Renovated Four-Unit Multifamily
New
For Sale
$799,900
475 Wilson St, Manchester, NH 03103
Four residences provide a varied unit mix, off-street parking, and convenient access to Manchester amenities.
Property Size3,547 SF
Lot Size0.13 Acres
Price / SF$225.51
Days on Market5
Property Features for 475 Wilson St
General Information
Standard status
Active
Size
3,547 SF
Total Parking Spaces
4
Lot size
0.13 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 3BR/2BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Listing Agency:
RE/MAX Synergy
Listed By:
Andrew Caudill
(603) 384-8999
Source:
603luxury
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 7 at 12:26PM
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 RE/MAX Synergy
Investment Insights
Based on property information with market context.
This 4-unit multifamily property in Manchester contains 3547 square feet on a 5,460 sq ft lot. The unit mix includes one 4-bedroom/1.5-bath residence, one 3-bedroom/2-bath residence, and two 1-bedroom/1-bath residences. Units were fully renovated at turnover, and the 3-bedroom/2-bath unit is scheduled to be delivered vacant at closing. Off-street parking accommodates four vehicles, with room to expand.
Built in 1920, the property is located on Wilson St with access to downtown restaurants and nightlife, local parks and trails, hospitals, shopping, and highway connections. These destinations are described as being within a 20-minute drive, providing practical access to daily services and regional travel.
Built in 1920, the property is located on Wilson St with access to downtown restaurants and nightlife, local parks and trails, hospitals, shopping, and highway connections. These destinations are described as being within a 20-minute drive, providing practical access to daily services and regional travel.
Key Highlights
- 4‑unit multifamily property with 3547 square feet
- Unit mix includes 4bed/1.5bath, 3bed/2 bath, and two 1bed/1bath units
- Units were fully renovated at turnover
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
$47,865
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
5.98%
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%
$957,300
$957.3K
Cap Rate 7%
$683,786
$683.8K
Cap Rate 9%
$531,833
$531.8K
Market Conditions
NOI Build-Up for 3,547 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
$72.4K $20.40/SF
− Vacancy
−$4.0K −$1.12/SF
EGI
$68.4K $19.28/SF
− OpEx
−$20.5K −$5.78/SF
NOI
$47.9K $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%
$957,300
Cap Rate 7%
$683,786
Cap Rate 9%
$531,833
Alternative Uses
Best Use
Multifamily LT 5
$683.8K
$598.3K – $797.8K
NOI $47,865 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$636.8K
$557.2K – $742.9K
NOI $44,573 @ 7.0% cap · market cap 5.57%
Theoretical Best
Specialty Retail
$871.0K
$762.2K – $1.02M
NOI $60,973 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,584
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences provide a varied unit mix, off-street parking, and convenient access to Manchester amenities.
Where is this quadplex located?
The property is located at 475 Wilson St Manchester, NH.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 4‑unit multifamily property with 3547 square feet; Unit mix includes 4bed/1.5bath, 3bed/2 bath, and two 1bed/1bath units; Units were fully renovated at turnover
