Duplex with Walk-Up
For Sale
$485,000
298-302 Village Street, Concord, NH 03303
Two residential units offer private porches, in-unit laundry, separate utilities, and off-street parking.
Property Size2,758 SF
Price / SF$175.85
Days on Market167
Property Features for 298-302 Village Street
General Information
Standard status
Active
Size
2,758 SF
Property subtype
Multi Family
Zoning
CBP
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,271
Amenities
stainless steel appliances
in-unit laundry
private porches
Natural Gas
Yes
2
Interior
Dirt Floor
Architectural Shingle
Grey
Wood Frame, Vinyl Siding
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 965-5021
Listed By:
Christina Grover
(603) 965-5021
Source:
Compass
Added: Mar 19
Changed: Aug 30
Last Checked: Aug 30 at 5:58PM
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 Keller Williams Realty-Metropolitan
Investment Insights
Based on property information with market context.
This two-unit residential property contains 2,758 square feet and dates to 1900. Each apartment measures more than 1,300 square feet and includes two bedrooms, a spacious kitchen with stainless steel appliances, in-unit laundry, a private porch, and dedicated off-street parking. The upper unit also connects to a full walk-up attic. Separate utilities, two natural-gas furnaces, and public water and sewer support distinct unit operations. The property is zoned CBP and features wood-frame construction with vinyl siding and an architectural-shingle roof.
The property is located on Village Street in the Penacook section of Concord, minutes from Merchants Way at Exit 17 and approximately 10 minutes from downtown Concord. The two-unit layout supports either owner occupancy with a rented companion unit or leasing both apartments, as stated in the property information.
The property is located on Village Street in the Penacook section of Concord, minutes from Merchants Way at Exit 17 and approximately 10 minutes from downtown Concord. The two-unit layout supports either owner occupancy with a rented companion unit or leasing both apartments, as stated in the property information.
Key Highlights
- 2,758 SF duplex with two 2‑bedroom units
- Each unit exceeds 1,300 square feet and includes stainless‑steel appliances
- Upper apartment includes a full walk‑up attic
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
$39,616
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
8.17%
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%
$792,320
$792.3K
Cap Rate 7%
$565,943
$565.9K
Cap Rate 9%
$440,178
$440.2K
Market Conditions
NOI Build-Up for 2,758 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
$59.6K $21.60/SF
− Vacancy
−$3.0K −$1.08/SF
EGI
$56.6K $20.52/SF
− OpEx
−$17.0K −$6.16/SF
NOI
$39.6K $14.36/SF
Area
Merrimack County, NH
Vacancy
5.00%
Lease Rate
$21.60 /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%
$792,320
Cap Rate 7%
$565,943
Cap Rate 9%
$440,178
Alternative Uses
Best Use
Multifamily LT 5
$565.9K
$495.2K – $660.3K
NOI $39,616 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$521.5K
$456.3K – $608.4K
NOI $36,506 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$718.1K
$628.4K – $837.8K
NOI $50,269 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 03303, NH
16,516
Population
6,907
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
94%
High-School Grad
67.8 sq mi
ZIP Area
244
Density / Sq Mi
$79,688
Median Household Income
$49,648
Median Earnings
$1,363
Median Rent
$274,100
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 residential units offer private porches, in-unit laundry, separate utilities, and off-street parking.
Where is this duplex located?
The property is located at 298-302 Village Street Concord, NH.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2,758 SF duplex with two 2‑bedroom units; Each unit exceeds 1,300 square feet and includes stainless‑steel appliances; Upper apartment includes a full walk‑up attic
