizing operating expenses.
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
$39,702
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
7.56%
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%
$794,040
$794.0K
Cap Rate 7%
$567,171
$567.2K
Cap Rate 9%
$441,133
$441.1K
Market Conditions
NOI Build-Up for 2,764 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
$59.7K $21.60/SF
− Vacancy
−$3.0K −$1.08/SF
EGI
$56.7K $20.52/SF
− OpEx
−$17.0K −$6.16/SF
NOI
$39.7K $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 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%
$794,040
Cap Rate 7%
$567,171
Cap Rate 9%
$441,133
Alternative Uses
Best Use
Multifamily LT 5
$567.2K
$496.3K – $661.7K
NOI $39,702 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$522.6K
$457.3K – $609.8K
NOI $36,585 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$719.7K
$629.7K – $839.6K
NOI $50,378 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 03303, NH
16,516
Population
6,907
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
67.8 sq mi
ZIP Area
244
Density / Sq Mi
$79,688
Median Household Income
$49,648
Median Earnings
$1,363
Median Rent
$274,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit multifamily property in downtown Penacook with strong cash flow.
Where is this triplex located?
The property is located at 19 Sanders Street Concord, NH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully rented three‑unit multifamily property providing immediate cash flow.; Convenient location in downtown Penacook, just two miles from Interstate 93 (Exit 17).; Tenants pay their own utilities (except water/sewer), minimizing operating expenses.
