Renovated Victorian Duplex with
For Sale
$739,000
283 Orange St, Manchester, NH 03104
Two-unit residence with garden grounds, fireplaces, and flexible upper-level rooms.
Property Size4,580 SF
Price / SF$161.35
Days on Market9
Property Features for 283 Orange St
General Information
Standard status
Active
Size
4,580 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
patio
fire-pit
water fountain
wrap around front porch
private back porches
Building Details
Year Built
1891
Buildings
1
Construction
Victorian
Listing Agency:
Century 21 Dumont and Assoc.
(603) 668-5100
Listed By:
Richard Dumont · License #1995
Source:
Seevermonthomesforsale
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 12:17PM
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 Century 21 Dumont and Assoc.
Investment Insights
Based on property information with market context.
Built in 1891, this 4,580-square-foot Victorian duplex includes two full basements, separate back porches, and a renovated wraparound front porch. Exterior improvements include repointed granite block foundation and chimneys, a reset slate roof with replaced valleys and ridges, and refreshed outdoor areas with a retaining wall, patio, fire pit, water fountain, planter beds, and perennial landscaping.
The owner’s unit features original tin ceiling details, restored hardwood flooring, a renovated first-floor three-quarter bath, and an open arrangement connecting the kitchen, dining area, and family/living rooms. The second floor has three bedrooms and a full bath, while the third floor contains six rooms spanning the building; three are used as bedrooms in the owner’s unit and three above the tenant unit are used for storage. Located in Manchester’s North End near shopping, dining, parks, schools, downtown amenities, and major commuter routes.
The owner’s unit features original tin ceiling details, restored hardwood flooring, a renovated first-floor three-quarter bath, and an open arrangement connecting the kitchen, dining area, and family/living rooms. The second floor has three bedrooms and a full bath, while the third floor contains six rooms spanning the building; three are used as bedrooms in the owner’s unit and three above the tenant unit are used for storage. Located in Manchester’s North End near shopping, dining, parks, schools, downtown amenities, and major commuter routes.
Key Highlights
- 4,580‑square‑foot two‑family property built in 1891
- Renovated wraparound porch plus two private rear porches
- Owner’s unit includes 3 bedrooms, full bath, and 3/4 bath
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
$61,805
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
8.36%
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%
$1,236,100
$1.2M
Cap Rate 7%
$882,929
$882.9K
Cap Rate 9%
$686,722
$686.7K
Market Conditions
NOI Build-Up for 4,580 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
$93.4K $20.40/SF
− Vacancy
−$5.1K −$1.12/SF
EGI
$88.3K $19.28/SF
− OpEx
−$26.5K −$5.78/SF
NOI
$61.8K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /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%
$1,236,100
Cap Rate 7%
$882,929
Cap Rate 9%
$686,722
Alternative Uses
Best Use
Multifamily LT 5
$882.9K
$772.6K – $1.03M
NOI $61,805 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$822.2K
$719.4K – $959.2K
NOI $57,554 @ 7.0% cap · market cap 7.79%
Theoretical Best
Specialty Retail
$1.12M
$984.1K – $1.31M
NOI $78,730 @ 7.0% cap · market cap 10.65%
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
1,684
Businesses Nearby
Explore this area
Business Placement
Demographics for 03104, NH
34,324
Population
15,715
Households
2.2
Avg Household Size
38
Median Age
43%
College-Educated
94%
High-School Grad
8.3 sq mi
ZIP Area
4,135
Density / Sq Mi
$84,513
Median Household Income
$48,513
Median Earnings
$1,455
Median Rent
$364,200
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-unit residence with garden grounds, fireplaces, and flexible upper-level rooms.
Where is this duplex located?
The property is located at 283 Orange St Manchester, NH.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: 4,580‑square‑foot two‑family property built in 1891; Renovated wraparound porch plus two private rear porches; Owner’s unit includes 3 bedrooms, full bath, and 3/4 bath
