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    Two-Family Residence With Conversion Potential Title is generated by Realmo AI

    59 Depot Street, Lancaster, NH 03584

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    New
    For Sale
    $179,000

    MULTI_FAMILY - Other - Lancaster, NH

    Property size:
    2,379 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $75/SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 4:06 am

    Property Features for 59 Depot Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Rooms
    Basement
    Patio and Porch features
    Deck
    Exterior features
    Deck
    Standard status
    Active
    Size
    2,379 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    3517

    Utilities

    Utilities
    Propane
    Heating system
    Propane (Heating)
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Combination
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Linda Larrivee
    Linda Larrivee

    Listing agent Linda Larrivee

    Listing office RE/MAX Northern Edge 89 Main Street, Berlin, NH

    Listing date Jun 2, 2026

    MLS# 5092308 Listing URL

    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.

    HighLights

    • Two‑story property configured as a two‑family home, with potential to convert back to a large single‑family residence
    • Tenant on the first floor is scheduled to vacate on August 1, 2026
    • Improvements include new support beams, stonework, and a sump pump installed in the basement
    • Utilities and heating include propane; water source is public
    • Vinyl siding exterior and shingle roof
    • Deck and basement present; flooring is combination

    Overview

    This two-story residence is currently configured as a spacious two-family home and is being offered with the option to complete the home as-is or convert it back to a large single-family residence. The property includes several improvements already completed, including new support beams, stonework, and the installation of a sump pump in the basement. Throughout the first floor, exposed beams feature unique artistic carvings and craftsmanship that add character to the interior presentation. With 2,379 square feet of space and a 0.25-acre lot, it offers a substantial foundation for an owner-occupant or investor to finish according to their plans.

    Located at 59 Depot Street in Lancaster, New Hampshire, the home sits within Residential zoning. The first-floor tenant is scheduled to vacate on August 1, 2026, which may provide a defined timeline for either completing work and preparing the unit for occupancy, or transitioning the configuration.

    For buyers and investors, the key consideration is the balance between the already-completed structural and basement updates and the remaining work needed to finalize the property to your preferred use. Please note that the home will not qualify for FHA or VA financing, which may affect how buyers plan their funding approach.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Coos
    State
    New Hampshire
    Longitude
    -71.5698146
    Latitude
    44.4975077

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    FAQs

    What type of property is this?
    Duplex - Two-story property configured as a spacious two-family home with completed structural work and conversion options.
    Where is this duplex located?
    The property is located at 59 Depot Street Lancaster, NH.
    What is the asking price?
    The asking price for this property is $179,000.
    What are key features of this property?
    This property features: Two‑story property configured as a two‑family home, with potential to convert back to a large single‑family residence; Tenant on the first floor is scheduled to vacate on August 1, 2026; Improvements include new support beams, stonework, and a sump pump installed in the basement
    (603) 752-0003
    We can help!
    Listing Contact
    Linda Larrivee
    Linda Larrivee
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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