Updated Triplex with On-Site
For Sale
$660,000
259 Notre Dame Avenue, Manchester, NH 03102
Three-unit residential property with individual basement laundry hookups, storage space, and a fenced yard.
Property Size3,584 SF
Price / SF$184.15
Days on Market153
Property Features for 259 Notre Dame Avenue
General Information
Standard status
Active
Size
3,584 SF
Total Parking Spaces
6
Property subtype
Multi Family
Zoning
residential
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,605
Amenities
fenced yard
laundry hookups
storage
Curbside, Municipal
Natural Gas, Unvented Gas Heater
Yes
3
Interior
Bulkhead, Concrete Floor, Unfinished
Asphalt Shingle
Wood Frame
Building Details
Year Built
1890
Listing Agency:
RE/MAX Innovative Properties
(603) 255-5224
Listed By:
Rich Racine · License #72506
(603) 255-5224
Source:
Compass
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 3:12PM
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 RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
This 1890 triplex contains 3,584 square feet with 8 bedrooms and 3 baths across three units. All three units have been updated, and one is currently vacant. The building includes gas heating, a newer roof, individual laundry hookups in the basement, and unfinished basement storage with a concrete floor and bulkhead access.
The property sits on Notre Dame Avenue in Manchester, near Catholic Medical Center and with highway access. Exterior features include wood-frame construction and asphalt-shingle roofing. On-site improvements include a fenced yard and parking for six cars, providing practical support for the three-unit configuration.
The property sits on Notre Dame Avenue in Manchester, near Catholic Medical Center and with highway access. Exterior features include wood-frame construction and asphalt-shingle roofing. On-site improvements include a fenced yard and parking for six cars, providing practical support for the three-unit configuration.
Key Highlights
- 3,584‑square‑foot triplex with 8 bedrooms and 3 baths
- Three residential units; one unit is vacant
- All 3 units have been updated
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
$48,365
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
7.33%
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%
$967,300
$967.3K
Cap Rate 7%
$690,929
$690.9K
Cap Rate 9%
$537,389
$537.4K
Market Conditions
NOI Build-Up for 3,584 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
$73.1K $20.40/SF
− Vacancy
−$4.0K −$1.12/SF
EGI
$69.1K $19.28/SF
− OpEx
−$20.7K −$5.78/SF
NOI
$48.4K $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 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%
$967,300
Cap Rate 7%
$690,929
Cap Rate 9%
$537,389
Alternative Uses
Best Use
Multifamily LT 5
$690.9K
$604.6K – $806.1K
NOI $48,365 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$643.4K
$563.0K – $750.6K
NOI $45,038 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$880.1K
$770.1K – $1.03M
NOI $61,609 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,738
Businesses Nearby
Explore this area
Business Placement
Demographics for 03102, NH
33,396
Population
15,264
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
9.1 sq mi
ZIP Area
3,670
Density / Sq Mi
$69,927
Median Household Income
$43,518
Median Earnings
$1,533
Median Rent
$309,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with individual basement laundry hookups, storage space, and a fenced yard.
Where is this triplex located?
The property is located at 259 Notre Dame Avenue Manchester, NH.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 3,584‑square‑foot triplex with 8 bedrooms and 3 baths; Three residential units; one unit is vacant; All 3 units have been updated
