Well-Maintained Duplex in Wakefield,
For Sale
$549,900
38 - 40 Cedar ST, Wakefield, NH 03872
Spacious duplex with separate utilities and private basements.
Property Size2,080 SF
Price / SF$264.38
Days on Market128
Property Features for 38 - 40 Cedar ST
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Zoning
V/RWS
Building Details
Building Size
2,080 SF
Year Built
2005
Stories
2
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Wolfeboro
(603) 610-8500
Listed By:
Amy Taatjes
Source:
Hometown-team
Added: Apr 21
Changed: Aug 23
Last Checked: Jul 23 at 9:57AM
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 KW Coastal and Lakes & Mountains Realty/Wolfeboro
Investment Insights
Based on property information with market context.
This well-maintained duplex in Wakefield, NH, presents an opportunity for investment or owner-occupancy. The property features two units, each containing 2 bedrooms and 1.5 bathrooms. Each unit has separate utilities and a private basement. Outdoor living is facilitated by private decks, which overlook a large, shared backyard suitable for relaxation and entertaining. The property is located within walking distance of downtown restaurants, shopping, the town beach, and the rail trail. Commuting is made convenient by easy access to Route 16.
Key Highlights
- Two well‑maintained, 2‑bedroom, 1.5‑bath units perfect for owner‑occupancy or investment.
- Separate utilities and private basements for each unit.
- Convenient location: walk to downtown restaurants, shopping, town beach, and rail trail.
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
$24,194
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
4.40%
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%
$483,880
$483.9K
Cap Rate 7%
$345,629
$345.6K
Cap Rate 9%
$268,822
$268.8K
Market Conditions
NOI Build-Up for 2,080 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
$36.2K $17.40/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$34.6K $16.62/SF
− OpEx
−$10.4K −$4.99/SF
NOI
$24.2K $11.63/SF
Area
Carroll County, NH
Vacancy
4.50%
Lease Rate
$17.40 /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%
$483,880
Cap Rate 7%
$345,629
Cap Rate 9%
$268,822
Alternative Uses
Best Use
Multifamily LT 5
$345.6K
$302.4K – $403.2K
NOI $24,194 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$305.8K
$267.6K – $356.8K
NOI $21,405 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$519.4K
$454.5K – $605.9K
NOI $36,356 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 03872, NH
3,981
Population
2,435
Households
1.6
Avg Household Size
51
Median Age
33%
College-Educated
97%
High-School Grad
52.0 sq mi
ZIP Area
77
Density / Sq Mi
$91,563
Median Household Income
$65,668
Median Earnings
$950
Median Rent
$319,900
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 - Spacious duplex with separate utilities and private basements.
Where is this duplex located?
The property is located at 38 - 40 Cedar ST Wakefield, NH.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two well‑maintained, 2‑bedroom, 1.5‑bath units perfect for owner‑occupancy or investment.; Separate utilities and private basements for each unit.; Convenient location: walk to downtown restaurants, shopping, town beach, and rail trail.
