Duplex with In-Law
For Sale
$650,000
227 Joe English Road Unit A, New Boston, NH 03070
Two-family property with an owner’s residence, updated apartment, and wooded outdoor setting.
Property Size3,642 SF
Price / SF$178.47
Days on Market165
Property Features for 227 Joe English Road Unit A
General Information
Standard status
Active
Size
3,642 SF
Property subtype
Multi Family
Zoning
RA
Taxes and HOA fees
Annual Taxes
$10,106
Amenities
Dumpster, Private
Boiler
Yes
Carpet, Hardwood, Tile, Vinyl
Shared Water Heater
2
3
1
Walkout
Apartment(s), Basement Stairs, Concrete, Daylight, Exterior Access, Interior Access, Interior Stairs, Slab, Storage Space, Walkout
10
Architectural Shingle
Yellow
Wood Frame, Vinyl Siding
Building Details
Year Built
1986
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Erin Dinsmoor
(603) 232-8282
Source:
Compass
Added: Mar 19
Changed: Aug 30
Last Checked: Aug 30 at 6:28AM
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-Metropolitan
Investment Insights
Based on property information with market context.
Built in 1986, this 3,642-square-foot duplex combines a primary residence with an approximately 450-square-foot in-law apartment. The main home includes hardwood flooring, exposed wood beams, a bay window, stainless steel appliances, a dining area, bonus room, office, attic storage, and a primary suite with a jetted tub and walk-in shower. The secondary unit has a private living area, new shower, updated flooring, and an in-unit washer and dryer.
The property encompasses 16 acres along Joe English Road in New Boston, with a private deck, wooded surroundings, seasonal views, and direct outdoor recreation opportunities including hiking and snowshoeing. A new roof was installed in 2025, and newer front-facing windows add to the recent improvements. The property is zoned RA and is located near schools, shopping, dining, and trails.
The property encompasses 16 acres along Joe English Road in New Boston, with a private deck, wooded surroundings, seasonal views, and direct outdoor recreation opportunities including hiking and snowshoeing. A new roof was installed in 2025, and newer front-facing windows add to the recent improvements. The property is zoned RA and is located near schools, shopping, dining, and trails.
Key Highlights
- Duplex with 4 bedrooms and 3.5 baths
- 16‑acre property at 227 Joe English Road, Unit A, New Boston, NH 03070
- Approximately 450 sq. ft. in‑law apartment with updated flooring, new shower, and in‑unit washer and dryer
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
$53,484
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
8.23%
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%
$1,069,680
$1.1M
Cap Rate 7%
$764,057
$764.1K
Cap Rate 9%
$594,267
$594.3K
Market Conditions
NOI Build-Up for 3,642 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
$80.9K $22.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$76.4K $20.98/SF
− OpEx
−$22.9K −$6.29/SF
NOI
$53.5K $14.69/SF
Area
Hillsborough County, NH
Vacancy
5.50%
Lease Rate
$22.20 /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%
$1,069,680
Cap Rate 7%
$764,057
Cap Rate 9%
$594,267
Alternative Uses
Best Use
Multifamily LT 5
$764.1K
$668.6K – $891.4K
NOI $53,484 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$707.9K
$619.4K – $825.9K
NOI $49,553 @ 7.0% cap · market cap 7.62%
Theoretical Best
Specialty Retail
$6.67M
$5.84M – $7.78M
NOI $467,087 @ 7.0% cap · market cap 71.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 03070, NH
6,134
Population
2,189
Households
2.8
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
43.1 sq mi
ZIP Area
142
Density / Sq Mi
$151,296
Median Household Income
$75,339
Median Earnings
$1,140
Median Rent
$436,300
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-family property with an owner’s residence, updated apartment, and wooded outdoor setting.
Where is this duplex located?
The property is located at 227 Joe English Road Unit A New Boston, NH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 3.5 baths; 16‑acre property at 227 Joe English Road, Unit A, New Boston, NH 03070; Approximately 450 sq. ft. in‑law apartment with updated flooring, new shower, and in‑unit washer and dryer
