Two-Unit Duplex with Rear
For Sale
$375,000
Pending
334 Massabesic ST, Manchester, NH 03103
R-2 zoning, newer heating systems, and off-street parking complement the two-unit residential layout.
Property Size1,667 SF
Days on Market113
Property Features for 334 Massabesic ST
General Information
Standard status
Pending
Size
1,667 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
R-2
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
rear deck
partially fenced yard
Building Details
Building Size
1,667 SF
Year Built
1905
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 965-5021
Listed By:
Christina Grover
Source:
Hometown-team
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 8:25PM
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 1,667-square-foot duplex, built in 1905, contains two one-bedroom, one-bath units. The first-floor residence is leased through November 2026, while the second-floor unit is vacant and identified for cosmetic updating. A rear deck, partially fenced yard, and two off-street parking spaces add practical exterior features.
Major property components include a 2-year-young architectural shingle roof, newer heating systems, and newer water heaters. The building is located just behind Elliot Hospital in Manchester, placing the property near a major medical facility. R-2 zoning supports the existing two-family configuration.
Major property components include a 2-year-young architectural shingle roof, newer heating systems, and newer water heaters. The building is located just behind Elliot Hospital in Manchester, placing the property near a major medical facility. R-2 zoning supports the existing two-family configuration.
Key Highlights
- Two one‑bedroom, one‑bath units in a 1,667 SF duplex
- First‑floor unit leased through November 2026
- Second‑floor unit is vacant and identified for cosmetic updates
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
$22,495
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
6.00%
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%
$449,900
$449.9K
Cap Rate 7%
$321,357
$321.4K
Cap Rate 9%
$249,944
$249.9K
Market Conditions
NOI Build-Up for 1,667 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
$34.0K $20.40/SF
− Vacancy
−$1.9K −$1.12/SF
EGI
$32.1K $19.28/SF
− OpEx
−$9.6K −$5.78/SF
NOI
$22.5K $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%
$449,900
Cap Rate 7%
$321,357
Cap Rate 9%
$249,944
Alternative Uses
Best Use
Multifamily LT 5
$321.4K
$281.2K – $374.9K
NOI $22,495 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.1K
NOI $20,948 @ 7.0% cap · market cap 5.59%
Theoretical Best
Specialty Retail
$409.4K
$358.2K – $477.6K
NOI $28,656 @ 7.0% cap · market cap 7.64%
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
1,558
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
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 - R-2 zoning, newer heating systems, and off-street parking complement the two-unit residential layout.
Where is this duplex located?
The property is located at 334 Massabesic ST Manchester, NH.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units in a 1,667 SF duplex; First‑floor unit leased through November 2026; Second‑floor unit is vacant and identified for cosmetic updates
