Four-Unit Multifamily
For Sale
$825,000
575 Summer St, Manchester, NH 03103
Two three-bedroom and two one-bedroom units offer varied residential layouts with separately metered utilities.
Property Size4,320 SF
Price / SF$190.97
Days on Market116
Property Features for 575 Summer St
General Information
Standard status
Active
Size
4,320 SF
Net Rentable
4,300 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR, 2 x 1BR
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
off-street parking
laundry hookups
Building Details
Year Built
1920
Listing Agency:
Realty One Group Next Level
(603) 389-6604
Listed By:
Nikki Kalantzis
Source:
Seacoasthomesforsalemainenh
Added: May 7
Changed: Aug 28
Last Checked: Aug 29 at 10:39AM
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 Realty One Group Next Level
Investment Insights
Based on property information with market context.
Built in 1920, this four-unit multifamily property contains 4,320 square feet and offers a balanced unit mix of two three-bedroom residences and two one-bedroom residences. Each unit has separate utility metering, with occupants responsible for their own utility expenses. The property is served by natural gas and includes off-street parking.
Laundry infrastructure includes washer and dryer hookups in both three-bedroom units, along with additional hookups in the basement. Three of the four units are occupied under month-to-month leases, while the remaining unit is not identified in the available property information. The combination of multiple unit layouts, individual utility metering, and on-site laundry hookups provides a practical configuration for multifamily ownership.
Laundry infrastructure includes washer and dryer hookups in both three-bedroom units, along with additional hookups in the basement. Three of the four units are occupied under month-to-month leases, while the remaining unit is not identified in the available property information. The combination of multiple unit layouts, individual utility metering, and on-site laundry hookups provides a practical configuration for multifamily ownership.
Key Highlights
- Four‑unit multifamily property with 4,320 square feet
- Unit mix includes two 3‑bedroom units and two 1‑bedroom units
- Separate utility meters place utility expenses with tenants
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
$58,297
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
7.07%
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%
$1,165,940
$1.2M
Cap Rate 7%
$832,814
$832.8K
Cap Rate 9%
$647,744
$647.7K
Market Conditions
NOI Build-Up for 4,320 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
$88.1K $20.40/SF
− Vacancy
−$4.8K −$1.12/SF
EGI
$83.3K $19.28/SF
− OpEx
−$25.0K −$5.78/SF
NOI
$58.3K $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 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%
$1,165,940
Cap Rate 7%
$832,814
Cap Rate 9%
$647,744
Alternative Uses
Best Use
Multifamily LT 5
$832.8K
$728.7K – $971.6K
NOI $58,297 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$775.5K
$678.6K – $904.8K
NOI $54,287 @ 7.0% cap · market cap 6.58%
Theoretical Best
Specialty Retail
$1.06M
$928.3K – $1.24M
NOI $74,261 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,600
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two three-bedroom and two one-bedroom units offer varied residential layouts with separately metered utilities.
Where is this quadplex located?
The property is located at 575 Summer St Manchester, NH.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 4,320 square feet; Unit mix includes two 3‑bedroom units and two 1‑bedroom units; Separate utility meters place utility expenses with tenants
