Renovated Multifamily Property with Expansion
New
For Sale
$1,100,000
2556 East Conway Rd, Conway, NH 03813
Four rented units include a renovated farmhouse and a newer freestanding residence with separate utilities.
Property Size4,872 SF
Lot Size3.00 Acres
Price / SF$225.78
Days on Market6
Property Features for 2556 East Conway Rd
General Information
Standard status
Active
Size
4,872 SF
Lot size
3.00 Acres
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Building Details
Year Built
1870
Buildings
2
Listing Agency:
Badger Peabody & Smith Realty
(603) 986-5551
Listed By:
Kevin J Killourie · License #051534
Source:
Megansellsnh
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 25 at 5:08AM
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 Badger Peabody & Smith Realty
Investment Insights
Based on property information with market context.
This multifamily property includes four occupied units along with storage and garage space. Three units are located within a farmhouse that received a major renovation in 2020, including insulation, new wiring, plumbing, separate high-efficiency wall-mounted boilers, and individual electric meters. A freestanding one-unit cape, constructed in 2019, provides the fourth residence.
The property sits on 3 acres served by town water in East Conway, near Center Conway, New Hampshire. The existing garage offers an option for additional finished space, while the open, level rear portion of the property is identified for potential additional unit construction. The current configuration combines renovated improvements, newer construction, and occupied units within one multifamily asset.
The property sits on 3 acres served by town water in East Conway, near Center Conway, New Hampshire. The existing garage offers an option for additional finished space, while the open, level rear portion of the property is identified for potential additional unit construction. The current configuration combines renovated improvements, newer construction, and occupied units within one multifamily asset.
Key Highlights
- 4 units plus storage and garage space
- 3‑acre property served by town water
- Farmhouse contains 3 units and was renovated in 2020
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
$50,138
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
4.56%
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%
$1,002,760
$1.0M
Cap Rate 7%
$716,257
$716.3K
Cap Rate 9%
$557,089
$557.1K
Market Conditions
NOI Build-Up for 4,872 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
$96.5K $19.80/SF
− Vacancy
−$5.3K −$1.09/SF
EGI
$91.2K $18.71/SF
− OpEx
−$41.0K −$8.42/SF
NOI
$50.1K $10.29/SF
Area
Carroll County, NH
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,002,760
Cap Rate 7%
$716,257
Cap Rate 9%
$557,089
Alternative Uses
Best Use
Apartment 5plus
$716.3K
$626.7K – $835.6K
NOI $50,138 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,156 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 03813, NH
3,681
Population
2,661
Households
1.4
Avg Household Size
52
Median Age
33%
College-Educated
91%
High-School Grad
98.3 sq mi
ZIP Area
37
Density / Sq Mi
$58,299
Median Household Income
$35,625
Median Earnings
$1,363
Median Rent
$215,200
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?
Multifamily property - Four rented units include a renovated farmhouse and a newer freestanding residence with separate utilities.
Where is this multifamily property located?
The property is located at 2556 East Conway Rd Conway, NH.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4 units plus storage and garage space; 3‑acre property served by town water; Farmhouse contains 3 units and was renovated in 2020
