3-Unit Triplex Near
New
For Sale
$939,900
28-30 Thorwald Avenue, Hampton, NH 03842
Three residences offer private entrances, mini-split air conditioning, and a separate cottage with private outdoor space.
Property Size2,192 SF
Price / SF$428.79
Days on Market3
Property Features for 28-30 Thorwald Avenue
General Information
Standard status
Active
Size
2,192 SF
Property subtype
Multi-Family
Zoning
RB
Building Details
Year Built
1965
Stories
2
Listing Agency:
Bay Market Real Estate
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 5 at 5:21AM
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 Bay Market Real Estate
Investment Insights
Based on property information with market context.
Built in 1965, this 2,192-square-foot triplex includes a duplex building with two garden-style apartments and a separate town-approved home. Each apartment provides three bedrooms, an open floor plan, and its own entrance. The detached residence has one bedroom, one bathroom, custom cabinetry, and a private outdoor area behind a privacy fence. It was renovated in 2022, excluding appliances. All three units use mini-split air conditioning.
The property is located at 28-30 Thorwald Avenue in Hampton, within the Surfside Park neighborhood and 0.3 miles from North Beach. Hampton Beach, shopping, restaurants, and major commuter routes are nearby. On-site features include parking for five vehicles, a shed, and additional shared yard area. The property is zoned RB, and flood insurance is not required.
The property is located at 28-30 Thorwald Avenue in Hampton, within the Surfside Park neighborhood and 0.3 miles from North Beach. Hampton Beach, shopping, restaurants, and major commuter routes are nearby. On-site features include parking for five vehicles, a shed, and additional shared yard area. The property is zoned RB, and flood insurance is not required.
Key Highlights
- Three‑unit configuration with two 3‑bedroom apartments and a separate 1‑bedroom home
- 2,192 square feet on a property built in 1965
- Separate 1‑bedroom, 1‑bath home renovated in 2022, excluding appliances
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
$36,927
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
3.93%
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%
$738,540
$738.5K
Cap Rate 7%
$527,529
$527.5K
Cap Rate 9%
$410,300
$410.3K
Market Conditions
NOI Build-Up for 2,192 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
$55.2K $25.20/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$52.8K $24.07/SF
− OpEx
−$15.8K −$7.22/SF
NOI
$36.9K $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%
$738,540
Cap Rate 7%
$527,529
Cap Rate 9%
$410,300
Alternative Uses
Best Use
Multifamily LT 5
$527.5K
$461.6K – $615.5K
NOI $36,927 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$475.2K
$415.8K – $554.4K
NOI $33,263 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$729.8K
$638.6K – $851.4K
NOI $51,084 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 03842, NH
16,048
Population
9,978
Households
1.6
Avg Household Size
53
Median Age
43%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,254
Density / Sq Mi
$94,433
Median Household Income
$53,533
Median Earnings
$1,679
Median Rent
$491,600
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?
Triplex - Three residences offer private entrances, mini-split air conditioning, and a separate cottage with private outdoor space.
Where is this triplex located?
The property is located at 28-30 Thorwald Avenue Hampton, NH.
What is the asking price?
The asking price for this property is $939,900.
What are key features of this property?
This property features: Three‑unit configuration with two 3‑bedroom apartments and a separate 1‑bedroom home; 2,192 square feet on a property built in 1965; Separate 1‑bedroom, 1‑bath home renovated in 2022, excluding appliances
