Manchester Triplex: Investment Opportunity

424 Cedar St, Manchester, NH 03103

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For Sale

$635,000

Well-maintained 3-unit multi-family near downtown Manchester.

Type:Investment

Property size:

3,960 SF

Price / SF:

$160/SF

HighLights

Prime location: Walker's Paradise with a walk score of 91, moments from downtown dining, shopping, and local amenities.
Value‑add opportunity: Potential to maximize rental income through renovations and strategic improvements.
Three spacious units: Each unit features a 3‑bedroom/1‑bath floor plan with approximately 1,320 sq. ft. of living space.
Income potential: Multi‑family property suitable for investors or owner‑occupants looking to house‑hack.
Practical amenities: Dedicated storage for each unit and shared laundry in the basement.
Off‑street parking: Includes 2 off‑street parking spots.

We can help!

Listing Contact

Andrew Schweihs

Learn more

For Sale

$635,000

Well-maintained 3-unit multi-family near downtown Manchester.

Type:Investment

Property size:

3,960 SF

Price / SF:

$160/SF

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 4:43 pm

Property Features for 424 Cedar St

General Information

Standard status: Active
Size: 3,960 SF
Property subtype: Investment

Building Details

Year Built: 1903

We can help!

Listing Contact

Andrew Schweihs

Listing agent Andrew Schweihs

Listing office

Listing date Apr 24, 2026

Source Elliman

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 Andrew Schweihs

HighLights

Prime location: Walker's Paradise with a walk score of 91, moments from downtown dining, shopping, and local amenities.
Value‑add opportunity: Potential to maximize rental income through renovations and strategic improvements.
Three spacious units: Each unit features a 3‑bedroom/1‑bath floor plan with approximately 1,320 sq. ft. of living space.
Income potential: Multi‑family property suitable for investors or owner‑occupants looking to house‑hack.
Practical amenities: Dedicated storage for each unit and shared laundry in the basement.
Off‑street parking: Includes 2 off‑street parking spots.

Overview

Located in the heart of Manchester, this well-maintained 3-unit multi-family property at 424 Cedar St presents an opportunity for investors and owner-occupants. Each of the three expansive units features a 3-bedroom, 1-bath floor plan, offering approximately 1,320 sq. ft. of living space per floor. This property offers a value-add opportunity for maximizing rental income. Each unit includes dedicated storage. The concrete basement houses a shared washer and dryer and is plumbed for additional hook-ups. The property is situated moments from downtown dining, shopping, and local amenities. It also includes 2 off-street parking spots. The property is located in a Walker's Paradise with a walk score of 91, and is somewhat bikeable with a bike score of 37. All current tenants are month to month.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$80.8k	$20.40
− Vacancy	−$4.4k	−$1.12
EGI	$76.3k	$19.28
− OpEx	−$22.9k	−$5.78
NOI	$53.4k	$13.49

3,960 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$763.4K

$668.0K – $890.7K (±1% cap)

NOI $53,439 @ 7.0% cap · market cap 8.42%

Second Best

Apartment 5plus

$710.9K

$622.0K – $829.4K (±1% cap)

NOI $49,763 @ 7.0% cap · market cap 7.84%

Theoretical Best

Specialty Retail

$972.5K

$850.9K – $1.13M (±1% cap)

NOI $68,072 @ 7.0% cap · market cap 10.72%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Manchester
County: Merrimack
State: New Hampshire
Longitude: -71.4511966
Latitude: 42.9860092

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For sale
Triplexes
NH
Manchester
03103
424 Cedar St

What type of property is this?

Triplex - Well-maintained 3-unit multi-family near downtown Manchester.

Where is this triplex located?

The property is located at 424 Cedar St Manchester, NH.

What is the asking price?

The asking price for this property is $635,000.

What are key features of this property?

This property features: Prime location: Walker's Paradise with a walk score of 91, moments from downtown dining, shopping, and local amenities.; Value‑add opportunity: Potential to maximize rental income through renovations and strategic improvements.; Three spacious units: Each unit features a 3‑bedroom/1‑bath floor plan with approximately 1,320 sq. ft. of living space.