Three-Unit Multifamily
New
For Sale
$624,900
201 Auburn Street, Manchester, NH 03103
Multi-Family, Manchester, NH
Property Size3,300 SF
Lot Size0.06 Acres
Price / SF$189.36
Days on Market2
Property Features for 201 Auburn Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
DT-1
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 6, Bedroom 7, Basement, Bedroom 8, Bedroom 9, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3
Parking features
On Street, Garage
Patio and Porch features
Patio
Exterior features
Partial Fence, Natural Shade, Patio, Storage
Fencing
Partial
Lot features
City Lot, Level, Sidewalks, Street Lights, Trail/ Near Trail, Near Country Club, Near Golf Course, Near Paths, Near Shopping, Near Skiing, Near Public Transport, Near Railroad, Near Hospital, Near School(s)
Elementary school
Beech Street School
Middle school
McLaughlin Middle School
High school
Manchester Central High Sch
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Directions
GPS is accurate.
Standard status
Active
Size
3,300 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7317
Utilities
Heating system
Natural Gas, Forced Air, Electric (Heating)
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Realty One Group Next Level
(603) 262-3500
Listed By:
Steve Petz
(603) 389-6604
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 10 at 7:06PM
MLS# 5108996
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.
Located at 201 Auburn Street, this 1900-built multifamily property contains three 3-bedroom, 1-bath apartments with approximately 3,300 square feet of finished above-grade living area. The units use separate electric meters, individual water heaters, and dedicated heating systems. First- and second-floor apartments include in-unit laundry, while the full unfinished basement provides utility and storage space.
A detached garage or outbuilding at the rear adds enclosed space and is separately rented. The structure includes an open interior and a plumbed drain, with any future bathroom installation subject to due diligence and required approvals. The property sits on 0.06 acres in Manchester, near downtown, shopping, restaurants, public transportation, schools, hospitals, and major commuting routes. Zoning is DT-1.
A detached garage or outbuilding at the rear adds enclosed space and is separately rented. The structure includes an open interior and a plumbed drain, with any future bathroom installation subject to due diligence and required approvals. The property sits on 0.06 acres in Manchester, near downtown, shopping, restaurants, public transportation, schools, hospitals, and major commuting routes. Zoning is DT-1.
Key Highlights
- Three 3‑bedroom, 1‑bath apartments
- Approximately 3,300 square feet of finished above‑grade living area
- All three residential units are occupied
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
$44,532
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
7.13%
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%
$890,640
$890.6K
Cap Rate 7%
$636,171
$636.2K
Cap Rate 9%
$494,800
$494.8K
Market Conditions
NOI Build-Up for 3,300 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
$67.3K $20.40/SF
− Vacancy
−$3.7K −$1.12/SF
EGI
$63.6K $19.28/SF
− OpEx
−$19.1K −$5.78/SF
NOI
$44.5K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /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%
$890,640
Cap Rate 7%
$636,171
Cap Rate 9%
$494,800
Alternative Uses
Best Use
Multifamily LT 5
$636.2K
$556.7K – $742.2K
NOI $44,532 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$592.4K
$518.4K – $691.2K
NOI $41,469 @ 7.0% cap · market cap 6.64%
Theoretical Best
Specialty Retail
$810.4K
$709.1K – $945.5K
NOI $56,727 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,704
Businesses Nearby
Explore this area
Business Placement
Demographics for 03103, NH
38,039
Population
16,166
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
9.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$70,049
Median Household Income
$41,243
Median Earnings
$1,322
Median Rent
$313,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 occupied apartments include separate utilities, in-unit laundry on two levels, and a detached garage.
Where is this triplex located?
The property is located at 201 Auburn Street Manchester, NH.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Three 3‑bedroom, 1‑bath apartments; Approximately 3,300 square feet of finished above‑grade living area; All three residential units are occupied
