Two-Unit Duplex with Covered
For Sale
$499,900
22 Ferry Street, Allenstown, NH 03275
Two separate residences offer updated kitchens, private outdoor space, and a mix of two- and three-bedroom layouts.
Property Size2,383 SF
Price / SF$209.78
Days on Market161
Property Features for 22 Ferry Street
General Information
Standard status
Active
Size
2,383 SF
Property subtype
Multi Family
Zoning
R1-R
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,021
Amenities
private covered deck
Private
Natural Gas Available, Oil, Baseboard, Boiler
Yes
Carpet, Vinyl, Wood
Electric Water Heater
2
Walkout
Exterior Access, Sump Pump, Unfinished, Walkout
Architectural Shingle
Vinyl Siding
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Realty/Merrimack Valley
(508) 523-2934
Listed By:
Julie Aucoin
(508) 523-2934
Source:
Compass
Added: Mar 23
Changed: Aug 30
Last Checked: Aug 30 at 11:16AM
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 Keller Williams Realty/Merrimack Valley
Investment Insights
Based on property information with market context.
Located at 22 Ferry Street in Allenstown, this 2,383-square-foot duplex dates to 1900 and contains two residences. The first unit has two bedrooms, hardwood flooring in its living and dining rooms, updated cabinetry, and recessed lighting. The second includes three bedrooms, generous closet space, recessed lighting, and an updated kitchen with substantial storage. Hardwood flooring is present beneath carpeted areas, and each unit has its own covered deck.
The property sits on more than a quarter acre and is zoned R1-R. Route 93 is nearby, while the Hooksett Riverwalk Trail, a public boat launch on the Merrimack River, and downtown are within minutes. Southern New Hampshire University is approximately 15 minutes away. Natural gas is available, and the building has oil-fired baseboard and boiler heating, an electric water heater, vinyl siding, and an architectural shingle roof.
The property sits on more than a quarter acre and is zoned R1-R. Route 93 is nearby, while the Hooksett Riverwalk Trail, a public boat launch on the Merrimack River, and downtown are within minutes. Southern New Hampshire University is approximately 15 minutes away. Natural gas is available, and the building has oil-fired baseboard and boiler heating, an electric water heater, vinyl siding, and an architectural shingle roof.
Key Highlights
- Two‑unit duplex with 2,383 SF of building area
- Unit A: 2 bedrooms with hardwood floors, updated cabinets, and recessed lighting
- Unit B: 3 bedrooms, spacious closets, updated kitchen, and ample storage
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
$34,229
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
6.85%
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%
$684,580
$684.6K
Cap Rate 7%
$488,986
$489.0K
Cap Rate 9%
$380,322
$380.3K
Market Conditions
NOI Build-Up for 2,383 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
$51.5K $21.60/SF
− Vacancy
−$2.6K −$1.08/SF
EGI
$48.9K $20.52/SF
− OpEx
−$14.7K −$6.16/SF
NOI
$34.2K $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 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%
$684,580
Cap Rate 7%
$488,986
Cap Rate 9%
$380,322
Alternative Uses
Best Use
Multifamily LT 5
$489.0K
$427.9K – $570.5K
NOI $34,229 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$450.6K
$394.3K – $525.7K
NOI $31,542 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$620.5K
$542.9K – $723.9K
NOI $43,434 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 03275, NH
11,946
Population
4,739
Households
2.5
Avg Household Size
42
Median Age
25%
College-Educated
91%
High-School Grad
43.0 sq mi
ZIP Area
278
Density / Sq Mi
$84,776
Median Household Income
$43,850
Median Earnings
$1,258
Median Rent
$309,400
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?
Duplex - Two separate residences offer updated kitchens, private outdoor space, and a mix of two- and three-bedroom layouts.
Where is this duplex located?
The property is located at 22 Ferry Street Allenstown, NH.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,383 SF of building area; Unit A: 2 bedrooms with hardwood floors, updated cabinets, and recessed lighting; Unit B: 3 bedrooms, spacious closets, updated kitchen, and ample storage
