Multifamily Property with Two
For Sale
$1,488,000
34 & 30 River St, Exeter, NH 03833
Two riverfront residences offer flexible multifamily use on a level lot near downtown Exeter.
Property Size3,273 SF
Price / SF$454.63
Days on Market13
Property Features for 34 & 30 River St
General Information
Standard status
Active
Size
3,273 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/3BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Buildings
2
Listing Agency:
Duston Leddy Real Estate
(603) 682-2100
Listed By:
Carrie Barron
Source:
603propertygroup
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 11:49AM
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 Duston Leddy Real Estate
Investment Insights
Based on property information with market context.
This multifamily offering includes two riverfront residences on a large, level lot along a quiet dead-end street. The primary home, built in 1920, has 4 bedrooms and 3 baths, with an open main level, Thermador appliances, custom cabinetry, soapstone countertops, pantry storage, and a family room with built-in seating. The upper floors include three bedrooms, an updated full bath, laundry, and a primary suite with seasonal river views, reclaimed pine flooring, a travertine bath, walk-in closet, and built-in storage.
The second residence contains 2 bedrooms and 1 bath, providing a separate living arrangement within the same property. Combined property size is 3,273 square feet. The location is within walking distance of downtown Exeter, local restaurants and shops, and Phillips Exeter Academy.
The second residence contains 2 bedrooms and 1 bath, providing a separate living arrangement within the same property. Combined property size is 3,273 square feet. The location is within walking distance of downtown Exeter, local restaurants and shops, and Phillips Exeter Academy.
Key Highlights
- Two riverfront homes on one property
- Primary residence includes 4 bedrooms and 3 baths
- Second residence offers 2 bedrooms and 1 bath
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
$49,667
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
3.34%
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%
$993,340
$993.3K
Cap Rate 7%
$709,529
$709.5K
Cap Rate 9%
$551,856
$551.9K
Market Conditions
NOI Build-Up for 3,273 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
$94.3K $28.80/SF
− Vacancy
−$4.0K −$1.21/SF
EGI
$90.3K $27.59/SF
− OpEx
−$40.6K −$12.42/SF
NOI
$49.7K $15.17/SF
Area
Rockingham County, NH
Vacancy
4.20%
Lease Rate
$28.80 /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%
$993,340
Cap Rate 7%
$709,529
Cap Rate 9%
$551,856
Alternative Uses
Best Use
Apartment 5plus
$709.5K
$620.8K – $827.8K
NOI $49,667 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$953.5K – $1.27M
NOI $76,277 @ 7.0% cap · market cap 5.13%
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
1,204
Businesses Nearby
Explore this area
Business Placement
Demographics for 03833, NH
22,662
Population
9,789
Households
2.3
Avg Household Size
47
Median Age
54%
College-Educated
98%
High-School Grad
48.5 sq mi
ZIP Area
467
Density / Sq Mi
$110,566
Median Household Income
$59,220
Median Earnings
$1,632
Median Rent
$456,000
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?
Multifamily property - Two riverfront residences offer flexible multifamily use on a level lot near downtown Exeter.
Where is this multifamily property located?
The property is located at 34 & 30 River St Exeter, NH.
What is the asking price?
The asking price for this property is $1,488,000.
What are key features of this property?
This property features: Two riverfront homes on one property; Primary residence includes 4 bedrooms and 3 baths; Second residence offers 2 bedrooms and 1 bath
