Three-Unit Multifamily
377 Manchester Street Manchester, NH 03103
377 Manchester Street, Manchester, NH, 03103
$479,000
For Sale
$479,000
Well-maintained triplex with three separately metered one-bedroom units and off-street parking for three vehicles.
Property Size2,257 SF
Price / SF$212.23
Days on Market126
Property Features for 377 Manchester Street
General Information
- Standard status
- Active
- Size
- 2,257 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1890
Listing agency
Gray Property Group,LLC
Listed by
Nick Gray
(617) 510-4783
Source
Lakesregionrealestate
Added: Mar 19 Updated: Jul 21 at 4:32AM Checked: Jul 22 at 7:50AM
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 Gray Property Group,LLC
Investment Insights
Based on property information with market context.
This well-maintained three-unit multifamily property includes three one-bedroom units with functional, serviceable interiors. Each unit is separately metered, with tenants responsible for natural gas for heat and electricity for hot water, lights, and plugs. The landlord covers water and sewer. Off-street parking is provided for three vehicles, with additional street parking available.
The property is located on the East Side of Manchester. It also presents an option to purchase as part of a larger 9-unit package opportunity that includes two adjacent multifamily properties at 379 and 383 Manchester Street (three units each), with a contiguous lot and shared off-street parking that totals roughly 9–10 spaces across the package.
As an individual asset, the configuration supports in-place occupancy with a straightforward management structure given the separate metering and clearly assigned utilities.
The property is located on the East Side of Manchester. It also presents an option to purchase as part of a larger 9-unit package opportunity that includes two adjacent multifamily properties at 379 and 383 Manchester Street (three units each), with a contiguous lot and shared off-street parking that totals roughly 9–10 spaces across the package.
As an individual asset, the configuration supports in-place occupancy with a straightforward management structure given the separate metering and clearly assigned utilities.
Key Highlights
- 1890‑built 3‑unit multifamily (triplex) featuring three 1‑bedroom units with functional layouts
- Each unit has separate metering; tenants pay natural gas (heat) and electricity (hot water, lights, and plugs)
- Landlord pays water and sewer
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.0k | $20.40 |
| − Vacancy | −$2.5k | −$1.12 |
| EGI | $43.5k | $19.28 |
| − OpEx | −$13.1k | −$5.78 |
| NOI | $30.5k | $13.49 |
2,257 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$435.1K
$380.7K – $507.6K
NOI $30,457 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$405.2K
$354.5K – $472.7K
NOI $28,362 @ 7.0% cap · market cap 5.92%
Theoretical Best
Specialty Retail
$554.3K
$485.0K – $646.6K
NOI $38,798 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained triplex with three separately metered one-bedroom units and off-street parking for three vehicles.
Where is this triplex located?
The property is located at 377 Manchester Street Manchester, NH.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 1890‑built 3‑unit multifamily (triplex) featuring three 1‑bedroom units with functional layouts; Each unit has separate metering; tenants pay natural gas (heat) and electricity (hot water, lights, and plugs); Landlord pays water and sewer
