Three-Unit Multifamily
New
For Sale
$699,900
325 Walnut Street, Manchester, NH 03104
Multifamily asset with separate residences and access to downtown, shopping, schools, dining, transit, and commuter routes.
Property Size3,501 SF
Price / SF$149.94
Days on Market7
Property Features for 325 Walnut Street
General Information
Standard status
Active
Size
3,501 SF
Property subtype
Multi Family Home
Zoning
Residential
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,936
Building Details
Building Size
3,501 SF
Year Built
1901
Stories
3
Units
3
Listing Agency:
Galactic Realty Group LLC
(603) 637-4818
Listed By:
Douglas Schack
Source:
Threehillsres
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 23 at 8:30AM
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 Galactic Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1901, this multifamily property contains three separate residential units within a single three-family asset. The unit configuration supports multiple occupancy arrangements, including the option for an owner-occupant to reside on site while leasing the remaining residences, as described for the property.
The property is located at 325 Walnut St in Manchester’s North End, with access to downtown Manchester, shopping, restaurants, schools, public transportation, and major commuter routes. Its walk score is 98, rated Walker’s Paradise, while the bike score is 54, rated Bikeable.
The property is located at 325 Walnut St in Manchester’s North End, with access to downtown Manchester, shopping, restaurants, schools, public transportation, and major commuter routes. Its walk score is 98, rated Walker’s Paradise, while the bike score is 54, rated Bikeable.
Key Highlights
- Three separate residential units in one multifamily property
- Built in 1901
- Located at 325 Walnut St in Manchester’s North End
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
$62,993
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
9.00%
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%
$1,259,860
$1.3M
Cap Rate 7%
$899,900
$899.9K
Cap Rate 9%
$699,922
$699.9K
Market Conditions
NOI Build-Up for 4,668 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
$95.2K $20.40/SF
− Vacancy
−$5.2K −$1.12/SF
EGI
$90.0K $19.28/SF
− OpEx
−$27.0K −$5.78/SF
NOI
$63.0K $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%
$1,259,860
Cap Rate 7%
$899,900
Cap Rate 9%
$699,922
Alternative Uses
Best Use
Multifamily LT 5
$899.9K
$787.4K – $1.05M
NOI $62,993 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$838.0K
$733.3K – $977.7K
NOI $58,660 @ 7.0% cap · market cap 8.38%
Theoretical Best
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,243 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,726
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?
Triplex - Multifamily asset with separate residences and access to downtown, shopping, schools, dining, transit, and commuter routes.
Where is this triplex located?
The property is located at 325 Walnut Street Manchester, NH.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three separate residential units in one multifamily property; Built in 1901; Located at 325 Walnut St in Manchester’s North End
