Brand-New Duplex with Attached
For Sale
$579,900
24 Munroe Street #1&2, Franklin, NH 03235
Newly built duplex with two 2-bedroom units, separate utilities, central air, and an attached garage for convenient living.
Property Size1,920 SF
Price / SF$302.03
Days on Market51
Property Features for 24 Munroe Street #1&2
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi Family
Zoning
R3
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Stories
2
Listing Agency:
Gibson Sotheby's International Realty
(978) 578-5013
Listed By:
Tim McGibbon
Source:
Laerrealty
Added: Jul 7
Changed: Aug 24
Last Checked: Aug 25 at 4:44AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This brand-new duplex offers two well-appointed 2-bedroom units designed with bright, open-concept layouts and contemporary finishes. The property includes central air conditioning and gas heat, with public water and sewer service. Each unit is supported by separate utilities, providing practical independence for occupants. Exterior materials include vinyl siding and architectural shingles, contributing to low-maintenance durability. An attached garage is included for added convenience.
Located in Franklin, NH, the home sits on a generously sized lot and is positioned for easy access to the Lakes Region area as well as everyday needs. The surrounding conveniences listed include shopping, restaurants, schools, hospitals, trails, recreation, and commuter routes.
For owner-occupants, the duplex structure allows one unit to be lived in while the other supports offsetting household expenses. For investors and multi-family buyers, the two separate 2-bedroom units, modern construction, and independent utilities are built-in features that simplify tenant management. The open layouts, central air, and gas heat help round out a contemporary residential offering in a recently constructed property.
Located in Franklin, NH, the home sits on a generously sized lot and is positioned for easy access to the Lakes Region area as well as everyday needs. The surrounding conveniences listed include shopping, restaurants, schools, hospitals, trails, recreation, and commuter routes.
For owner-occupants, the duplex structure allows one unit to be lived in while the other supports offsetting household expenses. For investors and multi-family buyers, the two separate 2-bedroom units, modern construction, and independent utilities are built-in features that simplify tenant management. The open layouts, central air, and gas heat help round out a contemporary residential offering in a recently constructed property.
Key Highlights
- Brand‑new duplex built in 2026, featuring two 2‑bedroom units.
- Each unit offers separate utilities for independent living and management.
- Central air conditioning and gas heat included.
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
$27,579
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
4.76%
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%
$551,580
$551.6K
Cap Rate 7%
$393,986
$394.0K
Cap Rate 9%
$306,433
$306.4K
Market Conditions
NOI Build-Up for 1,920 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
$41.5K $21.60/SF
− Vacancy
−$2.1K −$1.08/SF
EGI
$39.4K $20.52/SF
− OpEx
−$11.8K −$6.16/SF
NOI
$27.6K $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%
$551,580
Cap Rate 7%
$393,986
Cap Rate 9%
$306,433
Alternative Uses
Best Use
Multifamily LT 5
$394.0K
$344.7K – $459.7K
NOI $27,579 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$363.1K
$317.7K – $423.6K
NOI $25,414 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$499.9K
$437.4K – $583.3K
NOI $34,995 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 03235, NH
8,856
Population
4,021
Households
2.2
Avg Household Size
44
Median Age
19%
College-Educated
91%
High-School Grad
29.8 sq mi
ZIP Area
297
Density / Sq Mi
$69,921
Median Household Income
$41,333
Median Earnings
$1,088
Median Rent
$244,800
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 - Newly built duplex with two 2-bedroom units, separate utilities, central air, and an attached garage for convenient living.
Where is this duplex located?
The property is located at 24 Munroe Street #1&2 Franklin, NH.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Brand‑new duplex built in 2026, featuring two 2‑bedroom units.; Each unit offers separate utilities for independent living and management.; Central air conditioning and gas heat included.
