Two-Unit Duplex with Separate
New
For Sale
$439,500
498 Merrimack Street, Manchester, NH 03103
A corner-lot property with basement storage and two distinct entrances.
Property Size3,840 SF
Price / SF$171.68
Days on Market3
Property Features for 498 Merrimack Street
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Residential Income
Zoning
res
Property Condition
Severity
Repairs Needed
Evidence
simple improvements
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,131
Amenities
Natural Gas, Oil, Forced Air
Finished, Full, Unfinished, Storage Space
Electric Water Heater
Concrete, Driveway, Off Street
Multi-Family
Building Details
Building Size
3,840 SF
Year Built
1900
Stories
2
Listed By:
Kathy Sutherland
(603) 345-8875
Source:
Evrealestate
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 14 at 10:03PM
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 Kathy Sutherland
Investment Insights
Based on property information with market context.
This 1900-built duplex contains two units of approximately 1,280 square feet apiece. Each has two bedrooms per the city, plus a large additional room that can serve as flexible space. Separate entrances and utilities distinguish the units, and the basement provides storage for both. All but two windows were replaced in 2018. The seller will provide a new Certificate of Compliance at closing.
Elliot Hospital is less than five minutes away, while Elm Street dining and downtown amenities are approximately 10 minutes from the property. UNH Manchester, Saint Anselm College, SNHU, Manchester Community College, and Franklin Pierce University are also identified in the surrounding area. The property has a Walk Score of 87 and a Bike Score of 49.
Elliot Hospital is less than five minutes away, while Elm Street dining and downtown amenities are approximately 10 minutes from the property. UNH Manchester, Saint Anselm College, SNHU, Manchester Community College, and Franklin Pierce University are also identified in the surrounding area. The property has a Walk Score of 87 and a Bike Score of 49.
Key Highlights
- Two units, each approximately 1,280 square feet
- Each unit has two bedrooms per the city, plus an additional large room
- Separate entrances and utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,546
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,920
$690.9K
Cap Rate 7%
$493,514
$493.5K
Cap Rate 9%
$383,844
$383.8K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$52.2K $20.40/SF
− Vacancy
−$2.9K −$1.12/SF
EGI
$49.4K $19.28/SF
− OpEx
−$14.8K −$5.78/SF
NOI
$34.5K $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 Rate 5%
$690,920
Cap Rate 7%
$493,514
Cap Rate 9%
$383,844
Alternative Uses
Best Use
Multifamily LT 5
$493.5K
$431.8K – $575.8K
NOI $34,546 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$459.6K
$402.1K – $536.2K
NOI $32,170 @ 7.0% cap · market cap 7.32%
Theoretical Best
Specialty Retail
$628.7K
$550.1K – $733.4K
NOI $44,006 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,473
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
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Frequently Asked Questions
What type of property is this?
Duplex - A corner-lot property with basement storage and two distinct entrances.
Where is this duplex located?
The property is located at 498 Merrimack Street Manchester, NH.
What is the asking price?
The asking price for this property is $439,500.
What are key features of this property?
This property features: Two units, each approximately 1,280 square feet; Each unit has two bedrooms per the city, plus an additional large room; Separate entrances and utilities for each unit
