Three-Family Residential Income
For Sale
$750,000
421 Laurel Street, Manchester, NH 03103
Well-maintained three-unit multifamily on a city lot with off-street parking and a backyard.
Property Size4,096 SF
Price / SF$183.11
Days on Market112
Property Features for 421 Laurel Street
General Information
Standard status
Active
Size
4,096 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Year Renovated
1983
Stories
3
Tenancy
Multi
Listing Agency:
Coldwell Banker Classic Realty
Listed By:
Michelle Gannon
(603) 647-5718
Source:
Hgjohnsonrealestate
Added: Jun 21
Changed: Oct 10
Last Checked: Oct 10 at 1:14AM
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 Coldwell Banker Classic Realty
Investment Insights
Based on property information with market context.
This well-maintained three-family residential income property offers approximately 4,900 square feet of living space across three levels. Built in 1900 with a remodel date of 1983, the layout provides one unit on each floor. The first-floor unit includes 3 bedrooms plus additional finished lower-level space, while the upper units each offer spacious 3-bedroom layouts. The property has received updates over the years and includes off-street parking and a backyard for outdoor use.
Located in Manchester, the property offers convenient access to downtown Manchester, schools, shopping, dining, and major commuter routes. The home is situated on a city lot.
Scheduled showings are Thursday, June 25th from 2:00 PM to 4:00 PM.
Located in Manchester, the property offers convenient access to downtown Manchester, schools, shopping, dining, and major commuter routes. The home is situated on a city lot.
Scheduled showings are Thursday, June 25th from 2:00 PM to 4:00 PM.
Key Highlights
- Three‑family multifamily built in 1900 with remodel date of 1983
- Approximately 4,900 SF total living space with one unit on each floor
- Each unit offers a spacious 3‑bedroom layout, with the first‑floor unit also including additional finished lower‑level space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,274
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,480
$1.1M
Cap Rate 7%
$789,629
$789.6K
Cap Rate 9%
$614,156
$614.2K
Market Conditions
NOI Build-Up for 4,096 SF
Gross rent
$83.6K $20.40/SF
− Vacancy
−$4.6K −$1.12/SF
EGI
$79.0K $19.28/SF
− OpEx
−$23.7K −$5.78/SF
NOI
$55.3K $13.49/SF
Area
Manchester, NH
Vacancy
5.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,480
Cap Rate 7%
$789,629
Cap Rate 9%
$614,156
Alternative Uses
Best Use
Multifamily LT 5
$789.6K
$690.9K – $921.2K
NOI $55,274 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$735.3K
$643.4K – $857.9K
NOI $51,472 @ 7.0% cap · market cap 6.86%
Theoretical Best
Specialty Retail
$1.01M
$880.1K – $1.17M
NOI $70,410 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-unit multifamily on a city lot with off-street parking and a backyard.
Where is this triplex located?
The property is located at 421 Laurel Street Manchester, NH.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑family multifamily built in 1900 with remodel date of 1983; Approximately 4,900 SF total living space with one unit on each floor; Each unit offers a spacious 3‑bedroom layout, with the first‑floor unit also including additional finished lower‑level space
