Two-Unit Residential Income
For Sale
$525,000
51 Grove Street, Bartlett, NH 03812
Well-maintained two-unit home with separate layouts, allowing owner-occupancy or full rental use.
Property Size2,667 SF
Price / SF$196.85
Days on Market50
Property Features for 51 Grove Street
General Information
Standard status
Active
Size
2,667 SF
Property subtype
Multi Family Home
Building Details
Year Built
1940
Listing Agency:
Black Bear Realty
(603) 707-0731
Listed By:
Adam Voelbel
(603) 707-0731
Source:
Threehillsres
Added: Jun 12
Changed: Jul 10
Last Checked: Jul 30 at 1:15PM
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 Black Bear Realty
Investment Insights
Based on property information with market context.
This well-maintained two-unit residential property is configured to support owner-occupancy or renting both units. Each unit features a comfortable layout with natural light from large windows and an overall charming interior. The lower unit includes two bedrooms and one bathroom, with a kitchen and laundry located in the basement. The upper unit offers two bedrooms and two bathrooms, along with a kitchen and second-floor laundry.
Outside, the property includes a level backyard with a fire pit, providing usable outdoor space for relaxation or entertaining. The home is located in town near the elementary school. The property is served by public water, and the remarks indicate low Bartlett taxes.
For tenants or buyers seeking income potential, the separate two-unit setup can accommodate a range of occupancy strategies, including living in one unit while generating rental income from the other. The presence of in-unit laundry hookups or laundry areas within each unit can also be a practical advantage for day-to-day living and tenant convenience.
Outside, the property includes a level backyard with a fire pit, providing usable outdoor space for relaxation or entertaining. The home is located in town near the elementary school. The property is served by public water, and the remarks indicate low Bartlett taxes.
For tenants or buyers seeking income potential, the separate two-unit setup can accommodate a range of occupancy strategies, including living in one unit while generating rental income from the other. The presence of in-unit laundry hookups or laundry areas within each unit can also be a practical advantage for day-to-day living and tenant convenience.
Key Highlights
- Well‑maintained two‑unit home built in 1940 with separate layouts for owner‑occupant or full rental use
- Lower unit: 2 bedrooms, 1 bathroom, kitchen, plus laundry in the basement
- Upper unit: 2 bedrooms, 2 bathrooms, kitchen, plus second‑floor laundry
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.4k | $17.40 |
| − Vacancy | −$2.1k | −$0.78 |
| EGI | $44.3k | $16.62 |
| − OpEx | −$13.3k | −$4.99 |
| NOI | $31.0k | $11.63 |
2,667 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$443.2K
$387.8K – $517.0K
NOI $31,022 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$392.1K
$343.1K – $457.4K
NOI $27,446 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$665.9K
$582.7K – $776.9K
NOI $46,616 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 03812, NH
936
Population
1,563
Households
0.6
Avg Household Size
53
Median Age
48%
College-Educated
100%
High-School Grad
58.6 sq mi
ZIP Area
16
Density / Sq Mi
$37,750
Median Earnings
$345,800
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 - Well-maintained two-unit home with separate layouts, allowing owner-occupancy or full rental use.
Where is this duplex located?
The property is located at 51 Grove Street Bartlett, NH.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Well‑maintained two‑unit home built in 1940 with separate layouts for owner‑occupant or full rental use; Lower unit: 2 bedrooms, 1 bathroom, kitchen, plus laundry in the basement; Upper unit: 2 bedrooms, 2 bathrooms, kitchen, plus second‑floor laundry
