Building Details

Building Size 1,583 SF

Year Built 1972

Buildings 1

Stories 2

Construction ranch

Listing Agency: Homes of New Hampshire Realty, LLC c***@homesofnhrealty.com Show Phone

Listed By: Cheryl Waitt

Source: Cjbarrett

Added: May 6 Changed: Aug 29 Last Checked: May 28 at 5:47AM

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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 Homes of New Hampshire Realty, LLC

Investment Insights

Based on property information with market context.

This duplex contains two first-floor ranch-style units, each benefiting from fresh paint and selected flooring updates. The lower level expands the property’s usable space with semi-finished rooms, a full bath, wet bar, cabinetry, and additional areas for recreation, office use, hobbies, workshops, or storage. It may also be possible to connect the lower level with one of the units.

Located at 414 Fremont Rd in Chester, the property sits near Route 101 and occupies over an acre with a large deck and private country surroundings. Built in 1972, the layout supports two-family living while offering additional interior space for customization.

Key Highlights

• Two first‑floor ranch‑style units
• Lower level includes semi‑finished rooms, a full bath, wet bar, and cabinetry
• Set on over an acre with a large deck

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

$26,668

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

5.33%

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%

$533,360 $533.4K

Cap Rate 7%

$380,971 $381.0K

Cap Rate 9%

$296,311 $296.3K

Market Conditions

NOI Build-Up for 1,583 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

$39.9K $25.20/SF

− Vacancy

−$1.8K −$1.13/SF

EGI

$38.1K $24.07/SF

− OpEx

−$11.4K −$7.22/SF

NOI

$26.7K $16.85/SF

Area

Rockingham County, NH

Vacancy

4.50%

Lease Rate

$25.20 /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%

$533,360

Cap Rate 7%

$380,971

Cap Rate 9%

$296,311

Alternative Uses

Best Use

Multifamily LT 5

$381.0K

$333.4K – $444.5K (±1% cap)

NOI $26,668 @ 7.0% cap · market cap 5.33%

Second Best

Apartment 5plus

$343.2K

$300.3K – $400.4K (±1% cap)

NOI $24,022 @ 7.0% cap · market cap 4.81%

Theoretical Best

Office A

$527.0K

$461.2K – $614.9K (±1% cap)

NOI $36,892 @ 7.0% cap · market cap 7.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Auto Repair Shop Furniture & Home Goods Bakery Carpet & Flooring Store Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

19

Businesses Nearby

Explore this area Business Placement

Demographics for 03036, NH

5,251

Population

1,911

Households

2.7

Avg Household Size

44

Median Age

43%

College-Educated

98%

High-School Grad

26.0 sq mi

ZIP Area

202

Density / Sq Mi

$138,606

Median Household Income

$59,733

Median Earnings

$479,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - First-floor units feature updated paint and flooring, complemented by flexible lower-level rooms and a full bath.

Where is this duplex located?

The property is located at 414 Fremont Rd Chester, NH.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Two first‑floor ranch‑style units; Lower level includes semi‑finished rooms, a full bath, wet bar, and cabinetry; Set on over an acre with a large deck