3-Unit Triplex with
For Sale
$1,350,000
197 Richards Avenue, Portsmouth, NH 03801
Each residence has its own washer and dryer, with off-street parking behind the building.
Property Size2,405 SF
Lot Size0.24 Acres
Price / SF$561.33
Days on Market128
Property Features for 197 Richards Avenue
General Information
Standard status
Active
Size
2,405 SF
Lot size
0.24 Acres
Property subtype
Multi Family Home
Zoning
GRA
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$15,641
Amenities
in-unit washer and dryer
off-street parking
Building Details
Building Size
2,405 SF
Year Built
1900
Stories
2
Units
3
Listing Agency:
Carey Giampa, LLC/Rye
(603) 964-7000
Listed By:
Brady Roche
(207) 703-8249
Source:
Appleisland
Added: Jul 2
Changed: Nov 4
Last Checked: Nov 6 at 4:11AM
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 Carey Giampa, LLC/Rye
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Investment Insights
Based on property information with market context.
This Portsmouth triplex contains three residential units with approximately 2,405 square feet of finished living area. Each unit is equipped with an in-unit washer and dryer, and off-street parking is positioned at the rear of the building. The property was built in 1900 and occupies a 0.24-acre lot.
Located at 197 Richards Avenue, the property is in Portsmouth’s Little Harbor neighborhood, near downtown. Zoning is GRA.
Located at 197 Richards Avenue, the property is in Portsmouth’s Little Harbor neighborhood, near downtown. Zoning is GRA.
Key Highlights
- Three residential units with approximately 2,405 square feet of finished living space
- Each unit has its own washer and dryer
- 0.24‑acre lot with off‑street parking behind the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,515
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,300
$810.3K
Cap Rate 7%
$578,786
$578.8K
Cap Rate 9%
$450,167
$450.2K
Market Conditions
NOI Build-Up for 2,405 SF
Gross rent
$60.6K $25.20/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$57.9K $24.07/SF
− OpEx
−$17.4K −$7.22/SF
NOI
$40.5K $16.85/SF
Area
Rockingham County, NH
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,300
Cap Rate 7%
$578,786
Cap Rate 9%
$450,167
Alternative Uses
Best Use
Multifamily LT 5
$578.8K
$506.4K – $675.3K
NOI $40,515 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$800.7K
$700.6K – $934.1K
NOI $56,048 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,523
Businesses Nearby
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Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Rockingham County, NH
Properties on Market for Triplexes in Rockingham County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has its own washer and dryer, with off-street parking behind the building.
Where is this triplex located?
The property is located at 197 Richards Avenue Portsmouth, NH.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three residential units with approximately 2,405 square feet of finished living space; Each unit has its own washer and dryer; 0.24‑acre lot with off‑street parking behind the building
