Victorian Triplex with Detached Garage and
For Sale
$1,175,000
221 Atlantic Avenue, North Hampton, NH 03862
MULTI_FAMILY - Victorian - North Hampton, NH
Property Size4,649 SF
Lot Size0.87 Acres
Price / SF$252.74
Days on Market94
Property Features for 221 Atlantic Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Rooms
Basement
Parking features
Garage, Driveway, Off Street
Patio and Porch features
Porch, Deck
Exterior features
Barn, Deck, Porch
Appliances
Electric Water Heater, Tank Water Heater
Lot features
Near Country Club, Near Golf Course, Near Paths, Near Shopping, Near School(s)
Elementary school district
North Hampton
Middle school district
North Hampton
High school district
North Hampton
Directions
GPS friendly location.
Standard status
Active
Size
4,649 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10819
Utilities
Utilities
Cable Available
Heating system
Steam, Oil, Electric (Heating)
Water source
Public
Amenities
intricate woodwork
stained glass windows
tin ceilings
bow and bay windows
private office space
storage stalls
Building Details
Year built
1896
Floors in Building
3
Number of units
3
Flooring type
Carpet, Hardwood, Tile, Laminate
Building materials
Clapboard Exterior, Combination Exterior
Roof type
Slate, Shingle
Architectural style
Victorian
Listing Agency:
Duston Leddy Real Estate
(603) 610-8285
Listed By:
Kirstin Stallkamp
(603) 661-8127
Added: May 6
Changed: Aug 4
Last Checked: Aug 7 at 2:06PM
MLS# 5087322
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 Victorian triplex is situated on a 0.87-acre lot and includes a total of 4,649 square feet. Built in 1896, the property features clapboard exterior construction and a slate and shingle roof. Interior finishes include hardwood, tile, laminate, and carpet, and the home is heated with steam, oil, and electric systems. Public water is available, and cable is available as well.
Additional improvements include a large detached 3-car garage with a full second story that can be converted or used for storage. There is also an additional 2-car garage with a private office space. Outside, the property includes a post-and-beam barn measuring 40' x 60', currently outfitted with storage stalls. The exterior amenities include a deck and porch.
With its mix of residential units and extensive accessory structures, the layout offers space to support day-to-day operations while providing options for additional utilization of underutilized areas.
Additional improvements include a large detached 3-car garage with a full second story that can be converted or used for storage. There is also an additional 2-car garage with a private office space. Outside, the property includes a post-and-beam barn measuring 40' x 60', currently outfitted with storage stalls. The exterior amenities include a deck and porch.
With its mix of residential units and extensive accessory structures, the layout offers space to support day-to-day operations while providing options for additional utilization of underutilized areas.
Key Highlights
- 0.87‑acre lot with 4,649 SF Victorian triplex
- R2 zoning
- Built in 1896 with slate and shingle roof
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
$78,318
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
6.67%
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%
$1,566,360
$1.6M
Cap Rate 7%
$1,118,829
$1.1M
Cap Rate 9%
$870,200
$870.2K
Market Conditions
NOI Build-Up for 4,649 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
$117.2K $25.20/SF
− Vacancy
−$5.3K −$1.13/SF
EGI
$111.9K $24.07/SF
− OpEx
−$33.6K −$7.22/SF
NOI
$78.3K $16.85/SF
Area
Rockingham County, NH
Vacancy
4.50%
Lease Rate
$25.20 /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%
$1,566,360
Cap Rate 7%
$1,118,829
Cap Rate 9%
$870,200
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$979.0K – $1.31M
NOI $78,318 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$1.01M
$881.8K – $1.18M
NOI $70,547 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,345 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 03862, NH
4,597
Population
2,311
Households
2
Avg Household Size
53
Median Age
52%
College-Educated
95%
High-School Grad
13.9 sq mi
ZIP Area
331
Density / Sq Mi
$136,170
Median Household Income
$73,261
Median Earnings
$1,950
Median Rent
$611,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - R2-zoned Victorian triplex on 0.87 acres with a post-and-beam barn and multiple garages for added storage and workspace.
Where is this triplex located?
The property is located at 221 Atlantic Avenue North Hampton, NH.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 0.87‑acre lot with 4,649 SF Victorian triplex; R2 zoning; Built in 1896 with slate and shingle roof
