Two-Unit Colonial
For Sale
$515,000
38 Riddle Street, Manchester, NH 03102
Multi-Family, Manchester, NH
Property Size1,728 SF
Lot Size0.14 Acres
Price / SF$298.03
Days on Market49
Property Features for 38 Riddle Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2
Lot features
City Lot
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
1,728 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5890
Utilities
Heating system
Steam, Oil
Water source
Public
Amenities
deck
backyard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty-Metropolitan
Listed By:
Kelly Erwin
(603) 232-8282
Added: Sep 5
Changed: Oct 23
Last Checked: Oct 23 at 5:06PM
MLS# 5108466
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.
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Investment Insights
Based on property information with market context.
This two-unit residential property occupies a 0.14-acre city lot and provides approximately 1,728 square feet of living space. Built in 1900 with wood-frame construction, the Colonial-style home includes hardwood and tile flooring, abundant windows, a basement, two bathrooms, and three bedrooms. Oil-fired steam heat and a shingle roof are also in place.
Outdoor features include a deck, backyard, and off-street parking. The property is served by public water and sewer and is located near downtown Manchester, shopping, restaurants, major highways, and local amenities. Its two-unit configuration offers flexibility for an owner-occupant or an investment property.
Outdoor features include a deck, backyard, and off-street parking. The property is served by public water and sewer and is located near downtown Manchester, shopping, restaurants, major highways, and local amenities. Its two-unit configuration offers flexibility for an owner-occupant or an investment property.
Key Highlights
- Two‑unit residential property with approximately 1,728 square feet of living space
- Situated on a 0.14‑acre city lot
- Built in 1900 with wood‑frame construction and Colonial‑style design
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,319
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,380
$466.4K
Cap Rate 7%
$333,129
$333.1K
Cap Rate 9%
$259,100
$259.1K
Market Conditions
NOI Build-Up for 1,728 SF
Gross rent
$35.3K $20.40/SF
− Vacancy
−$1.9K −$1.12/SF
EGI
$33.3K $19.28/SF
− OpEx
−$10.0K −$5.78/SF
NOI
$23.3K $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%
$466,380
Cap Rate 7%
$333,129
Cap Rate 9%
$259,100
Alternative Uses
Best Use
Multifamily LT 5
$333.1K
$291.5K – $388.7K
NOI $23,319 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$310.2K
$271.4K – $361.9K
NOI $21,715 @ 7.0% cap · market cap 4.22%
Theoretical Best
Specialty Retail
$424.3K
$371.3K – $495.1K
NOI $29,704 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
551
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Wood-frame duplex with public water and sewer, outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 38 Riddle Street Manchester, NH.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two‑unit residential property with approximately 1,728 square feet of living space; Situated on a 0.14‑acre city lot; Built in 1900 with wood‑frame construction and Colonial‑style design
