Renovated Duplex with Separate
For Sale
Under Contract
$749,000
25 Mill Street, Epping, NH 03042
Multi-Family, Epping, NH
Property Size2,414 SF
Lot Size0.20 Acres
Price / SF$310.27
Days on Market85
Property Features for 25 Mill Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HDR
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2, Basement, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
Patio and Porch features
Porch, Patio
Exterior features
Patio, Porch, Covered Porch
Lot features
Level, Sloping
Directions
GPS friendly
Standard status
Active Under Contract
Size
2,414 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6157
Utilities
Utilities
Cable Available
Heating system
Oil, Hot Water(Heating), Propane (Heating)
Water source
Public
Amenities
farmer's porch
patio
deck
gazebo
enclosed porch
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Laminate, Hardwood, Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
The Aland Realty Group
(603) 501-0463
Listed By:
Heather Stasiak
(207) 251-4762
Added: Jun 9
Changed: Aug 21
Last Checked: Sep 1 at 8:06AM
MLS# 5093673
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 Colonial duplex contains 2,414 square feet across two separate residences on a 0.2-acre parcel. Each side offers three bedrooms, while the interiors include kitchens, dining areas, living spaces, laundry, and basement storage. The newer residence was constructed from the foundation up, incorporating salvaged structural beams, maple cabinetry, granite countertops, an island, a first-floor half bath, and interior basement access. The second residence retains original character with an open kitchen, enclosed porch, hardwood details, and a basement with exterior entry.
Built in 1925, the wood-frame property has vinyl siding, a shingle roof, public water, and cable availability. Outdoor features include porches, a patio, deck areas, and a gazebo. Located in Epping, New Hampshire, the property is identified under HDR zoning and may accommodate an owner-occupant arrangement, multi-generational living, or leasing of both units as supported by the existing duplex configuration.
Built in 1925, the wood-frame property has vinyl siding, a shingle roof, public water, and cable availability. Outdoor features include porches, a patio, deck areas, and a gazebo. Located in Epping, New Hampshire, the property is identified under HDR zoning and may accommodate an owner-occupant arrangement, multi-generational living, or leasing of both units as supported by the existing duplex configuration.
Key Highlights
- Two separate residences, each with 3 bedrooms
- 2,414 square feet on a 0.2‑acre lot
- One residence built new from the foundation up
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 distinct three-bedroom residences offer flexible rental or owner-occupant use in an updated Colonial property.
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: Two separate residences, each with 3 bedrooms; 2,414 square feet on a 0.2‑acre lot; One residence built new from the foundation up
