Apartment Building With Rooftop
For Sale
$1,475,000
3465 White Mountain Hwy, North Conway, NH
Seven long-term rental units include an ADA-accessible one-bedroom apartment and five additional one-bedroom units.
Property Size4,162 SF
Price / SF$354.40
Days on Market24
Property Features for 3465 White Mountain Hwy
General Information
Standard status
Active
Size
4,162 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,594
Listing Agency:
KW Coastal and Lakes & Mountains Realty/N Conway
(603) 986-0840
Listed By:
Kimberly Clarke
(603) 986-0840
Source:
Exprealty
Added: Jul 16
Changed: Aug 2
Last Checked: Aug 8 at 9:58AM
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 KW Coastal and Lakes & Mountains Realty/N Conway
Investment Insights
Based on property information with market context.
The property at 3465 White Mountain Hwy in North Conway contains seven long-term rental apartments: one ADA-accessible one-bedroom unit, five additional one-bedroom units, and one two-bedroom unit. Interior improvements include Brazilian cherry, luxury vinyl plank, and pine flooring, along with brick and granite accent walls. Kitchens are contemporary, and each apartment includes mini-split heating and air conditioning, LED lighting, ceiling fans with remotes, custom blinds, and keyless entry.
Residents have access to a rooftop deck with views toward Mount Washington and the Moat Range, off-street parking, a fenced dog run, lighted common areas, storage, and coin-operated laundry. The building is fully sprinklered, with individually alarmed units. The property is situated on Route 16 in North Conway.
Residents have access to a rooftop deck with views toward Mount Washington and the Moat Range, off-street parking, a fenced dog run, lighted common areas, storage, and coin-operated laundry. The building is fully sprinklered, with individually alarmed units. The property is situated on Route 16 in North Conway.
Key Highlights
- Seven long‑term rental apartments: 1 ADA‑accessible one‑bedroom, 5 additional one‑bedrooms, and 1 two‑bedroom
- Rooftop deck with views toward Mount Washington and the Moat Range
- Mini‑split heating and air conditioning, LED lighting, and keyless entry throughout
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
$42,831
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
2.90%
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%
$856,620
$856.6K
Cap Rate 7%
$611,871
$611.9K
Cap Rate 9%
$475,900
$475.9K
Market Conditions
NOI Build-Up for 4,162 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
$82.4K $19.80/SF
− Vacancy
−$4.5K −$1.09/SF
EGI
$77.9K $18.71/SF
− OpEx
−$35.0K −$8.42/SF
NOI
$42.8K $10.29/SF
Area
Carroll County, NH
Vacancy
5.50%
Lease Rate
$19.80 /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%
$856,620
Cap Rate 7%
$611,871
Cap Rate 9%
$475,900
Alternative Uses
Best Use
Apartment 5plus
$611.9K
$535.4K – $713.9K
NOI $42,831 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$909.3K – $1.21M
NOI $72,746 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
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 - Seven long-term rental units include an ADA-accessible one-bedroom apartment and five additional one-bedroom units.
Where is this apartment building located?
The property is located at 3465 White Mountain Hwy North Conway, NH.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Seven long‑term rental apartments: 1 ADA‑accessible one‑bedroom, 5 additional one‑bedrooms, and 1 two‑bedroom; Rooftop deck with views toward Mount Washington and the Moat Range; Mini‑split heating and air conditioning, LED lighting, and keyless entry throughout
