Character-Rich Duplex with
For Sale
$800,000
495 Concord St Unit 497, Manchester, NH 03104
Two three-bedroom units include bonus rooms, updated kitchens, and separate outdoor areas.
Property Size3,504 SF
Price / SF$228.31
Days on Market47
Property Features for 495 Concord St Unit 497
General Information
Standard status
Active
Size
3,504 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA + bonus room
Multifamily Units
2
Amenities
original woodwork
fireplaces
updated kitchen
full basements
covered front porch
covered rear deck
fenced divider
Building Details
Year Built
1890
Buildings
1
Listing Agency:
BHG Masiello Concord
(603) 228-0151
Listed By:
Mary E Graziano
Source:
Nhlakesandmountainshomesearch
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 25 at 7:23AM
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 BHG Masiello Concord
Investment Insights
Based on property information with market context.
Built in 1890, this 3,504 SF duplex includes two residential units, each with three bedrooms, one full bath, one half bath, and a second-floor bonus room suitable for office, den, or playroom use. Both units retain original woodwork and vintage fireplace mantels with working fireplaces, while updated kitchens add contemporary functionality. Separate full basements provide dedicated lower-level space for each unit.
Exterior features include a covered front porch, covered rear deck porches, and a fenced divider separating the outdoor areas. The roof was replaced 4 years ago. The property has been owner-occupied for 20 years and is located in the Hanover Hill area of Manchester, New Hampshire.
Exterior features include a covered front porch, covered rear deck porches, and a fenced divider separating the outdoor areas. The roof was replaced 4 years ago. The property has been owner-occupied for 20 years and is located in the Hanover Hill area of Manchester, New Hampshire.
Key Highlights
- 3,504 SF duplex with two residential units
- Each unit offers 3 bedrooms, 1 full bath, 1 half bath, and a second‑floor bonus room
- Original woodwork and vintage fireplace mantels with working fireplaces
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
$47,285
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
5.91%
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%
$945,700
$945.7K
Cap Rate 7%
$675,500
$675.5K
Cap Rate 9%
$525,389
$525.4K
Market Conditions
NOI Build-Up for 3,504 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
$71.5K $20.40/SF
− Vacancy
−$3.9K −$1.12/SF
EGI
$67.6K $19.28/SF
− OpEx
−$20.3K −$5.78/SF
NOI
$47.3K $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%
$945,700
Cap Rate 7%
$675,500
Cap Rate 9%
$525,389
Alternative Uses
Best Use
Multifamily LT 5
$675.5K
$591.1K – $788.1K
NOI $47,285 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$629.0K
$550.4K – $733.9K
NOI $44,033 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$860.5K
$752.9K – $1.00M
NOI $60,234 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 03104, NH
34,324
Population
15,715
Households
2.2
Avg Household Size
38
Median Age
43%
College-Educated
94%
High-School Grad
8.3 sq mi
ZIP Area
4,135
Density / Sq Mi
$84,513
Median Household Income
$48,513
Median Earnings
$1,455
Median Rent
$364,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units include bonus rooms, updated kitchens, and separate outdoor areas.
Where is this duplex located?
The property is located at 495 Concord St Unit 497 Manchester, NH.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,504 SF duplex with two residential units; Each unit offers 3 bedrooms, 1 full bath, 1 half bath, and a second‑floor bonus room; Original woodwork and vintage fireplace mantels with working fireplaces
