Building Details

Year built 1910

Floors in Building 3

Number of units 2

Building materials Vinyl Siding

Roof type Shingle

Architectural style Other

Listing Agency: Realty One Group Next Level Show Phone

Listed By: JoJo Koszalka Show Phone

Added: Oct 18 Last Checked: Oct 18 at 3:06PM

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MLS# 5114773

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Investment Insights

Based on property information with market context.

Built in 1910, this 3,628-square-foot duplex contains two residences with hardwood flooring, updated kitchens, and laundry in each unit. A walk-up attic adds finished space with a full bathroom, heating, a dedicated electrical panel, drywall, and finished flooring. Recent building work includes a roof replacement, a new boiler, and conversion from oil to natural gas.

The property occupies a 0.12-acre lot at 6 Ray Street in Manchester, New Hampshire. It is zoned B-1 and has public water service.

Key Highlights

• Two residences, each with hardwood floors, an updated kitchen, and in‑unit laundry
• Finished walk‑up attic includes a full bathroom, heating, and dedicated electric panel
• 3,628 square feet on a 0.12‑acre lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,958

Cap Rate

8.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$979,160 $979.2K

Cap Rate 7%

$699,400 $699.4K

Cap Rate 9%

$543,978 $544.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,628 SF

Gross rent

$74.0K $20.40/SF

− Vacancy

−$4.1K −$1.12/SF

EGI

$69.9K $19.28/SF

− OpEx

−$21.0K −$5.78/SF

NOI

$49.0K $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 Rate 5%

$979,160

Cap Rate 7%

$699,400

Cap Rate 9%

$543,978

Alternative Uses

Best Use

Multifamily LT 5

$699.4K

$612.0K – $816.0K (±1% cap)

NOI $48,958 @ 7.0% cap · market cap 8.16%

Second Best

Apartment 5plus

$651.3K

$569.9K – $759.9K (±1% cap)

NOI $45,591 @ 7.0% cap · market cap 7.60%

Theoretical Best

Specialty Retail

$890.9K

$779.6K – $1.04M (±1% cap)

NOI $62,365 @ 7.0% cap · market cap 10.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Electrical Service Daycare Center Home Appliance Store Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,315

Businesses Nearby

Explore this area Business Placement

Demographics for 03104, NH

34,324

Population

15,715

Households

2.2

Avg Household Size

38

Median Age

43%

College-Educated

94%

High-School Grad

8.3 sq mi

ZIP Area

4,135

Density / Sq Mi

$84,513

Median Household Income

$48,513

Median Earnings

$1,455

Median Rent

$364,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate residences feature hardwood floors, updated kitchens, and in-unit laundry.

Where is this duplex located?

The property is located at 6 Ray Street Manchester, NH.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: Two residences, each with hardwood floors, an updated kitchen, and in‑unit laundry; Finished walk‑up attic includes a full bathroom, heating, and dedicated electric panel; 3,628 square feet on a 0.12‑acre lot