Two-Family Residential Income
2 Lee Street Somersworth, NH 03878
For Sale
$559,000
Two separate units with in-unit laundry and a deck, plus an additional barn-style space for flexible workspace or expansion.
Property Size2,438 SF
Price / SF$229.29
Days on Market52
Property Features for 2 Lee Street
General Information
- Standard status
- Active
- Size
- 2,438 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1905
Listing Agency:
The Aland Realty Group
(603) 501-0463
Listed By:
Priscilla Ford
Source:
Threehillsres
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 25 at 10:06AM
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 The Aland Realty Group
Investment Insights
Based on property information with market context.
2 Lee Street is a two-family residential property offering a comfortable, private layout for both units. The downstairs unit includes a well-appointed kitchen and an open, light-filled floor plan, along with character details such as hardwood floors and generous closet space. The upstairs unit has its own private entrance and includes two bedrooms, spacious closets, a bonus room, and additional rooms that can be used as an office, yoga space, or other flexible areas, plus in-unit washer and dryer. A second-story deck adds outdoor living space for the upper level. An additional barn-style space provides extra versatility and can be used as a studio, office, workshop, or adapted for expansion.
The property is set in a peaceful neighborhood close to town, with walkability to town and a nearby baseball field. Outside, the landscaped yard offers room for relaxing, entertaining, or play, and there is ample parking for residents and guests.
This home is well suited for buyers seeking multi-generational living or rental income, with separate unit access and practical, livable spaces in both levels. The added barn-style space supports tenants or owners who need a dedicated work area, hobby room, or the ability to create additional functionality over time.
The property is set in a peaceful neighborhood close to town, with walkability to town and a nearby baseball field. Outside, the landscaped yard offers room for relaxing, entertaining, or play, and there is ample parking for residents and guests.
This home is well suited for buyers seeking multi-generational living or rental income, with separate unit access and practical, livable spaces in both levels. The added barn-style space supports tenants or owners who need a dedicated work area, hobby room, or the ability to create additional functionality over time.
Key Highlights
- Two‑family home built in 1905 with two separate units and shared residential privacy
- Downstairs unit features a well‑appointed kitchen and an open, light‑filled floor plan
- Upstairs unit has 2 bedrooms, a bonus room, two additional rooms, and in‑unit washer and dryer
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 | $36.6k | $15.00 |
| − Vacancy | −$1.2k | −$0.50 |
| EGI | $35.4k | $14.50 |
| − OpEx | −$10.6k | −$4.35 |
| NOI | $24.7k | $10.15 |
2,438 SF · lease $15.00/SF/yr · vacancy 3.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$353.6K
$309.4K – $412.5K
NOI $24,749 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$326.1K
$285.3K – $380.4K
NOI $22,826 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$652.2K
$570.7K – $761.0K
NOI $45,657 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two separate units with in-unit laundry and a deck, plus an additional barn-style space for flexible workspace or expansion.
Where is this duplex located?
The property is located at 2 Lee Street Somersworth, NH.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Two‑family home built in 1905 with two separate units and shared residential privacy; Downstairs unit features a well‑appointed kitchen and an open, light‑filled floor plan; Upstairs unit has 2 bedrooms, a bonus room, two additional rooms, and in‑unit washer and dryer
