Updated Duplex with Investment
For Sale
$485,000
Pending
35 Green ST, Somersworth, NH 03878
Clean, updated duplex with strong income potential in convenient location.
Property Size2,324 SF
Lot Size0.22 Acres
Days on Market106
Property Features for 35 Green ST
General Information
Standard status
Pending
Size
2,324 SF
Lot size
0.22 Acres
Property subtype
Multi-Family
Zoning
R3
Building Details
Building Size
2,324 SF
Year Built
1900
Stories
3
Listing Agency:
RE/MAX Shoreline
(603) 969-6216
Listed By:
Andy Yau · License #074320
Source:
Hometown-team
Added: May 13
Changed: Aug 23
Last Checked: Jul 23 at 10:34AM
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 RE/MAX Shoreline
Investment Insights
Based on property information with market context.
This clean duplex features two units, each with 3 bedrooms, making it suitable for investors or owner-occupants. The property offers a potential cap rate of 9.81%. The exterior features curb appeal with a young roof, vinyl siding, and new stone front steps and walkways. The units include updated kitchens with new stainless steel appliances, recessed lighting, and bright white cabinets. The open-concept kitchens and living rooms are spacious, with new flooring and hardwood floors. The bathrooms have been remodeled with new tubs, flooring, and vanities. Each unit contains in-unit washer and dryers. Landlords benefit from separate utilities, while tenants have access to a spacious 0.22-acre lot with plentiful parking. Updates include a new rear porch, young heating systems, and some updated windows. The property is conveniently located close to town, shopping, restaurants, convenience stores, schools, and libraries. The property size is 2324 square feet.
Key Highlights
- Lucrative investment opportunity with a potential 9.81% cap rate.
- Each unit features 3 bedrooms, updated kitchens with stainless steel appliances, and remodeled bathrooms.
- Separate utilities for low landlord expenses.
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
$23,592
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
4.86%
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%
$471,840
$471.8K
Cap Rate 7%
$337,029
$337.0K
Cap Rate 9%
$262,133
$262.1K
Market Conditions
NOI Build-Up for 2,324 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
$34.9K $15.00/SF
− Vacancy
−$1.2K −$0.50/SF
EGI
$33.7K $14.50/SF
− OpEx
−$10.1K −$4.35/SF
NOI
$23.6K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /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%
$471,840
Cap Rate 7%
$337,029
Cap Rate 9%
$262,133
Alternative Uses
Best Use
Multifamily LT 5
$337.0K
$294.9K – $393.2K
NOI $23,592 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$310.8K
$272.0K – $362.6K
NOI $21,758 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$621.7K
$544.0K – $725.4K
NOI $43,522 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 03878, NH
11,919
Population
5,722
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
95%
High-School Grad
9.8 sq mi
ZIP Area
1,216
Density / Sq Mi
$79,691
Median Household Income
$47,638
Median Earnings
$1,410
Median Rent
$295,200
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?
Duplex - Clean, updated duplex with strong income potential in convenient location.
Where is this duplex located?
The property is located at 35 Green ST Somersworth, NH.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Lucrative investment opportunity with a potential 9.81% cap rate.; Each unit features 3 bedrooms, updated kitchens with stainless steel appliances, and remodeled bathrooms.; Separate utilities for low landlord expenses.
