Two-Family Residential Income
For Sale
$349,900
6 1/2 Bennett Court, Lebanon, NH 03766
Two-family home with first-floor and upper-level units, small yard, and town-maintained road access with public water and sewer.
Property Size1,344 SF
Days on Market98
Property Features for 6 1/2 Bennett Court
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi Family Home
Zoning
R3
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,300
Building Details
Building Size
1,344 SF
Year Built
1880
Stories
2
Units
2
Listing Agency:
Susan Cole Realty Group, LLC
(603) 448-4500
Listed By:
Susan Cole
(603) 448-4500
Source:
Ossipeelakere
Added: May 19
Changed: Aug 23
Last Checked: Aug 6 at 4:32AM
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 Susan Cole Realty Group, LLC
Investment Insights
Based on property information with market context.
This two-family residential income property was built in 1880 and is configured with one unit on the first floor and a second unit on the upper level. The home includes a small yard designed for easier maintenance while supporting in-town living.
The property is located on a town-maintained road and served by public water and sewer. The remarks indicate proximity to the rail trail, public transportation, Lebanon Green, library, restaurants, and Upper Valley amenities, including APD, DHMC, and Dartmouth College.
With two separate living levels already in place, the building offers flexibility for owner-occupants or investors looking for rental income within a compact, manageable setting.
The property is located on a town-maintained road and served by public water and sewer. The remarks indicate proximity to the rail trail, public transportation, Lebanon Green, library, restaurants, and Upper Valley amenities, including APD, DHMC, and Dartmouth College.
With two separate living levels already in place, the building offers flexibility for owner-occupants or investors looking for rental income within a compact, manageable setting.
Key Highlights
- Two‑family home built in 1880 with a first‑floor unit and an upper‑level unit
- Small yard for low‑maintenance outdoor space
- Town‑maintained road access with public water and sewer
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
$13,336
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
3.81%
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%
$266,720
$266.7K
Cap Rate 7%
$190,514
$190.5K
Cap Rate 9%
$148,178
$148.2K
Market Conditions
NOI Build-Up for 1,344 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
$20.2K $15.00/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$19.1K $14.17/SF
− OpEx
−$5.7K −$4.25/SF
NOI
$13.3K $9.92/SF
Area
Grafton County, NH
Vacancy
5.50%
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%
$266,720
Cap Rate 7%
$190,514
Cap Rate 9%
$148,178
Alternative Uses
Best Use
Multifamily LT 5
$190.5K
$166.7K – $222.3K
NOI $13,336 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$174.6K
$152.7K – $203.7K
NOI $12,219 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$295.6K
$258.7K – $344.9K
NOI $20,695 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 03766, NH
9,838
Population
5,346
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
95%
High-School Grad
32.0 sq mi
ZIP Area
307
Density / Sq Mi
$96,642
Median Household Income
$53,441
Median Earnings
$1,860
Median Rent
$348,000
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 - Two-family home with first-floor and upper-level units, small yard, and town-maintained road access with public water and sewer.
Where is this duplex located?
The property is located at 6 1/2 Bennett Court Lebanon, NH.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑family home built in 1880 with a first‑floor unit and an upper‑level unit; Small yard for low‑maintenance outdoor space; Town‑maintained road access with public water and sewer
