Duplex with Outdoor Living
For Sale
$749,000
25 Mill Street, Epping, NH 03042
Two separate residences offer kitchens, bedrooms, laundry, and distinct outdoor areas.
Property Size2,414 SF
Days on Market68
Property Features for 25 Mill Street
General Information
Standard status
Active
Size
2,414 SF
Property subtype
Multi Family Home
Zoning
HDR
Units
Unit Mix
3BR/1.5BA, 3BR/0.75BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,157
Building Details
Building Size
2,414 SF
Year Built
1925
Stories
2
Units
2
Listing Agency:
The Aland Realty Group
(603) 501-0463
Listed By:
Heather Stasiak
Source:
Ossipeelakere
Added: Jun 24
Changed: Aug 29
Last Checked: Aug 24 at 6:07AM
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 The Aland Realty Group
Investment Insights
Based on property information with market context.
Built in 1925, this 2,414-square-foot duplex contains two separate residences, each with three bedrooms and its own kitchen and laundry. Side A was constructed from the foundation up and includes 1.5 bathrooms, solid maple cabinetry, granite countertops, an island, a dining area, first-floor laundry, a full basement, a farmer’s porch, patio, and side deck. Salvaged vertical beams add character to the interior.
Side B features an open kitchen with KraftMaid cabinets and granite counters, an open dining room, a large living room, and an enclosed porch. The first floor includes a full bathroom with laundry, while the upper level has three bedrooms and a 3/4 bathroom with a dormer. This residence also offers a gazebo, deck, and basement access from outside. Drainage and stone work have been completed at the side B basement.
Side B features an open kitchen with KraftMaid cabinets and granite counters, an open dining room, a large living room, and an enclosed porch. The first floor includes a full bathroom with laundry, while the upper level has three bedrooms and a 3/4 bathroom with a dormer. This residence also offers a gazebo, deck, and basement access from outside. Drainage and stone work have been completed at the side B basement.
Key Highlights
- 2,414‑square‑foot duplex built in 1925
- Two separate residences, each with 3 bedrooms
- Side A built from the foundation up with 1.5 bathrooms and a full basement
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
$40,667
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
5.43%
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%
$813,340
$813.3K
Cap Rate 7%
$580,957
$581.0K
Cap Rate 9%
$451,856
$451.9K
Market Conditions
NOI Build-Up for 2,414 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
$60.8K $25.20/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$58.1K $24.07/SF
− OpEx
−$17.4K −$7.22/SF
NOI
$40.7K $16.85/SF
Area
Rockingham County, NH
Vacancy
4.50%
Lease Rate
$25.20 /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%
$813,340
Cap Rate 7%
$580,957
Cap Rate 9%
$451,856
Alternative Uses
Best Use
Multifamily LT 5
$581.0K
$508.3K – $677.8K
NOI $40,667 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$523.3K
$457.9K – $610.5K
NOI $36,632 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$803.7K
$703.2K – $937.6K
NOI $56,258 @ 7.0% cap · market cap 7.51%
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
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 03042, NH
7,146
Population
3,170
Households
2.3
Avg Household Size
42
Median Age
34%
College-Educated
95%
High-School Grad
26.0 sq mi
ZIP Area
275
Density / Sq Mi
$101,354
Median Household Income
$58,115
Median Earnings
$2,019
Median Rent
$421,400
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 separate residences offer kitchens, bedrooms, laundry, and distinct outdoor areas.
Where is this duplex located?
The property is located at 25 Mill Street Epping, NH.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,414‑square‑foot duplex built in 1925; Two separate residences, each with 3 bedrooms; Side A built from the foundation up with 1.5 bathrooms and a full basement
