Four-Unit Property with
New
For Sale
$689,900
216 N Main Street, Rochester, NH 03867
Multi-Family, Rochester, NH
Property Size4,292 SF
Lot Size0.21 Acres
Price / SF$160.74
Days on Market6
Property Features for 216 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Rooms
Basement
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Covered Porch
Lot features
Corner
Middle school
Rochester Middle School
High school
Spaulding High School
Elementary school district
Rochester School District
Middle school district
Rochester School District
High school district
Rochester School District
Directions
corner of N Main St and High St
Standard status
Active
Size
4,292 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9370
Utilities
Utilities
Cable Available
Heating system
Propane (Heating), Oil
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
4
Flooring type
Carpet, Hardwood, Combination
Building materials
Asbestos Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
NOBO Real Estate
(603) 303-4216
Listed By:
Jennifer Jutras
(603) 303-4216
Added: Aug 15
Changed: Aug 20
Last Checked: Aug 20 at 5:06PM
MLS# 5105176
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 four-unit property combines a standalone three-bedroom home with a separate three-unit building on a 0.21-acre lot. The 4,292-square-foot property dates to 1900 and includes replacement windows, newer heating systems, separate utilities, hardwood and carpet flooring, a basement, and a walk-up attic for storage. The home includes a sun porch, kitchen, dining room, living room with fireplace, three bedrooms, a full bathroom, and a walk-in closet. The additional building has separate entrances for each apartment, with one two-bedroom, 1.5-bath unit and two one-bedroom, one-bath units featuring porches. Those three apartments are fully rented with leases. The property is zoned R1 and includes driveway parking, public water, shingle roofing, and cable availability. Located at 216 N Main Street in Rochester, New Hampshire.
Key Highlights
- Four units across a standalone 3‑bedroom home and a 3‑unit building
- 4,292 square feet on 0.21 acres at 216 N Main Street
- Three apartments are fully rented with leases
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
$40,184
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
5.82%
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%
$803,680
$803.7K
Cap Rate 7%
$574,057
$574.1K
Cap Rate 9%
$446,489
$446.5K
Market Conditions
NOI Build-Up for 4,292 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
$75.7K $17.64/SF
− Vacancy
−$2.6K −$0.62/SF
EGI
$73.1K $17.02/SF
− OpEx
−$32.9K −$7.66/SF
NOI
$40.2K $9.36/SF
Area
Strafford County, NH
Vacancy
3.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$803,680
Cap Rate 7%
$574,057
Cap Rate 9%
$446,489
Alternative Uses
Best Use
Apartment 5plus
$574.1K
$502.3K – $669.7K
NOI $40,184 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,377 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
491
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?
Multifamily property - Two-building residential property with separate utilities, hardwood flooring, covered porch space, and a walk-up attic.
Where is this multifamily property located?
The property is located at 216 N Main Street Rochester, NH.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Four units across a standalone 3‑bedroom home and a 3‑unit building; 4,292 square feet on 0.21 acres at 216 N Main Street; Three apartments are fully rented with leases
