Renovated 5-Unit Apartment
For Sale
$1,075,000
494 Wilson St, Manchester, NH 03103
Updated multifamily property with varied bedroom layouts and in-unit laundry hookups.
Property Size5,884 SF
Price / SF$182.70
Days on Market54
Property Features for 494 Wilson St
General Information
Standard status
Active
Size
5,884 SF
Property subtype
Residential Income
Net Operating Income
$100,000
Units
Unit Mix
1 x 4BR, 2 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
5
Additional Details
Cap Rate
9%
Taxes and HOA fees
Annual Taxes
$11,425
Amenities
washer/dryer hookups
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
AJ Pappas · License #452001651
(978) 270-5225
Source:
Exprealty
Added: Aug 24
Changed: Oct 8
Last Checked: Oct 15 at 4:32AM
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 eXp Realty LLC
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Investment Insights
Based on property information with market context.
This 5-unit apartment property contains a varied mix of one 4-bedroom, two 3-bedroom, one 2-bedroom, and one 1-bedroom residence. Interior updates include vinyl plank flooring, refreshed wood cabinetry, new paint, and bathroom vanities with modern fixtures. Each apartment includes washer and dryer hookups, while street parking is available nearby.
The property is located at 494 Wilson St in Manchester, New Hampshire, on the city’s East Side. Tenants separately pay heat, hot water, and electricity, supporting distinct utility responsibility by unit. The building contains 5,884 square feet and is reported at a 9.0% cap rate when fully occupied.
The property is located at 494 Wilson St in Manchester, New Hampshire, on the city’s East Side. Tenants separately pay heat, hot water, and electricity, supporting distinct utility responsibility by unit. The building contains 5,884 square feet and is reported at a 9.0% cap rate when fully occupied.
Key Highlights
- 5‑unit apartment property totaling 5,884 square feet
- Unit mix includes 4‑bedroom, 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
- Updated interiors feature vinyl plank flooring, wood cabinets, paint, and bathroom vanities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,941
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,478,820
$1.5M
Cap Rate 7%
$1,056,300
$1.1M
Cap Rate 9%
$821,567
$821.6K
Market Conditions
NOI Build-Up for 5,884 SF
Gross rent
$141.2K $24.00/SF
− Vacancy
−$6.8K −$1.15/SF
EGI
$134.4K $22.85/SF
− OpEx
−$60.5K −$10.28/SF
NOI
$73.9K $12.57/SF
Area
Manchester, NH
Vacancy
4.80%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,478,820
Cap Rate 7%
$1,056,300
Cap Rate 9%
$821,567
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$924.3K – $1.23M
NOI $73,941 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.69M
NOI $101,146 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,576
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily property with varied bedroom layouts and in-unit laundry hookups.
Where is this apartment building located?
The property is located at 494 Wilson St Manchester, NH.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 5‑unit apartment property totaling 5,884 square feet; Unit mix includes 4‑bedroom, 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments; Updated interiors feature vinyl plank flooring, wood cabinets, paint, and bathroom vanities
