Duplex With Enclosed
For Sale
Under Contract
$550,000
28 Fifth Street, Dover, NH 03820
Multi-Family, Dover, NH
Property Size2,610 SF
Lot Size0.04 Acres
Price / SF$210.73
Days on Market152
Property Features for 28 Fifth Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CBD-R
Rooms
Basement
Patio and Porch features
Porch
Exterior features
Enclosed Porch
Lot features
Curbing, Level, Sidewalks, In Town
Directions
Gps friendly -
Standard status
Active Under Contract
Size
2,610 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9956
Utilities
Heating system
Oil
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Wood Frame, Vinyl Exterior
Roof type
Shingle
Architectural style
Other
Listing Agency:
KW Coastal and Lakes & Mountains Realty · Keller Williams Realty
(603) 610-8500
Listed By:
Marcia Giniusz
(207) 752-0472
Added: Apr 9
Changed: Sep 1
Last Checked: Sep 7 at 6:06AM
MLS# 5082923
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,610-square-foot duplex on a 0.04-acre parcel contains two distinct residential units: one with two bedrooms and another with seven bedrooms. The smaller unit includes a private entrance, a generously sized kitchen, dishwasher, and recently installed kitchen flooring. The seven-bedroom unit has renovated bathrooms and is fully leased. Interior finishes include hardwood and vinyl flooring, while the building features wood-frame construction, vinyl exterior siding, an enclosed porch, shingle roofing, oil heat, and a basement. Built in 1900, the property uses public water and is zoned CBD-R. The sale is offered in its current condition.
Key Highlights
- 2,610‑square‑foot duplex with one 2‑bedroom unit and one 7‑bedroom unit
- Seven‑bedroom unit is fully leased
- Private entrance, spacious kitchen, dishwasher, and new kitchen flooring in the 2‑bedroom unit
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
Lease Details
2
Residential units
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 - Two-unit property with separate entrances, a spacious kitchen, renovated bathrooms, and a mix of hardwood and vinyl flooring.
Where is this duplex located?
The property is located at 28 Fifth Street 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‑square‑foot duplex with one 2‑bedroom unit and one 7‑bedroom unit; Seven‑bedroom unit is fully leased; Private entrance, spacious kitchen, dishwasher, and new kitchen flooring in the 2‑bedroom unit
