Three-Unit Residential
For Sale
$615,000
334 Rimmon Street, Manchester, NH 03102
Multi-Family, Manchester, NH
Property Size2,594 SF
Lot Size0.12 Acres
Price / SF$237.09
Days on Market11
Property Features for 334 Rimmon Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Parking features
On Street
Lot features
City Lot
Standard status
Active
Size
2,594 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6751
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
DiPietro Group Real Estate
(603) 216-5086
Listed By:
Joseph Pantaleo
(603) 327-9760
Added: Sep 14
Changed: Sep 24
Last Checked: Sep 24 at 10:06PM
MLS# 5109655
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.
Built in 1920, this 2,594-square-foot triplex contains three apartments: one with two bedrooms and two with one bedroom each. One apartment is vacant, while the other two are occupied and have recently renewed leases. The property has forced-air heating, central air conditioning, a shingle roof, and public water. Its lot measures 0.12 acres, and parking is on the street.
Zoning is R. The vacant unit offers an owner-occupancy option, while the two leased apartments provide existing occupancy.
Zoning is R. The vacant unit offers an owner-occupancy option, while the two leased apartments provide existing occupancy.
Key Highlights
- Three apartments: one 2‑bedroom unit and two 1‑bedroom units
- 2,594 square feet on a 0.12‑acre lot
- One vacant unit; two occupied units with recently renewed leases
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
$35,005
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
5.69%
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%
$700,100
$700.1K
Cap Rate 7%
$500,071
$500.1K
Cap Rate 9%
$388,944
$388.9K
Market Conditions
NOI Build-Up for 2,594 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
$52.9K $20.40/SF
− Vacancy
−$2.9K −$1.12/SF
EGI
$50.0K $19.28/SF
− OpEx
−$15.0K −$5.78/SF
NOI
$35.0K $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%
$700,100
Cap Rate 7%
$500,071
Cap Rate 9%
$388,944
Alternative Uses
Best Use
Multifamily LT 5
$500.1K
$437.6K – $583.4K
NOI $35,005 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$465.7K
$407.5K – $543.3K
NOI $32,597 @ 7.0% cap · market cap 5.30%
Theoretical Best
Specialty Retail
$637.0K
$557.4K – $743.2K
NOI $44,591 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,609
Businesses Nearby
Explore this area
Business Placement
Demographics for 03102, NH
33,396
Population
15,264
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
9.1 sq mi
ZIP Area
3,670
Density / Sq Mi
$69,927
Median Household Income
$43,518
Median Earnings
$1,533
Median Rent
$309,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - A vacant apartment sits alongside two occupied units with recently renewed leases.
Where is this triplex located?
The property is located at 334 Rimmon Street Manchester, NH.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Three apartments: one 2‑bedroom unit and two 1‑bedroom units; 2,594 square feet on a 0.12‑acre lot; One vacant unit; two occupied units with recently renewed leases
