Duplex with Detached
New
For Sale
$549,900
23-25 Grand Avenue, Nashua, NH 03060
Multi-Family, Nashua, NH
Property Size1,950 SF
Lot Size0.26 Acres
Price / SF$282
Days on Market4
Property Features for 23-25 Grand Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Basement, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Parking features
Garage, Driveway
Lot features
City Lot, Curbing, Landscaped, Level, Sidewalks, Trail/ Near Trail, Walking Trails, Near Paths, Near Shopping, Neighborhood, Near Public Transport, Near Hospital, Near School(s)
Elementary school
Ledge Street Elementary School
Middle school
Fairgrounds Middle School
High school
Nashua High School South
Elementary school district
Nashua School District
Middle school district
Nashua School District
High school district
Nashua School District
Directions
Use GPS.
Standard status
Active
Size
1,950 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8462
Utilities
Utilities
Cable Available
Heating system
Baseboard, Natural Gas, Forced Air, Hot Water(Heating)
Water source
Public
Amenities
greenhouse
gardens
fireplace
detached garage
shared rear deck
enclosed porch
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Flooring type
Carpet, Hardwood, Laminate
Building materials
Wood Frame, Stucco Exterior
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Coldwell Banker Realty Nashua · Coldwell Banker Real Estate
(603) 673-4000
Listed By:
Audrey DeCourcy
(603) 848-9559
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 14 at 8:06AM
MLS# 5109322
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 1,950-square-foot Colonial duplex, built in 1923, contains two independent residences on a 0.26-acre lot. Each unit has its own enclosed front porch, basement entry, driveway, and living areas. Unit 23 includes a kitchen with substantial cabinetry, a peninsula, and a gas range with griddle, along with a dining area, living room fireplace, half bath, two bedrooms, and a full bath with both a shower and jetted tub. Unit 25 offers an open kitchen, dining, and living arrangement with two bedrooms and a full bath.
Exterior features include a detached garage, greenhouse, rear deck, mature landscaping, gardens, hedges, outdoor areas, and ample parking. The property is near Mines Falls Park, schools, and hospitals, with access to Route 3. Public water, cable availability, natural gas heating, and RB zoning are also reported.
Exterior features include a detached garage, greenhouse, rear deck, mature landscaping, gardens, hedges, outdoor areas, and ample parking. The property is near Mines Falls Park, schools, and hospitals, with access to Route 3. Public water, cable availability, natural gas heating, and RB zoning are also reported.
Key Highlights
- Two‑family Colonial duplex with 1,950 square feet, built in 1923
- 0.26‑acre U‑shaped lot at 23‑25 Grand Avenue, Nashua, NH 03060
- Detached garage, greenhouse, rear deck, separate driveways, and ample parking
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
$28,636
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
5.21%
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%
$572,720
$572.7K
Cap Rate 7%
$409,086
$409.1K
Cap Rate 9%
$318,178
$318.2K
Market Conditions
NOI Build-Up for 1,950 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
$43.3K $22.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$40.9K $20.98/SF
− OpEx
−$12.3K −$6.29/SF
NOI
$28.6K $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%
$572,720
Cap Rate 7%
$409,086
Cap Rate 9%
$318,178
Alternative Uses
Best Use
Multifamily LT 5
$409.1K
$358.0K – $477.3K
NOI $28,636 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$379.0K
$331.7K – $442.2K
NOI $26,532 @ 7.0% cap · market cap 4.82%
Theoretical Best
Specialty Retail
$3.57M
$3.13M – $4.17M
NOI $250,088 @ 7.0% cap · market cap 45.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 03060, NH
31,251
Population
13,003
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
88%
High-School Grad
6.6 sq mi
ZIP Area
4,735
Density / Sq Mi
$78,068
Median Household Income
$44,628
Median Earnings
$1,539
Median Rent
$338,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Colonial two-family property with separate driveways, enclosed porches, and independent basement access.
Where is this duplex located?
The property is located at 23-25 Grand Avenue Nashua, NH.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑family Colonial duplex with 1,950 square feet, built in 1923; 0.26‑acre U‑shaped lot at 23‑25 Grand Avenue, Nashua, NH 03060; Detached garage, greenhouse, rear deck, separate driveways, and ample parking
