Building Details

Year Built 1880

Listing Agency: Roche Realty Group

Listed By: Richard Hagan Show Phone

Source: Seevermonthomesforsale

Added: Sep 9 Changed: Oct 27 Last Checked: Oct 28 at 8:31AM

Report an Issue

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 Roche Realty Group

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Built in 1880, this duplex occupies a 0.781-acre lot and includes two distinct residential units. The 1,400-square-foot first-floor residence provides one-level living with one bedroom and one bathroom, hardwood and laminate flooring, tin ceilings, a propane fireplace, oil-fired hot-water heat, and access to a covered deck. The 1,438-square-foot upper apartment has two bedrooms, a kitchen, living room, den, and bonus room, with original hardwood beneath carpeting and propane Monitor heat.

Located at 20 Lawrence St in Andover, the property is two blocks from Proctor Academy. Public water and a private sewer serve the property. A detached two-story barn adds garage parking and storage, while the existing configuration also supports the potential conversion to a single-family residence.

Key Highlights

• 0.781‑acre lot with a two‑unit residential layout
• 1,400‑square‑foot first‑floor unit with 1 bedroom and 1 bathroom
• 1,438‑square‑foot upper apartment with 2 bedrooms, den, and bonus room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,392

Cap Rate

7.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$807,840 $807.8K

Cap Rate 7%

$577,029 $577.0K

Cap Rate 9%

$448,800 $448.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,812 SF

Gross rent

$60.7K $21.60/SF

− Vacancy

−$3.0K −$1.08/SF

EGI

$57.7K $20.52/SF

− OpEx

−$17.3K −$6.16/SF

NOI

$40.4K $14.36/SF

Area

Merrimack County, NH

Vacancy

5.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$807,840

Cap Rate 7%

$577,029

Cap Rate 9%

$448,800

Alternative Uses

Best Use

Multifamily LT 5

$577.0K

$504.9K – $673.2K (±1% cap)

NOI $40,392 @ 7.0% cap · market cap 7.78%

Second Best

Apartment 5plus

$531.7K

$465.3K – $620.3K (±1% cap)

NOI $37,220 @ 7.0% cap · market cap 7.17%

Theoretical Best

Office A

$732.2K

$640.7K – $854.2K (±1% cap)

NOI $51,253 @ 7.0% cap · market cap 9.88%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

57

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with separate entrances, covered outdoor space, and substantial storage improvements.

Where is this duplex located?

The property is located at 20 Lawrence St Andover, NH.

What is the asking price?

The asking price for this property is $519,000.

What are key features of this property?

This property features: 0.781‑acre lot with a two‑unit residential layout; 1,400‑square‑foot first‑floor unit with 1 bedroom and 1 bathroom; 1,438‑square‑foot upper apartment with 2 bedrooms, den, and bonus room