Duplex Property with Two
For Sale
$550,000
41 Linden Road, Conway, NH 03860
Multi-Family, Conway, NH
Property Size3,182 SF
Lot Size0.89 Acres
Price / SF$172.85
Days on Market147
Property Features for 41 Linden Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
RA
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Basement, Bathroom 2
Parking features
Garage, Driveway
Patio and Porch features
Patio, Porch
Exterior features
Partial Fence, Garden Space, Outbuilding, Patio, Greenhouse, Heated Porch
Fencing
Partial
Lot features
Country Setting, Level, Trail/ Near Trail
Elementary school
Lakeside Primary School
Middle school
A. Crosby Kennett Middle Sch
High school
A. Crosby Kennett Sr. High
Elementary school district
SAU #9
Middle school district
SAU #9
High school district
SAU #9
Directions
Westside Road to Dandiview to Linden on right, homes on right see sign
Standard status
Active
Size
3,182 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7878
Utilities
Utilities
Cable Available
Heating system
Propane (Heating), Wood
Cooling system
Central Air
Water source
Well
Amenities
central air
sunroom
fireplace
garage
greenhouse
garden space
large patio
sheds
laundry
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet, Vinyl
Building materials
Wood Frame
Roof type
Shingle, Metal
Architectural style
Ranch
Additional Structures
Greenhouse, Outbuilding
Listing Agency:
Badger Peabody & Smith Realty
(603) 356-5757
Listed By:
Jeana Hale-Dewitt
(603) 444-1294
Added: Apr 6
Changed: Aug 20
Last Checked: Aug 30 at 1:06PM
MLS# 5082695
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.
Investment Insights
Based on property information with market context.
This duplex property includes two separate residences on a level 0.89-acre lot in Conway. The primary home provides 2 bedrooms, 1.5 baths, a sunroom, open living space with a fireplace, central air, first-floor laundry, and a full basement. The second residence has 2 bedrooms, 1 full bath, high ceilings, laundry facilities, and substantial storage. The property also includes a garage, greenhouse, garden area, patio, sheds, and a private paved driveway serving the second home.
Built in 1965 with wood-frame construction, the property has a ranch-style design, partial fencing, shingle and metal roofing, propane and wood heating, and a well water source. It is located just off West Side Road, with shopping, dining, Echo Lake State Park, and Cranmore Mountain Resort identified nearby. Zoning is RA.
Built in 1965 with wood-frame construction, the property has a ranch-style design, partial fencing, shingle and metal roofing, propane and wood heating, and a well water source. It is located just off West Side Road, with shopping, dining, Echo Lake State Park, and Cranmore Mountain Resort identified nearby. Zoning is RA.
Key Highlights
- Two residences on a level 0.89‑acre parcel
- Primary home includes 2 bedrooms, 1.5 baths, sunroom, fireplace, central air, laundry, and full basement
- Second home offers 2 bedrooms, 1 full bath, high ceilings, laundry, and substantial storage
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
$37,013
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
6.73%
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%
$740,260
$740.3K
Cap Rate 7%
$528,757
$528.8K
Cap Rate 9%
$411,256
$411.3K
Market Conditions
NOI Build-Up for 3,182 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
$55.4K $17.40/SF
− Vacancy
−$2.5K −$0.78/SF
EGI
$52.9K $16.62/SF
− OpEx
−$15.9K −$4.99/SF
NOI
$37.0K $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%
$740,260
Cap Rate 7%
$528,757
Cap Rate 9%
$411,256
Alternative Uses
Best Use
Multifamily LT 5
$528.8K
$462.7K – $616.9K
NOI $37,013 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$467.8K
$409.3K – $545.8K
NOI $32,746 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$794.5K
$695.2K – $927.0K
NOI $55,617 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 03860, NH
3,910
Population
3,169
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
95%
High-School Grad
23.2 sq mi
ZIP Area
169
Density / Sq Mi
$81,771
Median Household Income
$45,915
Median Earnings
$1,094
Median Rent
$328,500
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 - Two residences occupy a level parcel with separate laundry areas and independent driveway access.
Where is this duplex located?
The property is located at 41 Linden Road Conway, NH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two residences on a level 0.89‑acre parcel; Primary home includes 2 bedrooms, 1.5 baths, sunroom, fireplace, central air, laundry, and full basement; Second home offers 2 bedrooms, 1 full bath, high ceilings, laundry, and substantial storage
