Fully Occupied
For Sale
$549,000
48 New York Street, Dover, NH 03820
Two residential units offer matching layouts, bonus rooms, tenant-paid utilities, and off-street parking.
Property Size1,820 SF
Price / SF$301.65
Days on Market86
Property Features for 48 New York Street
General Information
Standard status
Active
Size
1,820 SF
Total Parking Spaces
2
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$51,000
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Davis McVay · License #9586649
(978) 927-8700
Source:
Kwevolution
Added: Jun 14
Changed: Sep 6
Last Checked: Sep 6 at 9:10AM
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 Realty Evolution
Investment Insights
Based on property information with market context.
This duplex contains upper and lower residences, each arranged with two bedrooms, one full bathroom, and a bonus room. Both units are occupied, and the property includes off-street parking for two vehicles on a low-maintenance lot. Tenants pay all utilities other than water and sewer.
Built in 1900, the property is located at 48 New York St in Dover, New Hampshire. Its setting is minutes from downtown Dover, with restaurants, shopping, parks, the waterfront, and major commuter routes nearby.
Built in 1900, the property is located at 48 New York St in Dover, New Hampshire. Its setting is minutes from downtown Dover, with restaurants, shopping, parks, the waterfront, and major commuter routes nearby.
Key Highlights
- Two‑family property with upper and lower units
- Both residences have 2 bedrooms, 1 full bathroom, and a bonus room
- Fully occupied with both units currently rented
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
$18,476
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
3.37%
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%
$369,520
$369.5K
Cap Rate 7%
$263,943
$263.9K
Cap Rate 9%
$205,289
$205.3K
Market Conditions
NOI Build-Up for 1,820 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
$27.3K $15.00/SF
− Vacancy
−$906 −$0.50/SF
EGI
$26.4K $14.50/SF
− OpEx
−$7.9K −$4.35/SF
NOI
$18.5K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
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%
$369,520
Cap Rate 7%
$263,943
Cap Rate 9%
$205,289
Alternative Uses
Best Use
Multifamily LT 5
$263.9K
$231.0K – $307.9K
NOI $18,476 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,040 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$486.9K
$426.1K – $568.1K
NOI $34,084 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 03820, NH
32,800
Population
15,460
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
1,201
Density / Sq Mi
$92,793
Median Household Income
$53,890
Median Earnings
$1,540
Median Rent
$397,900
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 offer matching layouts, bonus rooms, tenant-paid utilities, and off-street parking.
Where is this duplex located?
The property is located at 48 New York Street Dover, NH.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two‑family property with upper and lower units; Both residences have 2 bedrooms, 1 full bathroom, and a bonus room; Fully occupied with both units currently rented
