Duplex with Separate
New
For Sale
$439,500
498 Merrimack Street, Manchester, NH 03103
Multi-Family, Manchester, NH
Property Size2,560 SF
Lot Size0.07 Acres
Price / SF$171.68
Days on Market2
Property Features for 498 Merrimack Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bathroom 1, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Basement
Parking features
Off Street, Driveway
Appliances
Electric Water Heater, Natural Gas Water Heater
Lot features
Corner
Elementary school
McDonough School
Middle school
Hillside Middle School
High school
Manchester Central High Sch
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Directions
per GPS
Standard status
Active
Size
2,560 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6131
Utilities
Heating system
Forced Air, Natural Gas, Oil
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Wood, Carpet
Building materials
Wood Frame
Roof type
Tar/Gravel, Flat
Architectural style
Other
Listing Agency:
Keller Williams Realty Metro-Londonderry
Listed By:
Kathy Sutherland
(603) 232-8282
Added: Oct 13
Last Checked: Oct 14 at 5:06PM
MLS# 5114001
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,560-square-foot duplex contains two units of approximately 1,280 square feet each, with separate entrances and utility service. A basement provides storage for both units. The 0.07-acre corner lot includes a driveway and off-street parking. All but two windows were replaced in 2018, and the seller will provide a new Certificate of Compliance at closing.
At 498 Merrimack Street in Manchester, the property is less than five minutes from Elliot Hospital and about 10 minutes from Elm Street’s dining and downtown amenities. Nearby educational institutions include UNH Manchester, Saint Anselm College, SNHU, Manchester Community College, and Franklin Pierce University.
At 498 Merrimack Street in Manchester, the property is less than five minutes from Elliot Hospital and about 10 minutes from Elm Street’s dining and downtown amenities. Nearby educational institutions include UNH Manchester, Saint Anselm College, SNHU, Manchester Community College, and Franklin Pierce University.
Key Highlights
- Two units totaling 2,560 square feet; each is approximately 1,280 square feet
- Individual entrances and separate utility service for each unit
- Basement storage serves both units
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
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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 - Two self-contained units have individual utility service and basement storage.
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 totaling 2,560 square feet; each is approximately 1,280 square feet; Individual entrances and separate utility service for each unit; Basement storage serves both units
