Listing Agency: Senne Residential LLC j***@sennere.com Show Phone

Listed By: Susan D Wiley Show Phone

Source: Exprealty

Added: Aug 31 Changed: Oct 7 Last Checked: Oct 24 at 5:38PM

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Investment Insights

Based on property information with market context.

This duplex offers a five-bedroom, four-bathroom configuration across two separate units. The upper residence includes 2 bedrooms and 1 full bath, while the lower residence provides 3 bedrooms and 3 full baths. Recent work includes a new oil furnace installed in 2024, chimney reconstruction and relining, an improved upper terrace deck, and a rebuilt rear patio staircase. The garage sills were rebuilt with new French drains, and driveway grading was updated.

The lower unit has undergone a full renovation with a refreshed kitchen, new appliances, tiled entry, and a new front door. Additional improvements include fresh paint downstairs plus a new refrigerator and range upstairs. The property is located at 2338 Eaton Rd in Madison, near the Eaton Village Store and Maggie's Diner, with a brook behind the home and trail access near Old County Road. Conway is 5 miles away, while Crystal Lake access is available to Eaton residents.

Key Highlights

• Duplex with 5 bedrooms and 4 full bathrooms total
• Upper unit includes 2 bedrooms and 1 full bath
• Lower unit offers 3 bedrooms and 3 full baths

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,476

Cap Rate

6.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$629,520 $629.5K

Cap Rate 7%

$449,657 $449.7K

Cap Rate 9%

$349,733 $349.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,706 SF

Gross rent

$47.1K $17.40/SF

− Vacancy

−$2.1K −$0.78/SF

EGI

$45.0K $16.62/SF

− OpEx

−$13.5K −$4.99/SF

NOI

$31.5K $11.63/SF

Area

Carroll County, NH

Vacancy

4.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$629,520

Cap Rate 7%

$449,657

Cap Rate 9%

$349,733

Alternative Uses

Best Use

Multifamily LT 5

$449.7K

$393.5K – $524.6K (±1% cap)

NOI $31,476 @ 7.0% cap · market cap 6.30%

Second Best

Apartment 5plus

$397.8K

$348.1K – $464.1K (±1% cap)

NOI $27,848 @ 7.0% cap · market cap 5.57%

Theoretical Best

Office A

$675.7K

$591.2K – $788.3K (±1% cap)

NOI $47,297 @ 7.0% cap · market cap 9.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

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Demographics for 03849, NH

1,446

Population

1,119

Households

1.3

Avg Household Size

52

Median Age

26%

College-Educated

95%

High-School Grad

22.3 sq mi

ZIP Area

65

Density / Sq Mi

$96,875

Median Household Income

$41,898

Median Earnings

$1,333

Median Rent

$359,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with recent mechanical, exterior, and interior improvements near local dining, shopping, and outdoor recreation.

Where is this duplex located?

The property is located at 2338 Eaton Rd Madison, NH.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Duplex with 5 bedrooms and 4 full bathrooms total; Upper unit includes 2 bedrooms and 1 full bath; Lower unit offers 3 bedrooms and 3 full baths