Two-Unit Duplex with Detached
For Sale
$599,900
331 Spruce St, Manchester, NH 03103
Both residences are vacant, with a detached garage and off-street parking on site.
Property Size2,067 SF
Price / SF$290.23
Days on Market15
Property Features for 331 Spruce St
General Information
Standard status
Active
Size
2,067 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Kalivas/ Union
Additional Details
Multifamily Units
2
Amenities
off-street parking
detached garage
Building Details
Year Built
1900
Listing Agency:
BHHS Verani Londonderry
Listed By:
Shelly Weeks shelly.weeks@verani.com
Source:
Uppervalleyhomesnhvt
Added: Oct 23
Changed: Nov 1
Last Checked: Nov 4 at 1:57PM
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 BHHS Verani Londonderry
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Manchester duplex contains two units and five bedrooms across 2,067 square feet. Both units are vacant, allowing a new owner to occupy one or both residences or arrange new tenancies. The property was built in 1900 and has recent improvements.
A detached two-car garage provides storage space, with potential for another use subject to applicable approvals. Off-street parking is also available. The property is at 331 Spruce St in Manchester, near downtown, shopping, restaurants, schools, and major commuting routes.
A detached two-car garage provides storage space, with potential for another use subject to applicable approvals. Off-street parking is also available. The property is at 331 Spruce St in Manchester, near downtown, shopping, restaurants, schools, and major commuting routes.
Key Highlights
- Two units with five bedrooms total
- 2,067 square feet; built in 1900
- Delivered vacant in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,893
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,860
$557.9K
Cap Rate 7%
$398,471
$398.5K
Cap Rate 9%
$309,922
$309.9K
Market Conditions
NOI Build-Up for 2,067 SF
Gross rent
$42.2K $20.40/SF
− Vacancy
−$2.3K −$1.12/SF
EGI
$39.8K $19.28/SF
− OpEx
−$12.0K −$5.78/SF
NOI
$27.9K $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 Rate 5%
$557,860
Cap Rate 7%
$398,471
Cap Rate 9%
$309,922
Alternative Uses
Best Use
Multifamily LT 5
$398.5K
$348.7K – $464.9K
NOI $27,893 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$371.1K
$324.7K – $432.9K
NOI $25,975 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$507.6K
$444.2K – $592.2K
NOI $35,532 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,584
Businesses Nearby
Explore this area
Business Placement
Demographics for 03103, NH
38,039
Population
16,166
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
9.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$70,049
Median Household Income
$41,243
Median Earnings
$1,322
Median Rent
$313,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Manchester, NH
Properties on Market for Duplexes in Manchester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant, with a detached garage and off-street parking on site.
Where is this duplex located?
The property is located at 331 Spruce St Manchester, NH.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two units with five bedrooms total; 2,067 square feet; built in 1900; Delivered vacant in both units
