Building Details

Year Built 1920

Buildings 1

Listing Agency: Coldwell Banker Classic Realty

Listed By: Michelle Gannon Show Phone

Source: Fhghomesnh

Added: Sep 1 Changed: Oct 15 Last Checked: Oct 7 at 2:11PM

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Investment Insights

Based on property information with market context.

Built in 1920, this two-family duplex combines period character with updated interior features. The first apartment has two bedrooms, while the upper residence occupies the second and third floors with four bedrooms and two baths. Both units include separate utilities and dedicated laundry areas. A full walkout basement provides storage or workshop space, and the property includes a detached two-car garage, paved driveway, landscaped corner lot, and private backyard.

The property is located at 2484 Elm St in Manchester’s North End, minutes from downtown Manchester, Elliot Hospital, Catholic Medical Center, major highways, shopping, restaurants, and neighborhood parks. Its multi-level configuration and separate utility setup provide a clearly defined arrangement for two households.

Key Highlights

• Two‑family duplex with 2 bedrooms in one unit and 4 bedrooms plus 2 baths in the other
• Separate utilities and laundry areas for both apartments
• Full walkout basement with storage or workshop space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,829

Cap Rate

5.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$896,580 $896.6K

Cap Rate 7%

$640,414 $640.4K

Cap Rate 9%

$498,100 $498.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,322 SF

Gross rent

$67.8K $20.40/SF

− Vacancy

−$3.7K −$1.12/SF

EGI

$64.0K $19.28/SF

− OpEx

−$19.2K −$5.78/SF

NOI

$44.8K $13.49/SF

Area

Manchester, NH

Vacancy

5.50%

Lease Rate

$20.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$896,580

Cap Rate 7%

$640,414

Cap Rate 9%

$498,100

Alternative Uses

Best Use

Multifamily LT 5

$640.4K

$560.4K – $747.2K (±1% cap)

NOI $44,829 @ 7.0% cap · market cap 5.82%

Second Best

Apartment 5plus

$596.4K

$521.8K – $695.8K (±1% cap)

NOI $41,746 @ 7.0% cap · market cap 5.42%

Theoretical Best

Specialty Retail

$815.8K

$713.8K – $951.8K (±1% cap)

NOI $57,105 @ 7.0% cap · market cap 7.42%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Daycare Center Auto Repair Shop Grocery & Convenience Store Nail Salon Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

146

Businesses Nearby

Explore this area Business Placement

Demographics for 03104, NH

34,324

Population

15,715

Households

2.2

Avg Household Size

38

Median Age

43%

College-Educated

94%

High-School Grad

8.3 sq mi

ZIP Area

4,135

Density / Sq Mi

$84,513

Median Household Income

$48,513

Median Earnings

$1,455

Median Rent

$364,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two apartments offer separate utilities, laundry areas, and a full walkout basement for added functionality.

Where is this duplex located?

The property is located at 2484 Elm St Manchester, NH.

What is the asking price?

The asking price for this property is $769,999.

What are key features of this property?

This property features: Two‑family duplex with 2 bedrooms in one unit and 4 bedrooms plus 2 baths in the other; Separate utilities and laundry areas for both apartments; Full walkout basement with storage or workshop space