Remodeled Duplex with Detached
New
For Sale
$575,000
373 Bartlett Street, Manchester, NH 03102
Multi-Family, Manchester, NH
Property Size3,096 SF
Lot Size0.11 Acres
Price / SF$185.72
Days on Market1
Property Features for 373 Bartlett Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
mx-1 mixed use
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bathroom 2, Bedroom 3
Parking features
Driveway
Lot features
City Lot, Level, Near Shopping, Neighborhood, Near Public Transport
Elementary school
Gossler Park Elementary School
Middle school
Middle School at Parkside
High school
Manchester West High School
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Standard status
Active
Size
3,096 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6887
Utilities
Heating system
Forced Air, Oil
Water source
Public
Amenities
sunroom
screened porch
laundry hookup
off-street parking
detached garage
separate utilities
multiple electric meters
public water
public sewer
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Amanda Plecinoga
(603) 232-8282
Added: Aug 28
Last Checked: Aug 28 at 7:06PM
MLS# 5107153
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,096-square-foot duplex sits on a 0.11-acre level lot and includes two residential units. The first-floor residence provides single-level living with a sunroom, while the upper residence occupies the second and third floors and includes multiple living areas, a screened porch, and laundry hookups. Interior updates include new flooring, neutral paint, modernized kitchens, and refreshed bathrooms. The finished third floor is scheduled for professional painting by the seller before closing.
The property includes separate utilities, multiple electric meters, public water and sewer, driveway parking, and a detached garage with storage areas. Both units are vacant, allowing the next owner to determine occupancy and leasing plans. Located in Manchester near shopping, public transportation, commuter routes, and everyday services, the property is zoned MX-1 mixed use and was constructed in 1890 with wood-frame construction and a shingle roof.
The property includes separate utilities, multiple electric meters, public water and sewer, driveway parking, and a detached garage with storage areas. Both units are vacant, allowing the next owner to determine occupancy and leasing plans. Located in Manchester near shopping, public transportation, commuter routes, and everyday services, the property is zoned MX-1 mixed use and was constructed in 1890 with wood-frame construction and a shingle roof.
Key Highlights
- 3,096‑square‑foot duplex on a 0.11‑acre level lot
- Two vacant residential units with separate utilities and multiple electric meters
- First‑floor unit includes a sunroom and single‑level layout
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
$41,779
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
7.27%
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%
$835,580
$835.6K
Cap Rate 7%
$596,843
$596.8K
Cap Rate 9%
$464,211
$464.2K
Market Conditions
NOI Build-Up for 3,096 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
$63.2K $20.40/SF
− Vacancy
−$3.5K −$1.12/SF
EGI
$59.7K $19.28/SF
− OpEx
−$17.9K −$5.78/SF
NOI
$41.8K $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%
$835,580
Cap Rate 7%
$596,843
Cap Rate 9%
$464,211
Alternative Uses
Best Use
Multifamily LT 5
$596.8K
$522.2K – $696.3K
NOI $41,779 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$555.8K
$486.3K – $648.4K
NOI $38,906 @ 7.0% cap · market cap 6.77%
Theoretical Best
Specialty Retail
$760.3K
$665.3K – $887.0K
NOI $53,220 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
908
Businesses Nearby
Explore this area
Business Placement
Demographics for 03102, NH
33,396
Population
15,264
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
9.1 sq mi
ZIP Area
3,670
Density / Sq Mi
$69,927
Median Household Income
$43,518
Median Earnings
$1,533
Median Rent
$309,400
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 - Two vacant units feature updated interiors, separate utilities, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 373 Bartlett Street Manchester, NH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,096‑square‑foot duplex on a 0.11‑acre level lot; Two vacant residential units with separate utilities and multiple electric meters; First‑floor unit includes a sunroom and single‑level layout
