3-Unit Triplex with Separate
New
For Sale
$650,000
359 Pearl St, Manchester, NH 03104
The three-unit layout combines two two-story residences with a separate rear apartment.
Property Size3,002 SF
Price / SF$216.52
Days on Market2
Property Features for 359 Pearl St
General Information
Standard status
Active
Size
3,002 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR, 1 x 1BR
Multifamily Units
3
Building Details
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
EXP Realty
Listed By:
Christine Tatro
(603) 738-3000
Source:
Melanienorcross
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:25AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This 1930 triplex contains 3,002 square feet of living area across three apartments. Two side-by-side, two-story units each have three bedrooms; a single-story rear unit has one bedroom. The property totals seven bedrooms and three full bathrooms. Each apartment has separate utilities, and residents pay their own usage. Additional features include off-street parking, vinyl siding, an asphalt shingle roof, and forced hot water heating.
The property is on Pearl Street in Manchester, near Derryfield Park, McIntyre Ski Area, downtown amenities, dining, public transportation, and commuter routes. The building is currently fully occupied; one unit is under a tenant-at-will agreement.
The property is on Pearl Street in Manchester, near Derryfield Park, McIntyre Ski Area, downtown amenities, dining, public transportation, and commuter routes. The building is currently fully occupied; one unit is under a tenant-at-will agreement.
Key Highlights
- Three apartments with 3,002 square feet of living area
- Two two‑story, three‑bedroom units and one single‑story, one‑bedroom unit
- Seven bedrooms and three full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,511
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,220
$810.2K
Cap Rate 7%
$578,729
$578.7K
Cap Rate 9%
$450,122
$450.1K
Market Conditions
NOI Build-Up for 3,002 SF
Gross rent
$61.2K $20.40/SF
− Vacancy
−$3.4K −$1.12/SF
EGI
$57.9K $19.28/SF
− OpEx
−$17.4K −$5.78/SF
NOI
$40.5K $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 Rate 5%
$810,220
Cap Rate 7%
$578,729
Cap Rate 9%
$450,122
Alternative Uses
Best Use
Multifamily LT 5
$578.7K
$506.4K – $675.2K
NOI $40,511 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$538.9K
$471.6K – $628.7K
NOI $37,724 @ 7.0% cap · market cap 5.80%
Theoretical Best
Specialty Retail
$737.2K
$645.1K – $860.1K
NOI $51,604 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
661
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - The three-unit layout combines two two-story residences with a separate rear apartment.
Where is this triplex located?
The property is located at 359 Pearl St Manchester, NH.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three apartments with 3,002 square feet of living area; Two two‑story, three‑bedroom units and one single‑story, one‑bedroom unit; Seven bedrooms and three full bathrooms
