Two-Unit Multifamily
For Sale
$550,000
28 5th St, Dover, NH 03820
Separate residences include a two-bedroom unit and a seven-bedroom unit with updated bathrooms and kitchen improvements.
Property Size2,610 SF
Price / SF$210.73
Days on Market134
Property Features for 28 5th St
General Information
Standard status
Active
Size
2,610 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,956
Listing Agency:
KW Coastal and Lakes & Mountains Realty
(207) 752-0472
Listed By:
Marcia Giniusz
(207) 752-0472
Source:
Exprealty
Added: Apr 9
Changed: Aug 20
Last Checked: Aug 20 at 9:38AM
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 KW Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
This 2,610-square-foot duplex contains two distinct residences: one two-bedroom unit and a second unit with seven bedrooms. The smaller residence has its own entrance, a generously sized kitchen, a dishwasher, and recently replaced kitchen flooring. Bathrooms in the larger unit have been renovated, and all seven bedrooms are leased.
The property is located at 28 5th St in Dover, NH, within walking distance of downtown Dover. Its two-unit configuration, varied bedroom count, and existing leases provide a clearly defined multifamily layout for an owner-user or investor.
The property is located at 28 5th St in Dover, NH, within walking distance of downtown Dover. Its two-unit configuration, varied bedroom count, and existing leases provide a clearly defined multifamily layout for an owner-user or investor.
Key Highlights
- 2,610 SF duplex at 28 5th St, Dover, NH
- One 2‑bedroom unit plus a second 7‑bedroom unit
- All 7 bedrooms in the larger unit are leased
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
$26,495
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
4.82%
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%
$529,900
$529.9K
Cap Rate 7%
$378,500
$378.5K
Cap Rate 9%
$294,389
$294.4K
Market Conditions
NOI Build-Up for 2,610 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
$39.2K $15.00/SF
− Vacancy
−$1.3K −$0.50/SF
EGI
$37.9K $14.50/SF
− OpEx
−$11.4K −$4.35/SF
NOI
$26.5K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
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%
$529,900
Cap Rate 7%
$378,500
Cap Rate 9%
$294,389
Alternative Uses
Best Use
Multifamily LT 5
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$349.1K
$305.5K – $407.3K
NOI $24,436 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$698.3K
$611.0K – $814.6K
NOI $48,878 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 03820, NH
32,800
Population
15,460
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
1,201
Density / Sq Mi
$92,793
Median Household Income
$53,890
Median Earnings
$1,540
Median Rent
$397,900
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 - Separate residences include a two-bedroom unit and a seven-bedroom unit with updated bathrooms and kitchen improvements.
Where is this duplex located?
The property is located at 28 5th St Dover, NH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,610 SF duplex at 28 5th St, Dover, NH; One 2‑bedroom unit plus a second 7‑bedroom unit; All 7 bedrooms in the larger unit are leased
