Duplex with Three-Story
For Sale
Under Contract
$450,000
47 Highland Street, Ashland, NH 03217
Multi-Family, Ashland, NH
Property Size2,699 SF
Lot Size0.43 Acres
Price / SF$166.73
Days on Market37
Property Features for 47 Highland Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Basement, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Parking features
Driveway, Garage
Patio and Porch features
Porch
Exterior features
Garden Space, Natural Shade, Porch, Covered Porch, Enclosed Porch, Shed, Storage
Lot features
Rolling
Directions
From Route 3 in Ashland, turn onto Highland Street near Meredith Village Savings Bank. Continue on Highland Street; 47 Highland Street will be on the left.
Standard status
Active Under Contract
Size
2,699 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
6160
Utilities
Utilities
Cable Available
Heating system
Other (Heating), Ductless (Heating), Electric (Heating)
Cooling system
Zoned, Ductless
Water source
Public
Amenities
electric vehicle charger
sunroom
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Softwood, Vinyl
Building materials
Wood Frame, Asbestos Exterior
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith · Keller Williams Realty
(603) 569-4663
Listed By:
Becky Bonardi
(603) 610-8500
Added: Aug 12
Changed: Sep 16
Last Checked: Sep 17 at 2:06PM
MLS# 5104534
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 1910 duplex at 47 Highland Street contains approximately 2,699 square feet and is arranged as two apartments: one with 2 bedrooms and 1 bathroom, and another with 3 bedrooms and 1 bathroom. The property also includes a three-story barn with an electric vehicle charging station, an attached one-car garage with direct entry and upper storage, a paved driveway, and an enclosed porch with updated windows. Split heating and cooling units, bathroom wall radiators, softwood and vinyl flooring, and a shingle roof are among the existing features.
The approximately 0.43-acre lot is mostly level and includes garden space, natural shade, a porch, and storage. Public water, public sewer, and cable availability serve the property. Located in Ashland near Route 3, the property is close to downtown amenities, the Lakes Region, and the White Mountains. Little Squam Lake town beach is a 5 minute drive away, and the yard borders the backside of Ashland Elementary.
The approximately 0.43-acre lot is mostly level and includes garden space, natural shade, a porch, and storage. Public water, public sewer, and cable availability serve the property. Located in Ashland near Route 3, the property is close to downtown amenities, the Lakes Region, and the White Mountains. Little Squam Lake town beach is a 5 minute drive away, and the yard borders the backside of Ashland Elementary.
Key Highlights
- Approximately 2,699 square feet of living space
- Two units: one 2‑bedroom, 1‑bathroom unit and one 3 bedroom, 1 bath unit
- Three‑story 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
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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
165
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units with a paved drive, attached garage, and public water and sewer.
Where is this duplex located?
The property is located at 47 Highland Street 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: Approximately 2,699 square feet of living space; Two units: one 2‑bedroom, 1‑bathroom unit and one 3 bedroom, 1 bath unit; Three‑story barn with an electric vehicle charging station
