Three-Unit Multifamily
For Sale
$479,000
377 Manchester Street, Manchester, NH 03103
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 Market189
Property Features for 377 Manchester Street
General Information
Standard status
Active
Size
2,257 SF
Property subtype
Multi-Family
Zoning
MX-2
Building Details
Year Built
1890
Stories
2
Listing Agency:
Gray Property Group, LLC
Listed By:
Nick Gray
(603) 637-4812
Source:
Churchillprop
Added: Apr 1
Changed: Oct 1
Last Checked: Oct 5 at 4:16PM
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,457
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,140
$609.1K
Cap Rate 7%
$435,100
$435.1K
Cap Rate 9%
$338,411
$338.4K
Market Conditions
NOI Build-Up for 2,257 SF
Gross rent
$46.0K $20.40/SF
− Vacancy
−$2.5K −$1.12/SF
EGI
$43.5K $19.28/SF
− OpEx
−$13.1K −$5.78/SF
NOI
$30.5K $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%
$609,140
Cap Rate 7%
$435,100
Cap Rate 9%
$338,411
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 authorities.
Property Analytics
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Current Use
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
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
