Two-Unit Property with
For Sale
Under Contract
$499,000
455 Bridge Street, Manchester, NH 03104
Multi-Family, Manchester, NH
Property Size2,230 SF
Lot Size0.21 Acres
Price / SF$223.77
Days on Market49
Property Features for 455 Bridge Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2 Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Basement
Parking features
Garage, Off Street
Patio and Porch features
Porch
Exterior features
Garden Space, Enclosed Porch
Appliances
Electric Water Heater
Lot features
Corner, Near Country Club, Near Golf Course
Elementary school
McDonough School
Middle school
Hillside Middle School
High school
Manchester Central High Sch
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Directions
Exit 8 off I-93, bear east off ramp onto Bridge Street, house is at corner of Weston and Bridge Streets, right across from Derryfield Park.
Standard status
Active Under Contract
Size
2,230 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7023
Utilities
Heating system
Oil, Hot Water(Heating), Electric (Heating)
Water source
Public
Amenities
garden space
garage
laundry
generator hook-up
fireplace
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Softwood, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Greg Powers
(603) 232-8282
Added: Jul 9
Changed: Aug 20
Last Checked: Aug 26 at 5:06AM
MLS# 5099039
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.
This 2,230-square-foot duplex occupies a 0.21-acre lot and dates to 1900. Each floor contains a two-bedroom unit with its own laundry, generator hook-up, heating system, and 200 amp electric panel. The first-floor unit includes hardwood and softwood flooring, natural woodwork, and a fireplace mantle. Additional features include an enclosed porch, garden space, basement, two-car garage, and off-street parking with room for vehicle turnaround.
The property is located at 455 Bridge Street in Manchester, across from Derryfield Park, which offers playgrounds, ball fields, tennis courts, workout stations, and open field space. Derryfield Country Club, Trinity High School, and Jerome's Deli are nearby, while I-93 is a couple of blocks away. The property has R-2 Residential zoning, a shingle roof installed about a year ago, and an approximately 6-year-old boiler that is serviced annually.
The property is located at 455 Bridge Street in Manchester, across from Derryfield Park, which offers playgrounds, ball fields, tennis courts, workout stations, and open field space. Derryfield Country Club, Trinity High School, and Jerome's Deli are nearby, while I-93 is a couple of blocks away. The property has R-2 Residential zoning, a shingle roof installed about a year ago, and an approximately 6-year-old boiler that is serviced annually.
Key Highlights
- 2,230‑square‑foot duplex on a 0.21‑acre lot
- Two‑bedroom unit on each floor, with separate laundry and generator hook‑up
- Two‑car garage plus off‑street parking and vehicle turnaround area
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
$30,093
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
6.03%
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%
$601,860
$601.9K
Cap Rate 7%
$429,900
$429.9K
Cap Rate 9%
$334,367
$334.4K
Market Conditions
NOI Build-Up for 2,230 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
$45.5K $20.40/SF
− Vacancy
−$2.5K −$1.12/SF
EGI
$43.0K $19.28/SF
− OpEx
−$12.9K −$5.78/SF
NOI
$30.1K $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%
$601,860
Cap Rate 7%
$429,900
Cap Rate 9%
$334,367
Alternative Uses
Best Use
Multifamily LT 5
$429.9K
$376.2K – $501.6K
NOI $30,093 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$400.3K
$350.3K – $467.1K
NOI $28,023 @ 7.0% cap · market cap 5.62%
Theoretical Best
Specialty Retail
$547.6K
$479.2K – $638.9K
NOI $38,334 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Explore this area
Business Placement
Demographics for 03104, NH
34,324
Population
15,715
Households
2.2
Avg Household Size
38
Median Age
43%
College-Educated
94%
High-School Grad
8.3 sq mi
ZIP Area
4,135
Density / Sq Mi
$84,513
Median Household Income
$48,513
Median Earnings
$1,455
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - R-2 Residential zoning accompanies a two-level, two-bedroom-per-unit layout.
Where is this duplex located?
The property is located at 455 Bridge Street Manchester, NH.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,230‑square‑foot duplex on a 0.21‑acre lot; Two‑bedroom unit on each floor, with separate laundry and generator hook‑up; Two‑car garage plus off‑street parking and vehicle turnaround area
