6-Unit Apartment
406 Belmont St, Manchester, NH 03103
For Sale
$850,000
Renovated one-bedroom apartments and a studio are served by paved off-street parking and updated building systems.
Property Size3,348 SF
Price / SF$253.88
Days on Market47
Property Features for 406 Belmont St
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Parking per Unit
Building Details
Year Built
Listing Agency:
Downtown Realty
Listed By:
Matthew Lefebvre · License #NH 070207
(603) 932-3011
Source:
603propertygroup
Added: Sep 24
Changed: Oct 26
Last Checked: Nov 8 at 8:20AM
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 Downtown Realty
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Investment Insights
Based on property information with market context.
Built in 1920, this 3,348-square-foot apartment building contains five one-bedroom units and one studio. The five one-bedroom apartments have updated kitchens, appliances, fixtures, and a mix of refinished hardwood and vinyl plank flooring. The studio has not been renovated and is occupied by a long-term resident. Building improvements include vinyl siding, replacement front decks, a new natural gas water heater, and electrical service with individual 100-amp panels.
All six apartments are occupied. The property includes six paved, off-street parking spaces behind the building. The owner pays for heat, hot water, and water and sewer; residents pay their own electric service.
All six apartments are occupied. The property includes six paved, off-street parking spaces behind the building. The owner pays for heat, hot water, and water and sewer; residents pay their own electric service.
Key Highlights
- Six occupied apartments: five one‑bedroom units and one studio
- 3,348 square feet; built in 1920
- Six paved off‑street parking spaces behind the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,072
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$841,440
$841.4K
Cap Rate 7%
$601,029
$601.0K
Cap Rate 9%
$467,467
$467.5K
Market Conditions
NOI Build-Up for 3,348 SF
Gross rent
$80.4K $24.00/SF
− Vacancy
−$3.9K −$1.15/SF
EGI
$76.5K $22.85/SF
− OpEx
−$34.4K −$10.28/SF
NOI
$42.1K $12.57/SF
Area
Manchester, NH
Vacancy
4.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$841,440
Cap Rate 7%
$601,029
Cap Rate 9%
$467,467
Alternative Uses
Best Use
Apartment 5plus
$601.0K
$525.9K – $701.2K
NOI $42,072 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$822.2K
$719.4K – $959.2K
NOI $57,552 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,633
Businesses Nearby
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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
$313,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Manchester, NH
Properties on Market for Apartment buildings in Manchester
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated one-bedroom apartments and a studio are served by paved off-street parking and updated building systems.
Where is this apartment building located?
The property is located at 406 Belmont St Manchester, NH.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Six occupied apartments: five one‑bedroom units and one studio; 3,348 square feet; built in 1920; Six paved off‑street parking spaces behind the building
