Historic Multifamily
For Sale
$3,600,000
53 Austin Street, Portsmouth, NH 03801
Multi-Family, Portsmouth, NH
Property Size7,648 SF
Lot Size0.40 Acres
Price / SF$470.71
Days on Market101
Property Features for 53 Austin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GRC
Bedrooms
10
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 10, Bathroom 4, Basement, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 9, Bathroom 7, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 2
Parking features
Driveway, Open, Garage
Exterior features
Building, Partial Fence, Storage
Fencing
Partial
Appliances
Water Heater off Boiler
Lot features
City Lot, Landscaped, Level
Elementary school
Little Harbor School
Middle school
Portsmouth Middle School
High school
Portsmouth High School
Elementary school district
Portsmouth
Middle school district
Portsmouth
High school district
Portsmouth
Directions
From Middle Street traveling to downtown Portsmouth, turn left onto Austin Street at the Austin Street / Richards Avenue intersection. The Property will be on your right.
Standard status
Active
Size
7,648 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
41235
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1801
Floors in Building
3
Number of units
4
Flooring type
Hardwood
Building materials
Wood Frame, Clapboard Exterior, Wood Exterior, Wood Siding
Roof type
Shingle
Architectural style
Federal
Additional Structures
Storage
Listing Agency:
Tate & Foss Sotheby's International Rlty · Sotheby's International Realty
(603) 964-8028
Listed By:
Tony Jalbert
(603) 498-6241
Added: Jun 17
Changed: Sep 11
Last Checked: Sep 25 at 12:06AM
MLS# 5095216
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.
Built in 1801, this Federal-style multifamily property combines a principal residence with three apartments created within the former carriage house and stable. The main residence contains 7,648 square feet, six bedrooms, six renovated bathrooms, a granite kitchen, hardwood floors, marble fireplace mantels, crown molding, and detailed millwork. The additional residences include two one-bedroom apartments and one two-bedroom apartment. Wood-frame construction, clapboard and wood siding, natural-gas baseboard heat, a shingle roof, public water, garage parking, driveway parking, and storage are also present.
The property occupies 0.4 acres at 53 Austin Street in Portsmouth, New Hampshire, near downtown Portsmouth. Zoning is GRC. An existing inn license is included in the property information, with any hospitality use subject to approvals.
The property occupies 0.4 acres at 53 Austin Street in Portsmouth, New Hampshire, near downtown Portsmouth. Zoning is GRC. An existing inn license is included in the property information, with any hospitality use subject to approvals.
Key Highlights
- 1801 Federal‑style multifamily property at 53 Austin Street, Portsmouth, NH 03801
- Main residence contains 7,648 square feet, six bedrooms, and six renovated bathrooms
- Three additional apartments: two one‑bedroom units and one two‑bedroom unit
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
$116,056
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
3.22%
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%
$2,321,120
$2.3M
Cap Rate 7%
$1,657,943
$1.7M
Cap Rate 9%
$1,289,511
$1.3M
Market Conditions
NOI Build-Up for 7,648 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
$220.3K $28.80/SF
− Vacancy
−$9.3K −$1.21/SF
EGI
$211.0K $27.59/SF
− OpEx
−$95.0K −$12.42/SF
NOI
$116.1K $15.17/SF
Area
Rockingham County, NH
Vacancy
4.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$2,321,120
Cap Rate 7%
$1,657,943
Cap Rate 9%
$1,289,511
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.93M
NOI $116,056 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,236 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,843
Businesses Nearby
Explore this area
Business Placement
Demographics for 03801, NH
22,767
Population
11,448
Households
2
Avg Household Size
43
Median Age
63%
College-Educated
98%
High-School Grad
23.8 sq mi
ZIP Area
957
Density / Sq Mi
$106,520
Median Household Income
$65,984
Median Earnings
$1,783
Median Rent
$647,500
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?
Multifamily property - Federal-style property with a principal residence, three apartments, and an existing inn license subject to approvals.
Where is this multifamily property located?
The property is located at 53 Austin Street Portsmouth, NH.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 1801 Federal‑style multifamily property at 53 Austin Street, Portsmouth, NH 03801; Main residence contains 7,648 square feet, six bedrooms, and six renovated bathrooms; Three additional apartments: two one‑bedroom units and one two‑bedroom unit
