Legal 2-Unit Home with
42 Gilford Avenue Laconia, NH 03246
Two separate units plus workshop and storage spaces, offering flexibility for owner-occupants or income-focused owners.
Type:Multi-family
Property size:
3,388 SFPrice / SF:
$176/SF- Added:
- May 3, 2026
- Days on Market:
- 71
- Last Refresh:
- Jun 21 at 1:53 am
Property Features for 42 Gilford Avenue
General Information
- Standard status
- Active
- Size
- 3,388 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1780
Listing office Starr Realty
Listing date May 3, 2026
Source Bigislandre
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 Starr Realty
Investment Insights
Based on property information with market context.
This legal 2-unit residential income property offers 3,388 sq. ft. of finished living space across 1.75 stories. The home maintains original character, including wide floors and wood fireplaces, while featuring updates such as vinyl plank flooring, a kitchen island, a wine cooler, and first-floor laundry. The layout totals five bedrooms and four bathrooms, including one full and three three-quarter baths. Two separate workshop/storage areas add practical utility beyond the main living spaces.
Outside, the property sits on nearly 0.48 acres with a generously sized deck, full fencing, and garden space. There are two street entrances/exits and a paved driveway with plenty of parking for tenants, guests, or work vehicles. Nearby conveniences include the hospital, grocery stores, big-box hardware, and downtown shops in the Lakes Region.
The configuration supports an owner-occupant approach with an in-law suite already in place, while the second unit and the separate workshop/storage spaces can support income use as well. Any non-residential use would need to be evaluated under local requirements, but the property’s two-unit setup and flexible outbuilding/storage components make it a strong candidate for buyers seeking versatility.
Outside, the property sits on nearly 0.48 acres with a generously sized deck, full fencing, and garden space. There are two street entrances/exits and a paved driveway with plenty of parking for tenants, guests, or work vehicles. Nearby conveniences include the hospital, grocery stores, big-box hardware, and downtown shops in the Lakes Region.
The configuration supports an owner-occupant approach with an in-law suite already in place, while the second unit and the separate workshop/storage spaces can support income use as well. Any non-residential use would need to be evaluated under local requirements, but the property’s two-unit setup and flexible outbuilding/storage components make it a strong candidate for buyers seeking versatility.
Key Highlights
- Built in 1780 by Jacob Jewett with original character including wide floors and wood fireplaces
- 3,388 sq. ft. finished living space across 1.75 stories with 5 bedrooms and 4 bathrooms (1 full, 3 three‑quarter)
- Legal 2‑unit property with two separate workshop/storage areas plus an in‑law suite setup
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.2k | $21.60 |
| − Vacancy | −$2.6k | −$0.76 |
| EGI | $70.6k | $20.84 |
| − OpEx | −$21.2k | −$6.25 |
| NOI | $49.4k | $14.59 |
3,388 SF · lease $21.60/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$706.2K
$617.9K – $823.9K
NOI $49,434 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$649.4K
$568.2K – $757.6K
NOI $45,455 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$805.7K
$705.0K – $940.0K
NOI $56,398 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate units plus workshop and storage spaces, offering flexibility for owner-occupants or income-focused owners.
Where is this duplex located?
The property is located at 42 Gilford Avenue Laconia, NH.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Built in 1780 by Jacob Jewett with original character including wide floors and wood fireplaces; 3,388 sq. ft. finished living space across 1.75 stories with 5 bedrooms and 4 bathrooms (1 full, 3 three‑quarter); Legal 2‑unit property with two separate workshop/storage areas plus an in‑law suite setup
