Three-Unit Multifamily
190 Ray Street Manchester, NH 03104
New
190 Ray Street, Manchester, NH, 03104
$649,900
For Sale
$649,900
MULTI_FAMILY - Colonial - Manchester, NH
Property Size3,307 SF
Lot Size0.18 Acres
Price / SF$196.52
Days on Market2
Property Features for 190 Ray Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Res
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 4, Bedroom 1, Basement, Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 2
- Parking features
- On Street
- Exterior features
- Garden Space, Natural Shade, Storage
- Standard status
- Active
- Size
- 3,307 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 8065
Utilities
- Heating system
- Oil, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1870
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Carpet, Hardwood, Laminate
- Building materials
- Aluminum Siding
- Roof type
- Shingle
- Architectural style
- Colonial
- Additional Structures
- Storage
Listing Agency
RE/MAX Synergy
(603) 472-3900
One Constitution Drive, Goffstown, NH
Listed by
Mark Lynch
(603) 647-8000
Added: Jul 20 Checked: Jul 21 at 2:06 am
MLS# 5100708
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.
Investment Insights
Based on property information with market context.
This well-maintained three-family property offers classic Colonial character and includes three occupied apartments: two units with 2 bedrooms and 1 bathroom, and one unit with 1 bedroom and 1 bathroom. The home was built in 1870 and includes a mix of hardwood, laminate, and carpet flooring. Public water and sewer are available, and the property has natural gas and oil heating. Off-street parking is provided.
190 Ray Street in Manchester, NH is currently fully occupied on month-to-month leases. Reported current rental income totals $5,400 per month, and each tenant is responsible for their own heat, hot water, and electricity through separate utilities. The finished living area is 3,307 square feet, and the property sits on a 0.18-acre lot.
The unit mix and separate utilities can appeal to investors seeking established rental income, or owner-occupants looking to offset housing costs with on-site tenants.
190 Ray Street in Manchester, NH is currently fully occupied on month-to-month leases. Reported current rental income totals $5,400 per month, and each tenant is responsible for their own heat, hot water, and electricity through separate utilities. The finished living area is 3,307 square feet, and the property sits on a 0.18-acre lot.
The unit mix and separate utilities can appeal to investors seeking established rental income, or owner-occupants looking to offset housing costs with on-site tenants.
Key Highlights
- Three‑family Colonial built in 1870 with 2 two‑bedroom/1‑bath units and 1 one‑bedroom/1‑bath unit
- All three apartments are currently occupied on month‑to‑month leases
- Current total rent is $5,400/month ($64,800/year)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.5k | $20.40 |
| − Vacancy | −$3.7k | −$1.12 |
| EGI | $63.8k | $19.28 |
| − OpEx | −$19.1k | −$5.78 |
| NOI | $44.6k | $13.49 |
3,307 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$637.5K
$557.8K – $743.8K
NOI $44,627 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$593.7K
$519.5K – $692.6K
NOI $41,557 @ 7.0% cap · market cap 6.39%
Theoretical Best
Specialty Retail
$812.1K
$710.6K – $947.5K
NOI $56,847 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family residence with two 2BR/1BA units and one 1BR/1BA unit, plus off-street parking and separate utilities.
Where is this triplex located?
The property is located at 190 Ray Street Manchester, NH.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Three‑family Colonial built in 1870 with 2 two‑bedroom/1‑bath units and 1 one‑bedroom/1‑bath unit; All three apartments are currently occupied on month‑to‑month leases; Current total rent is $5,400/month ($64,800/year)
