Three-Unit Residential Income
217 Spruce Street Manchester, NH 03103
217 Spruce Street, Manchester, NH, 03103
$690,000
For Sale
$690,000
MULTI_FAMILY - Other - Manchester, NH
Property Size4,136 SF
Lot Size0.08 Acres
Price / SF$166.83
Days on Market46
Property Features for 217 Spruce Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-3
- Bedrooms
- 9
- Bathrooms
- 3
- Rooms
- Bedroom 9, Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 8, Basement, Bedroom 3, Bedroom 7, Bathroom 1
- Parking features
- Assigned, Off Street
- Appliances
- Natural Gas Water Heater, Owned Water Heater
- Standard status
- Active
- Size
- 4,136 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7731
Utilities
- Utilities
- Cable Available
- Heating system
- Hot Water(Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Carpet, Vinyl, Laminate, Hardwood
- Building materials
- Wood Frame, Vinyl Siding
- Roof type
- Tar/Gravel
- Architectural style
- Other
Listing agency
RE/MAX Synergy
(603) 472-3900
Listed by
Majlinda Shishko · License #76562
(603) 647-8000
Added: Jun 6 Updated: Jul 21 at 12:16PM Checked: Jul 21 at 7:06PM
MLS# 5093171
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 three-unit residential income property offers a practical, self-contained setup designed for both investor and owner-occupant options. Each unit features three bedrooms and one full bathroom, with spacious rooms and functional layouts. The property also includes separate utilities, which can help simplify day-to-day management and maintenance. Eight off-street parking spaces are available to support residents and visitors.
The property is located at 217 Spruce Street in Manchester, New Hampshire, within R-3 zoning. All units are currently rented, providing an immediate occupied status for the next owner. Nearby everyday needs are described as accessible, including shopping, restaurants, schools, public transportation, and major commuter routes.
For tenants and buyers seeking a steady, turn-key arrangement, this triplex’s fully rented configuration and separate utilities can be appealing. The layout supports an owner who may choose to occupy one unit while continuing to rent the others, or buyers may operate it as a fully leased investment with separate living spaces and dedicated parking.
The property is located at 217 Spruce Street in Manchester, New Hampshire, within R-3 zoning. All units are currently rented, providing an immediate occupied status for the next owner. Nearby everyday needs are described as accessible, including shopping, restaurants, schools, public transportation, and major commuter routes.
For tenants and buyers seeking a steady, turn-key arrangement, this triplex’s fully rented configuration and separate utilities can be appealing. The layout supports an owner who may choose to occupy one unit while continuing to rent the others, or buyers may operate it as a fully leased investment with separate living spaces and dedicated parking.
Key Highlights
- Multifamily property with all units currently rented, supporting immediate rental income for the next owner
- 8 off‑street parking spaces plus assigned parking
- Each unit features 3 bedrooms and 1 full bathroom
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.4k | $20.40 |
| − Vacancy | −$4.6k | −$1.12 |
| EGI | $79.7k | $19.28 |
| − OpEx | −$23.9k | −$5.78 |
| NOI | $55.8k | $13.49 |
4,136 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$797.3K
$697.7K – $930.2K
NOI $55,814 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$742.5K
$649.7K – $866.3K
NOI $51,975 @ 7.0% cap · market cap 7.53%
Theoretical Best
Specialty Retail
$1.02M
$888.7K – $1.18M
NOI $71,098 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Triplex with three bedrooms and one full bath per unit plus eight off-street parking spaces.
Where is this triplex located?
The property is located at 217 Spruce Street Manchester, NH.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Multifamily property with all units currently rented, supporting immediate rental income for the next owner; 8 off‑street parking spaces plus assigned parking; Each unit features 3 bedrooms and 1 full bathroom
