Four-Unit Corner-Lot
For Sale
$825,000
364 Manchester St, Manchester, NH 03103
Owner-occupied multifamily property with updated mechanical systems, varied unit layouts, landscaped grounds, and a fenced parking area.
Property Size3,857 SF
Price / SF$213.90
Days on Market11
Property Features for 364 Manchester St
General Information
Standard status
Active
Size
3,857 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1910
Listing Agency:
Pierre Peloquin Realty
Listed By:
Pierre J Peloquin
(603) 668-9923
Source:
Langelange
Added: Sep 15
Changed: Sep 23
Last Checked: Sep 24 at 1:06PM
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 Pierre Peloquin Realty
Investment Insights
Based on property information with market context.
This 3,857-square-foot quadplex, built in 1910, contains four residential units with a varied configuration. The first-floor residence offers three bedrooms, hardwood and laminate flooring, and tile in the kitchen. Two one-bedroom apartments include exterior porches, while the third-floor two-bedroom unit features a large bathroom and skylight. Mechanical systems have been updated and maintained by the owner over a 48-year period.
Located at 364 Manchester St in Manchester, NH, the property occupies a corner lot with mature landscaping, a fenced yard, and on-site parking. The long-term owner occupancy and mix of one-, two-, and three-bedroom units provide a clearly defined multifamily layout for an owner-occupant or investor.
Located at 364 Manchester St in Manchester, NH, the property occupies a corner lot with mature landscaping, a fenced yard, and on-site parking. The long-term owner occupancy and mix of one-, two-, and three-bedroom units provide a clearly defined multifamily layout for an owner-occupant or investor.
Key Highlights
- Four‑unit quadplex with 3,857 square feet
- Unit mix includes one 3‑bedroom, two 1‑bedroom, and one 2‑bedroom residence
- Owner occupied for 48 years
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
$52,049
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
6.31%
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%
$1,040,980
$1.0M
Cap Rate 7%
$743,557
$743.6K
Cap Rate 9%
$578,322
$578.3K
Market Conditions
NOI Build-Up for 3,857 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
$78.7K $20.40/SF
− Vacancy
−$4.3K −$1.12/SF
EGI
$74.4K $19.28/SF
− OpEx
−$22.3K −$5.78/SF
NOI
$52.0K $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 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%
$1,040,980
Cap Rate 7%
$743,557
Cap Rate 9%
$578,322
Alternative Uses
Best Use
Multifamily LT 5
$743.6K
$650.6K – $867.5K
NOI $52,049 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$692.4K
$605.9K – $807.8K
NOI $48,469 @ 7.0% cap · market cap 5.88%
Theoretical Best
Specialty Retail
$947.2K
$828.8K – $1.11M
NOI $66,302 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,917
Businesses Nearby
Explore this area
Business Placement
Demographics for 03103, NH
38,039
Population
16,166
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
82%
High-School Grad
9.2 sq mi
ZIP Area
4,135
Density / Sq Mi
$70,049
Median Household Income
$41,243
Median Earnings
$1,322
Median Rent
$313,500
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?
Quadplex - Owner-occupied multifamily property with updated mechanical systems, varied unit layouts, landscaped grounds, and a fenced parking area.
Where is this quadplex located?
The property is located at 364 Manchester St Manchester, NH.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,857 square feet; Unit mix includes one 3‑bedroom, two 1‑bedroom, and one 2‑bedroom residence; Owner occupied for 48 years
