Mountain-View
For Sale
Under Contract
$999,900
20-24 Crest Lane, Madison, NH 03849
Multi-Family, Madison, NH
Property Size5,851 SF
Lot Size5.98 Acres
Price / SF$170.89
Days on Market118
Property Features for 20-24 Crest Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RURAL
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 2, Bathroom 5, Bedroom 2, Bedroom 4, Basement, Bedroom 7, Bedroom 6
Parking features
Garage
Patio and Porch features
Patio, Deck
Exterior features
Deck, Garden Space, Guest House, Hot Tub, Patio
Appliances
Electric Water Heater, Water Heater off Boiler
Lot features
Country Setting, Landscaped, Mountain View, Sloping, Mountain, Rural
Elementary school
Madison Elementary School
Middle school
A. Crosby Kennett Middle Sch
High school
A. Crosby Kennett Sr. High
Elementary school district
SAU #13
Middle school district
SAU #13
High school district
SAU #13
Directions
East Madison Road to Fox Road to Crest Lane on left.
Standard status
Active Under Contract
Size
5,851 SF
Lot size
5.98 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11730
Utilities
Heating system
Wood, Pellet Stove, Ductless (Heating), Hot Water(Heating)
Cooling system
Zoned, Ductless
Water source
Well
Building Details
Year built
1988
Floors in Building
2
Number of units
3
Flooring type
Tile, Hardwood, Carpet
Building materials
Wood Frame, Cedar Exterior
Roof type
Shingle
Architectural style
Contemporary
Additional Structures
Guest House
Listing Agency:
KW Coastal and Lakes & Mountains Realty/N Conway · Keller Williams Realty
(603) 730-5683
Listed By:
Pamela Adami
(603) 610-8500
Added: May 9
Changed: Sep 1
Last Checked: Sep 3 at 7:06AM
MLS# 5095385
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 contemporary Lindal Cedar residence combines 5,851 square feet of finished space with a grandfathered legal three-unit configuration on 5.98 acres. The primary home spans three levels and includes a double-sided stone fireplace, granite kitchen with breakfast bar, first-floor den, wet bar, recreation area, and walkout lower level. The lower level contains two bedrooms, a full bath, kitchen, family room, and separate entrance, allowing it to function independently.
A detached heated garage adds a 1,200-square-foot apartment with two bedrooms and one bath. The apartment has its own entrance, electric meter, septic system, heating system, and hot water system. Across the residence and apartment, the property offers seven bedrooms and five bathrooms, with decks, a patio, garden space, and hot tub. Heating includes hot water, ductless systems, wood, and a pellet stove, while cooling is ductless and zoned. Sunrise views extend toward Foss Mountain.
A detached heated garage adds a 1,200-square-foot apartment with two bedrooms and one bath. The apartment has its own entrance, electric meter, septic system, heating system, and hot water system. Across the residence and apartment, the property offers seven bedrooms and five bathrooms, with decks, a patio, garden space, and hot tub. Heating includes hot water, ductless systems, wood, and a pellet stove, while cooling is ductless and zoned. Sunrise views extend toward Foss Mountain.
Key Highlights
- Grandfathered legal three‑unit status
- 5.98‑acre property with 5,851 square feet
- Detached heated garage includes a 1,200‑square‑foot, two‑bedroom, one‑bath apartment
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
$68,058
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
6.81%
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%
$1,361,160
$1.4M
Cap Rate 7%
$972,257
$972.3K
Cap Rate 9%
$756,200
$756.2K
Market Conditions
NOI Build-Up for 5,851 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
$101.8K $17.40/SF
− Vacancy
−$4.6K −$0.78/SF
EGI
$97.2K $16.62/SF
− OpEx
−$29.2K −$4.99/SF
NOI
$68.1K $11.63/SF
Area
Carroll County, NH
Vacancy
4.50%
Lease Rate
$17.40 /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%
$1,361,160
Cap Rate 7%
$972,257
Cap Rate 9%
$756,200
Alternative Uses
Best Use
Multifamily LT 5
$972.3K
$850.7K – $1.13M
NOI $68,058 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$860.2K
$752.7K – $1.00M
NOI $60,213 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,268 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 03849, NH
1,446
Population
1,119
Households
1.3
Avg Household Size
52
Median Age
26%
College-Educated
95%
High-School Grad
22.3 sq mi
ZIP Area
65
Density / Sq Mi
$96,875
Median Household Income
$41,898
Median Earnings
$1,333
Median Rent
$359,400
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 - Grandfathered legal three-unit status supports flexible multi-generational, guest, and rental configurations.
Where is this triplex located?
The property is located at 20-24 Crest Lane Madison, NH.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Grandfathered legal three‑unit status; 5.98‑acre property with 5,851 square feet; Detached heated garage includes a 1,200‑square‑foot, two‑bedroom, one‑bath apartment
