Duplex with Detached
For Sale
$635,000
Pending
28 Pearson Road, Merrimack, NH 03054
Two separate living areas include renovated finishes, a fenced in-ground pool, and a detached garage/workshop.
Property Size2,052 SF
Days on Market179
Property Features for 28 Pearson Road
General Information
Standard status
Pending
Size
2,052 SF
Property subtype
Multi Family
Zoning
RESIDENTIAL - 2 FAM
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,695
Amenities
in-ground pool
deck
workshop
leased solar panels
Private
Oil
Yes
Hardwood, Tile, Vinyl Plank
Electric Water Heater
1
3
2
Interior
Bulkhead, Concrete, Concrete Floor, Daylight, Full, No Tenant Access, Partially Finished, Interior Stairs, Sump Pump, Unfinished, Interior Access, Exterior Access, Basement Stairs
11
Architectural Shingle
Yellow
Wood Frame, Vinyl Exterior
Building Details
Year Built
1969
Buildings
2
Stories
1
Construction
ranch
Listing Agency:
EXP Realty
(617) 872-2252
Listed By:
Tatiana Gallego
(617) 872-2252
Source:
Compass
Added: Mar 4
Changed: Aug 29
Last Checked: Aug 29 at 8:02PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This residential duplex provides 2,052 square feet of single-level living across two distinct spaces. The primary residence offers three bedrooms and two baths, with hardwood, tile, and vinyl plank flooring, a renovated kitchen, and sliding-door access to a deck. The second unit includes two bedrooms, one bath, cathedral ceilings, and its own washer and dryer.
Set on a nearly one-acre corner lot in Merrimack, the property also includes a fenced in-ground pool, two driveways, a level yard, and a detached two-level garage/workshop. A partially finished 1,000+ sq ft basement adds interior storage or expansion space, although it is unheated. Recent improvements include a new furnace, French drain system, 2024 hot water heater, and leased solar panels. Access to Route 3/Everett Tpke connects the property with Nashua, Manchester, and the Massachusetts border, while Merrimack Premium Outlets, dining, schools, and daily conveniences are nearby.
Set on a nearly one-acre corner lot in Merrimack, the property also includes a fenced in-ground pool, two driveways, a level yard, and a detached two-level garage/workshop. A partially finished 1,000+ sq ft basement adds interior storage or expansion space, although it is unheated. Recent improvements include a new furnace, French drain system, 2024 hot water heater, and leased solar panels. Access to Route 3/Everett Tpke connects the property with Nashua, Manchester, and the Massachusetts border, while Merrimack Premium Outlets, dining, schools, and daily conveniences are nearby.
Key Highlights
- 3‑bedroom, 2‑bath main home plus 2‑bedroom, 1‑bath secondary unit
- 2,052 square feet of single‑level living across two separate spaces
- Nearly one‑acre corner lot with fenced in‑ground pool and two driveways
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
$30,134
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
4.75%
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%
$602,680
$602.7K
Cap Rate 7%
$430,486
$430.5K
Cap Rate 9%
$334,822
$334.8K
Market Conditions
NOI Build-Up for 2,052 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
$45.6K $22.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$43.0K $20.98/SF
− OpEx
−$12.9K −$6.29/SF
NOI
$30.1K $14.69/SF
Area
Hillsborough County, NH
Vacancy
5.50%
Lease Rate
$22.20 /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%
$602,680
Cap Rate 7%
$430,486
Cap Rate 9%
$334,822
Alternative Uses
Best Use
Multifamily LT 5
$430.5K
$376.7K – $502.2K
NOI $30,134 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$398.8K
$349.0K – $465.3K
NOI $27,919 @ 7.0% cap · market cap 4.40%
Theoretical Best
Specialty Retail
$3.76M
$3.29M – $4.39M
NOI $263,169 @ 7.0% cap · market cap 41.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 03054, NH
26,622
Population
10,581
Households
2.5
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
32.6 sq mi
ZIP Area
817
Density / Sq Mi
$128,897
Median Household Income
$65,604
Median Earnings
$1,819
Median Rent
$406,200
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 separate living areas include renovated finishes, a fenced in-ground pool, and a detached garage/workshop.
Where is this duplex located?
The property is located at 28 Pearson Road Merrimack, NH.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath main home plus 2‑bedroom, 1‑bath secondary unit; 2,052 square feet of single‑level living across two separate spaces; Nearly one‑acre corner lot with fenced in‑ground pool and two driveways
