Six-Unit Apartment Building with
New
For Sale
$1,375,000
339 Amherst Street, Manchester, NH 03104
Fully occupied multifamily property with four-bedroom units, off-street parking, storage, and a current Certificate of Compliance.
Property Size8,310 SF
Days on Market6
Property Features for 339 Amherst Street
General Information
Standard status
Active
Size
8,310 SF
Property subtype
Multi Family Home
Zoning
MX-2
Taxes and HOA fees
Annual Taxes
$15,364
Building Details
Building Size
8,310 SF
Year Built
1860
Stories
3
Units
6
Listing Agency:
Debra Hull Realty, LLC
(603) 493-4555
Listed By:
Debra Hull
(603) 493-4555
Source:
Ossipeelakere
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 23 at 11:43AM
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 Debra Hull Realty, LLC
Investment Insights
Based on property information with market context.
This 6-unit apartment property in Manchester, New Hampshire, was built in 1860 and is zoned MX-2. Each unit contains 4 bedrooms and 1 bathroom, along with washer and dryer hookups, a refrigerator, and a gas or electric range. Four units include private decks, while some bedrooms do not have closets.
The property provides off-street parking for 7 vehicles and includes 5 storage units. Basement improvements include two forced hot water heating systems. Residents pay their own electricity and hot water; ownership covers heat, water, and sewer. The Certificate of Compliance is current, and the same owners have managed and maintained the property for over 22 years.
The property provides off-street parking for 7 vehicles and includes 5 storage units. Basement improvements include two forced hot water heating systems. Residents pay their own electricity and hot water; ownership covers heat, water, and sewer. The Certificate of Compliance is current, and the same owners have managed and maintained the property for over 22 years.
Key Highlights
- 6‑unit apartment property in Manchester, NH, with MX‑2 zoning
- Each unit includes 4 bedrooms and 1 bathroom
- Four units have private decks; some bedrooms do not have closets
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
$104,427
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
7.59%
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%
$2,088,540
$2.1M
Cap Rate 7%
$1,491,814
$1.5M
Cap Rate 9%
$1,160,300
$1.2M
Market Conditions
NOI Build-Up for 8,310 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
$199.4K $24.00/SF
− Vacancy
−$9.6K −$1.15/SF
EGI
$189.9K $22.85/SF
− OpEx
−$85.4K −$10.28/SF
NOI
$104.4K $12.57/SF
Area
Manchester, NH
Vacancy
4.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,088,540
Cap Rate 7%
$1,491,814
Cap Rate 9%
$1,160,300
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,427 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.04M
$1.79M – $2.38M
NOI $142,849 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,851
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?
Apartment building - Fully occupied multifamily property with four-bedroom units, off-street parking, storage, and a current Certificate of Compliance.
Where is this apartment building located?
The property is located at 339 Amherst Street Manchester, NH.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 6‑unit apartment property in Manchester, NH, with MX‑2 zoning; Each unit includes 4 bedrooms and 1 bathroom; Four units have private decks; some bedrooms do not have closets
