Townhouse-Style
New
For Sale
$529,000
33-35 St Thomas, Dover, NH 03820
Multi-Family, Dover, NH
Property Size1,572 SF
Lot Size0.08 Acres
Price / SF$336.51
Days on Market7
Property Features for 33-35 St Thomas
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CBD-M
Rooms
Basement
Parking features
On Street, Driveway
Exterior features
Shed
Lot features
Level, Sidewalks, Street Lights, In Town, Near Shopping, Near Public Transport, Near Railroad, Near School(s)
Elementary school
Woodman Park Elementary School
Middle school
Dover Middle School
High school
Dover High School
Elementary school district
Dover
Middle school district
Dover
High school district
Dover
Directions
GPS friendly. Take Central Ave to Locust St in Dover. From Locust St (beside the Dover Courthouse), turn onto St. Thomas St. Proceed straight; property will be on the right.Sign on property.
Standard status
Active
Size
1,572 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7413
Utilities
Utilities
Cable Available
Heating system
Forced Air
Water source
Public
Building Details
Year built
1800
Floors in Building
2
Number of units
2
Flooring type
Laminate, Vinyl, Combination, Tile - Ceramic
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Dover · Keller Williams Realty
(603) 969-6632
Listed By:
Darlene Colwell-Ellis · License #042783
(603) 610-8500
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 16 at 4:06AM
MLS# 5109396
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 1,572-square-foot duplex at 33-35 St Thomas includes two townhouse-style units, each with 2BR and one bath. One residence has updated flooring, refreshed finishes, contemporary bathroom improvements, natural light, and a functional kitchen with updated appliances. The second unit requires updating and renovation. Sloped upper-level ceilings add character, while the wood-frame structure also includes a basement, shingle roof, forced-air heat, and a shed.
The property occupies 0.08 acres in downtown Dover, within walking distance of restaurants, coffee shops, shopping, and entertainment. Parking is provided by a driveway and on-street spaces, and the backyard offers additional outdoor area. The property is zoned CBD-M and was built in 1800, with public water and cable availability.
The property occupies 0.08 acres in downtown Dover, within walking distance of restaurants, coffee shops, shopping, and entertainment. Parking is provided by a driveway and on-street spaces, and the backyard offers additional outdoor area. The property is zoned CBD-M and was built in 1800, with public water and cable availability.
Key Highlights
- Two 2BR, one‑bath townhouse‑style units
- 1,572 square feet on a 0.08‑acre lot
- One unit features updated flooring, finishes, bathroom fixtures, and appliances
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
$15,958
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
3.02%
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%
$319,160
$319.2K
Cap Rate 7%
$227,971
$228.0K
Cap Rate 9%
$177,311
$177.3K
Market Conditions
NOI Build-Up for 1,572 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
$23.6K $15.00/SF
− Vacancy
−$783 −$0.50/SF
EGI
$22.8K $14.50/SF
− OpEx
−$6.8K −$4.35/SF
NOI
$16.0K $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%
$319,160
Cap Rate 7%
$227,971
Cap Rate 9%
$177,311
Alternative Uses
Best Use
Multifamily LT 5
$228.0K
$199.5K – $266.0K
NOI $15,958 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$210.3K
$184.0K – $245.3K
NOI $14,718 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,451
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature flexible layouts, downtown access, and driveway plus on-street parking.
Where is this duplex located?
The property is located at 33-35 St Thomas Dover, NH.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two 2BR, one‑bath townhouse‑style units; 1,572 square feet on a 0.08‑acre lot; One unit features updated flooring, finishes, bathroom fixtures, and appliances
