Completely Renovated Two-Family
For Sale
$479,000
Pending
27 Washington Street, Ashland, NH 03217
Fully renovated two-family home near Lakes Region and White Mountains.
Property Size2,243 SF
Days on Market118
Property Features for 27 Washington Street
General Information
Standard status
Pending
Size
2,243 SF
Property subtype
Residential Income
Zoning
RES 1
Taxes and HOA fees
Annual Taxes
$4,274
Amenities
Propane, Hot Water
Interior Entry, Partial
Tankless Water Heater, Instant Hot Water
Paved, Driveway, Off Street
Colonial, Duplex
Building Details
Building Size
2,243 SF
Year Built
1900
Stories
2
Listing Agency:
Keller Williams Realty Metropolitan
(603) 320-5020
Listed By:
Jennifer Frost
(603) 320-5020
Source:
Evrealestate
Added: May 1
Changed: Aug 23
Last Checked: Jul 30 at 2:52AM
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 Keller Williams Realty Metropolitan
Investment Insights
Based on property information with market context.
This completely renovated two-family home features a 2-bedroom unit on the main floor and a 3-bedroom unit upstairs, offering potential for rental income, a second home, or multi-generational living. Each unit boasts bright, open-plan kitchens with stylish cabinets, soft-close drawers, new stainless steel appliances, and white Napoli granite countertops with a center island. The bathrooms are updated with new fixtures, tile floors, and linen closets, with an upsized bathroom in the second unit. Laundry hookups are conveniently located in each unit. Easy-care neutral luxury vinyl plank flooring extends throughout the home. New doors, hardware, trim, double door closets, and recessed lights add to the appeal. A brand-new porch with Trex decking and an entry paver patio provide a welcoming entrance. The interior has been rebuilt from the studs with new drywall, subfloors, and tilt-in windows. Energy efficiency is enhanced by a new furnace, tankless water heater, and insulation. Pex and PVC plumbing has been installed, along with new electrical wiring and panels. The roof, vinyl siding, and back stairs have all been replaced, and fencing has been added. Located minutes from 93, this property in Ashland is near the Lakes Region and the Mount Washington Valley, with Plymouth State, Speare Hospital, Waterville Valley, and Squam Lake in close proximity. This property presents a great income opportunity, recreational home base, or an opportunity for economical shared living.
Key Highlights
- Completely renovated two‑family home with new systems, offering potential for rental income.
- Two separate units: 2‑bedroom on main floor and 3‑bedroom upstairs, each with its own kitchen and laundry hookups.
- Modern kitchens featuring stainless steel appliances and white Napoli granite countertops.**
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
$20,272
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
4.23%
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%
$405,440
$405.4K
Cap Rate 7%
$289,600
$289.6K
Cap Rate 9%
$225,244
$225.2K
Market Conditions
NOI Build-Up for 2,043 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
$30.6K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.0K $14.17/SF
− OpEx
−$8.7K −$4.25/SF
NOI
$20.3K $9.92/SF
Area
Grafton County, NH
Vacancy
5.50%
Lease Rate
$15.00 /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%
$405,440
Cap Rate 7%
$289,600
Cap Rate 9%
$225,244
Alternative Uses
Best Use
Multifamily LT 5
$289.6K
$253.4K – $337.9K
NOI $20,272 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$265.3K
$232.2K – $309.6K
NOI $18,574 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$449.4K
$393.2K – $524.3K
NOI $31,458 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 03217, NH
1,938
Population
1,340
Households
1.4
Avg Household Size
47
Median Age
32%
College-Educated
92%
High-School Grad
11.2 sq mi
ZIP Area
173
Density / Sq Mi
$54,495
Median Household Income
$37,099
Median Earnings
$1,129
Median Rent
$188,600
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 - Fully renovated two-family home near Lakes Region and White Mountains.
Where is this duplex located?
The property is located at 27 Washington Street Ashland, NH.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Completely renovated two‑family home with new systems, offering potential for rental income.; Two separate units: 2‑bedroom on main floor and 3‑bedroom upstairs, each with its own kitchen and laundry hookups.; Modern kitchens featuring stainless steel appliances and white Napoli granite countertops.**
