Two-Family Duplex with
For Sale
$525,000
440 Gold Street, Manchester, NH 03103
MULTI_FAMILY - Other - Manchester, NH
Property Size1,432 SF
Lot Size0.23 Acres
Price / SF$366.62
Days on Market68
Property Features for 440 Gold Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Rooms
Basement
Lot features
Near Shopping
Standard status
Active
Size
1,432 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6201
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Michael Caouette
(603) 232-8282
Added: Jun 8
Changed: Aug 14
Last Checked: Aug 14 at 8:06PM
MLS# 5093388
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.
Located at 440 Gold Street in Manchester, this two-family duplex offers 1,432 square feet of residential space on a 0.23-acre lot. The property includes a basement and was built in 1945, providing a clearly defined multifamily configuration for residential use.
Exterior and infrastructure details include vinyl siding, a shingle roof, natural gas heating, public water, and cable availability. The property is identified as residentially zoned and includes two dwelling units within the duplex structure.
Exterior and infrastructure details include vinyl siding, a shingle roof, natural gas heating, public water, and cable availability. The property is identified as residentially zoned and includes two dwelling units within the duplex structure.
Key Highlights
- Two‑family duplex with 1,432 square feet of property size
- 0.23‑acre lot in Manchester, NH
- Residential zoning
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
$19,324
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
3.68%
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%
$386,480
$386.5K
Cap Rate 7%
$276,057
$276.1K
Cap Rate 9%
$214,711
$214.7K
Market Conditions
NOI Build-Up for 1,432 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
$29.2K $20.40/SF
− Vacancy
−$1.6K −$1.12/SF
EGI
$27.6K $19.28/SF
− OpEx
−$8.3K −$5.78/SF
NOI
$19.3K $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 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%
$386,480
Cap Rate 7%
$276,057
Cap Rate 9%
$214,711
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.1K
NOI $19,324 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$257.1K
$224.9K – $299.9K
NOI $17,995 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$351.7K
$307.7K – $410.3K
NOI $24,616 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
374
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
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 - Residentially zoned property with natural gas heat, public water, and vinyl siding.
Where is this duplex located?
The property is located at 440 Gold Street Manchester, NH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑family duplex with 1,432 square feet of property size; 0.23‑acre lot in Manchester, NH; Residential zoning
