Victorian-Era Triplex with Carriage
New
For Sale
$549,900
2 Pleasant Street, Rochester, NH 03867
MULTI_FAMILY - Other - Rochester, NH
Property Size3,360 SF
Lot Size0.30 Acres
Price / SF$163.66
Days on Market4
Property Features for 2 Pleasant Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 5, Basement
Parking features
Off Street
Appliances
Water Heater off Boiler
Lot features
Landscaped, Level, In Town, Near Shopping, Near Public Transport
Elementary school
Chamberlain Street School
Middle school
Rochester Middle School
High school
Spaulding High School
Elementary school district
Rochester
Middle school district
Rochester
High school district
Rochester
Standard status
Active
Size
3,360 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1881
Floors in Building
3
Number of units
3
Building materials
Wood Frame, Wood Exterior
Roof type
Shingle, Other
Architectural style
Other
Listing Agency:
RE/MAX Shoreline · RE/MAX International
(603) 431-1111
Listed By:
Andy Yau · License #074320
(603) 431-1111
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 7 at 12:06PM
MLS# 5103300
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 1881 wood-frame triplex includes 3,360 square feet across two buildings on a 0.3-acre corner lot. The primary structure contains two units totaling 2,544 square feet, while the 816-square-foot carriage house provides the third residence. Unit layouts include a multi-room lower-level apartment, a three-level townhouse-style unit, and a carriage-house residence with an open loft bedroom. Interior details include hardwood flooring, wood trim, crown molding, tray ceilings, and a front porch. The property also features a new shingle roof, blue vinyl siding, new windows, fenced outdoor space, dedicated carriage-house parking, off-street parking, and separate utilities.
Located at 2 Pleasant Street in Rochester, the property is near downtown amenities, Spaulding High, restaurants, convenience stores, and major routes. Hanson Pines walking trails and the Cocheco River are also minutes away. Public water serves the property, with natural-gas hot-water baseboard heating.
Located at 2 Pleasant Street in Rochester, the property is near downtown amenities, Spaulding High, restaurants, convenience stores, and major routes. Hanson Pines walking trails and the Cocheco River are also minutes away. Public water serves the property, with natural-gas hot-water baseboard heating.
Key Highlights
- Three‑unit configuration across two buildings: 2,544 SF main duplex and 816 SF carriage house
- 0.3‑acre corner lot at 2 Pleasant Street, Rochester, NH 03867
- 1881 wood‑frame construction with new shingle roof, blue vinyl siding, and new windows
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
$34,109
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
6.20%
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%
$682,180
$682.2K
Cap Rate 7%
$487,271
$487.3K
Cap Rate 9%
$378,989
$379.0K
Market Conditions
NOI Build-Up for 3,360 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
$50.4K $15.00/SF
− Vacancy
−$1.7K −$0.50/SF
EGI
$48.7K $14.50/SF
− OpEx
−$14.6K −$4.35/SF
NOI
$34.1K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /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%
$682,180
Cap Rate 7%
$487,271
Cap Rate 9%
$378,989
Alternative Uses
Best Use
Multifamily LT 5
$487.3K
$426.4K – $568.5K
NOI $34,109 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$449.4K
$393.2K – $524.3K
NOI $31,458 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$898.9K
$786.5K – $1.05M
NOI $62,923 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 03867, NH
22,369
Population
10,458
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
28.4 sq mi
ZIP Area
788
Density / Sq Mi
$74,397
Median Household Income
$42,613
Median Earnings
$1,217
Median Rent
$259,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit income property with two buildings, updated exterior components, off-street parking, and separate utilities.
Where is this triplex located?
The property is located at 2 Pleasant Street Rochester, NH.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Three‑unit configuration across two buildings: 2,544 SF main duplex and 816 SF carriage house; 0.3‑acre corner lot at 2 Pleasant Street, Rochester, NH 03867; 1881 wood‑frame construction with new shingle roof, blue vinyl siding, and new windows
