Three-Unit Multifamily
New
For Sale
$570,000
601-607 Province Rd, Laconia, NH 03246
Three independent units include a townhouse, a two-bedroom residence, and a detached studio cottage.
Property Size2,325 SF
Price / SF$245.16
Days on Market5
Property Features for 601-607 Province Rd
General Information
Standard status
Active
Size
2,325 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR townhouse, 1 x 2BR, 1 x studio
Multifamily Units
3
Amenities
peaceful brook
large detached garage with abundant storage
washer/dryer hookups in multiple units
individual electric meters
Building Details
Year Built
1910
Buildings
2
Listing Agency:
BobbyVan Realty
(603) 893-7999
Listed By:
Robert Van Laarhoven
Source:
Nhlegacygroup
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 8:07AM
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 BobbyVan Realty
Investment Insights
Based on property information with market context.
This three-unit multifamily property includes a 3-bedroom townhouse-style residence, a separate 2-bedroom unit, and a detached studio cottage. The property offers 6 bedrooms and 5 bathrooms overall, along with an oversized detached 2-car garage, storage space, and off-street parking. Individual electric meters and washer/dryer hookups in multiple units support separate occupancy arrangements.
The property is located at 601-607 Province Rd in Laconia, New Hampshire, near Downtown Laconia, Route 106, and the Laconia Bypass. Lake Winnipesaukee, shopping, restaurants, and year-round recreation are also identified nearby. A brook crosses the private lot, adding a natural feature to the residential setting.
The property is located at 601-607 Province Rd in Laconia, New Hampshire, near Downtown Laconia, Route 106, and the Laconia Bypass. Lake Winnipesaukee, shopping, restaurants, and year-round recreation are also identified nearby. A brook crosses the private lot, adding a natural feature to the residential setting.
Key Highlights
- Three independent units with 6 bedrooms and 5 bathrooms total
- Main building includes a 3‑bedroom townhouse‑style unit and a 2‑bedroom unit
- Detached studio cottage provides a third living space
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
$33,924
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
5.95%
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%
$678,480
$678.5K
Cap Rate 7%
$484,629
$484.6K
Cap Rate 9%
$376,933
$376.9K
Market Conditions
NOI Build-Up for 2,325 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
$50.2K $21.60/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$48.5K $20.84/SF
− OpEx
−$14.5K −$6.25/SF
NOI
$33.9K $14.59/SF
Area
Belknap County, NH
Vacancy
3.50%
Lease Rate
$21.60 /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%
$678,480
Cap Rate 7%
$484,629
Cap Rate 9%
$376,933
Alternative Uses
Best Use
Multifamily LT 5
$484.6K
$424.1K – $565.4K
NOI $33,924 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$445.6K
$389.9K – $519.9K
NOI $31,193 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$552.9K
$483.8K – $645.1K
NOI $38,703 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 03246, NH
16,905
Population
10,426
Households
1.6
Avg Household Size
47
Median Age
25%
College-Educated
93%
High-School Grad
19.9 sq mi
ZIP Area
849
Density / Sq Mi
$68,407
Median Household Income
$40,504
Median Earnings
$1,180
Median Rent
$307,800
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?
Triplex - Three independent units include a townhouse, a two-bedroom residence, and a detached studio cottage.
Where is this triplex located?
The property is located at 601-607 Province Rd Laconia, NH.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Three independent units with 6 bedrooms and 5 bathrooms total; Main building includes a 3‑bedroom townhouse‑style unit and a 2‑bedroom unit; Detached studio cottage provides a third living space
