Duplex with Separate
For Sale
$399,900
545 White Mountain Highway, Milton, NH 03851
Two-unit income property with split utilities and easy-maintenance finishes, currently described with an 11.8% cap rate.
Property Size2,387 SF
Price / SF$167.53
Days on Market148
Property Features for 545 White Mountain Highway
General Information
Standard status
Active
Size
2,387 SF
Property subtype
Multi-Family
Zoning
High Density Residential
Additional Details
Cap Rate
11.8%
Multifamily Units
2
Building Details
Year Built
1900
Stories
2
Listing Agency:
REMAX Andrew Realty Services
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 21
Changed: Sep 7
Last Checked: Sep 14 at 6:09AM
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 REMAX Andrew Realty Services
Investment Insights
Based on property information with market context.
This duplex offers two separate units with interior finishes highlighted in the listing, including tray ceilings, hardwood floors, and tiled bathrooms. The property is positioned as having easy maintenance, with separate utilities for each unit intended to help control operating costs. The units are described as small in count but designed with spacious, room-filled layouts.
Located in downtown Milton at 545 White Mountain Highway, the property is described as across from Milton 3 Ponds and within walking distance of fishing, swimming, and boating. The listing also notes convenient proximity to schools, convenience stores, town hall, and the seacoast, along with nearby lakes and mountains. Route 16 is identified as being minutes away, alongside other local amenities.
For buyers seeking a residential income duplex, the combination of two self-contained units and separate utilities can support day-to-day management and tenant turnover. The listing also states the property can be purchased as part of a package with 547 White Mountain Highway. The current posting cites a 11.8% cap rate, and it indicates that delayed, scheduled private showings begin on Friday.
Located in downtown Milton at 545 White Mountain Highway, the property is described as across from Milton 3 Ponds and within walking distance of fishing, swimming, and boating. The listing also notes convenient proximity to schools, convenience stores, town hall, and the seacoast, along with nearby lakes and mountains. Route 16 is identified as being minutes away, alongside other local amenities.
For buyers seeking a residential income duplex, the combination of two self-contained units and separate utilities can support day-to-day management and tenant turnover. The listing also states the property can be purchased as part of a package with 547 White Mountain Highway. The current posting cites a 11.8% cap rate, and it indicates that delayed, scheduled private showings begin on Friday.
Key Highlights
- Duplex built in 1900 offering two income units with current cap rate of 11.8%
- Split utilities for each unit, described as allowing for lower expenses via separate utilities
- Units feature hardwood floors and tiled bathrooms, plus tray ceilings
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
$24,231
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
6.06%
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%
$484,620
$484.6K
Cap Rate 7%
$346,157
$346.2K
Cap Rate 9%
$269,233
$269.2K
Market Conditions
NOI Build-Up for 2,387 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
$35.8K $15.00/SF
− Vacancy
−$1.2K −$0.50/SF
EGI
$34.6K $14.50/SF
− OpEx
−$10.4K −$4.35/SF
NOI
$24.2K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /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%
$484,620
Cap Rate 7%
$346,157
Cap Rate 9%
$269,233
Alternative Uses
Best Use
Multifamily LT 5
$346.2K
$302.9K – $403.9K
NOI $24,231 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$319.3K
$279.4K – $372.5K
NOI $22,348 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$638.6K
$558.8K – $745.0K
NOI $44,702 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 03851, NH
3,891
Population
1,785
Households
2.2
Avg Household Size
47
Median Age
17%
College-Educated
91%
High-School Grad
26.3 sq mi
ZIP Area
148
Density / Sq Mi
$98,750
Median Household Income
$49,178
Median Earnings
$1,503
Median Rent
$282,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-unit income property with split utilities and easy-maintenance finishes, currently described with an 11.8% cap rate.
Where is this duplex located?
The property is located at 545 White Mountain Highway Milton, NH.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex built in 1900 offering two income units with current cap rate of 11.8%; Split utilities for each unit, described as allowing for lower expenses via separate utilities; Units feature hardwood floors and tiled bathrooms, plus tray ceilings
