Two-Unit Duplex with
For Sale
$369,900
41 Union Street, Somersworth, NH 03878
Multi-Family, Somersworth, NH
Property Size2,022 SF
Lot Size0.16 Acres
Price / SF$182.94
Days on Market48
Property Features for 41 Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Rooms
Basement
Lot features
In Town
Directions
GPS Directions
Standard status
Active
Size
2,022 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5947
Utilities
Heating system
Oil, Steam
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Wood Frame, Aluminum Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
KW Coastal and Lakes & Mountains Realty · Keller Williams Realty
(603) 610-8500
Listed By:
Jeremiah Gordon
(603) 610-8500
Added: Jul 10
Changed: Aug 20
Last Checked: Aug 26 at 8:06AM
MLS# 5099160
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 two-unit duplex contains 2,022 square feet within a wood-frame structure built in 1900. Each residence includes 2 bedrooms and 1 bathroom, creating a straightforward configuration for rental or owner-occupant use. Separate utility systems serve the units, and the property includes a 2-car garage, basement, shingle roof, aluminum siding, oil heat, and steam heat. Public water serves the building.
The property occupies a 0.16-acre in-town lot at 41 Union Street in Somersworth, NH. R3 zoning supports its residential classification. The two-unit arrangement allows both residences to be leased or one unit to be occupied by the owner while the other is rented.
The property occupies a 0.16-acre in-town lot at 41 Union Street in Somersworth, NH. R3 zoning supports its residential classification. The two-unit arrangement allows both residences to be leased or one unit to be occupied by the owner while the other is rented.
Key Highlights
- Two‑unit duplex with 2,022 square feet
- Each unit has 2 bedrooms and 1 bathroom
- Separate utilities for the two residences
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
$20,526
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
5.55%
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%
$410,520
$410.5K
Cap Rate 7%
$293,229
$293.2K
Cap Rate 9%
$228,067
$228.1K
Market Conditions
NOI Build-Up for 2,022 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
$30.3K $15.00/SF
− Vacancy
−$1.0K −$0.50/SF
EGI
$29.3K $14.50/SF
− OpEx
−$8.8K −$4.35/SF
NOI
$20.5K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /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%
$410,520
Cap Rate 7%
$293,229
Cap Rate 9%
$228,067
Alternative Uses
Best Use
Multifamily LT 5
$293.2K
$256.6K – $342.1K
NOI $20,526 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$270.4K
$236.6K – $315.5K
NOI $18,931 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$540.9K
$473.3K – $631.1K
NOI $37,866 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 03878, NH
11,919
Population
5,722
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
95%
High-School Grad
9.8 sq mi
ZIP Area
1,216
Density / Sq Mi
$79,691
Median Household Income
$47,638
Median Earnings
$1,410
Median Rent
$295,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R3-zoned residential property with separate utilities and flexible owner-occupancy or rental use.
Where is this duplex located?
The property is located at 41 Union Street Somersworth, NH.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,022 square feet; Each unit has 2 bedrooms and 1 bathroom; Separate utilities for the two residences
