Updated Duplex with Three-Story
New
For Sale
$450,000
47 Highland St, Ashland, NH 03217
Two residential units combine classic character with practical updates and an attached garage.
Property Size2,699 SF
Lot Size0.43 Acres
Price / SF$166.73
Days on Market3
Property Features for 47 Highland St
General Information
Standard status
Active
Size
2,699 SF
Lot size
0.43 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
three-story barn
electric vehicle charging station
split heating and cooling systems
sunroom
Building Details
Year Built
1910
Buildings
2
Units
2
Construction
New Englander
Listing Agency:
keller williams coastal realty
(603) 321-0061
Listed By:
Becky Bonardi
(603) 321-0061
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 15 at 8:01AM
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 keller williams coastal realty
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains approximately 2,699 square feet across a two-bedroom, one-bath unit and a three-bedroom, one-bath unit. The property retains classic New England character while incorporating split heating and cooling units, radiator-style bathroom heaters, and updated sunroom windows. A three-story barn adds substantial ancillary space and includes an electric vehicle charging station. Further barn uses or conversion of the home to a single-family residence would be subject to approvals.
The property occupies approximately 0.43 acres on a mostly level city lot with a paved driveway, attached one-car garage, direct entry, and storage above. Public water and sewer serve the property, and high-speed internet is available. The yard borders the backside of Ashland Elementary. Route 3 access, downtown Ashland, the Lakes Region, and the surrounding White Mountains are nearby, while the town beach on Little Squam Lake is a 5 minute drive away.
The property occupies approximately 0.43 acres on a mostly level city lot with a paved driveway, attached one-car garage, direct entry, and storage above. Public water and sewer serve the property, and high-speed internet is available. The yard borders the backside of Ashland Elementary. Route 3 access, downtown Ashland, the Lakes Region, and the surrounding White Mountains are nearby, while the town beach on Little Squam Lake is a 5 minute drive away.
Key Highlights
- Two‑unit layout with one 2‑bedroom, 1‑bath unit and one 3‑bedroom, 1‑bath unit
- Approximately 2,699 square feet on approximately 0.43 acres
- Three‑story updated barn with an electric vehicle charging station
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
$26,781
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
5.95%
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%
$535,620
$535.6K
Cap Rate 7%
$382,586
$382.6K
Cap Rate 9%
$297,567
$297.6K
Market Conditions
NOI Build-Up for 2,699 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
$40.5K $15.00/SF
− Vacancy
−$2.2K −$0.83/SF
EGI
$38.3K $14.17/SF
− OpEx
−$11.5K −$4.25/SF
NOI
$26.8K $9.92/SF
Area
Grafton County, NH
Vacancy
5.50%
Lease Rate
$15.00 /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%
$535,620
Cap Rate 7%
$382,586
Cap Rate 9%
$297,567
Alternative Uses
Best Use
Multifamily LT 5
$382.6K
$334.8K – $446.4K
NOI $26,781 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$350.5K
$306.7K – $409.0K
NOI $24,538 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$593.7K
$519.5K – $692.7K
NOI $41,559 @ 7.0% cap · market cap 9.24%
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
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 03217, NH
1,938
Population
1,340
Households
1.4
Avg Household Size
47
Median Age
32%
College-Educated
92%
High-School Grad
11.2 sq mi
ZIP Area
173
Density / Sq Mi
$54,495
Median Household Income
$37,099
Median Earnings
$1,129
Median Rent
$188,600
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 - Two residential units combine classic character with practical updates and an attached garage.
Where is this duplex located?
The property is located at 47 Highland St Ashland, NH.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit layout with one 2‑bedroom, 1‑bath unit and one 3‑bedroom, 1‑bath unit; Approximately 2,699 square feet on approximately 0.43 acres; Three‑story updated barn with an electric vehicle charging station
