Duplex with Updated
For Sale
$575,000
605 Hall Street, Manchester, NH 03104
Two-unit residential property with a renovated kitchen, period character, private outdoor space, and driveway parking.
Property Size2,105 SF
Price / SF$273.16
Days on Market158
Property Features for 605 Hall Street
General Information
Standard status
Active
Size
2,105 SF
Property subtype
Multi Family
Zoning
RES
Taxes and HOA fees
Annual Taxes
$6,122
Amenities
Hot Air
Yes
2
Interior
Unfinished
Asphalt Shingle
Vinyl Siding
Building Details
Year Built
1890
Listing Agency:
Downtown Realty
(603) 554-2309
Listed By:
Matthew Lefebvre · License #070207
(603) 554-2309
Source:
Compass
Added: Mar 26
Changed: Aug 30
Last Checked: Aug 30 at 1:38PM
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 Downtown Realty
Investment Insights
Based on property information with market context.
This 2,105-square-foot duplex, built in 1890, includes a vacant four-bedroom first-floor residence and an occupied two-bedroom second-floor residence. The first-floor unit has an updated kitchen with granite countertops and stainless-steel appliances. Original hardwood flooring, built-in features, natural light, spacious rooms, and period detailing contribute character throughout the property. Both units include washer/dryer hookups.
The exterior features vinyl siding and asphalt-shingle roofing, along with a fenced yard area and driveway parking. Zoned RES, the property is located at 605 Hall Street in Manchester, NH, near downtown, shopping, dining, and major routes. The existing two-unit configuration provides separate residential spaces within a single income-property asset.
The exterior features vinyl siding and asphalt-shingle roofing, along with a fenced yard area and driveway parking. Zoned RES, the property is located at 605 Hall Street in Manchester, NH, near downtown, shopping, dining, and major routes. The existing two-unit configuration provides separate residential spaces within a single income-property asset.
Key Highlights
- 2,105‑square‑foot duplex built in 1890
- Vacant 4‑bedroom first‑floor unit paired with an occupied 2‑bedroom second‑floor unit
- First‑floor kitchen includes granite countertops and stainless‑steel appliances
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
$28,406
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
4.94%
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%
$568,120
$568.1K
Cap Rate 7%
$405,800
$405.8K
Cap Rate 9%
$315,622
$315.6K
Market Conditions
NOI Build-Up for 2,105 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
$42.9K $20.40/SF
− Vacancy
−$2.4K −$1.12/SF
EGI
$40.6K $19.28/SF
− OpEx
−$12.2K −$5.78/SF
NOI
$28.4K $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%
$568,120
Cap Rate 7%
$405,800
Cap Rate 9%
$315,622
Alternative Uses
Best Use
Multifamily LT 5
$405.8K
$355.1K – $473.4K
NOI $28,406 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$377.9K
$330.7K – $440.9K
NOI $26,452 @ 7.0% cap · market cap 4.60%
Theoretical Best
Specialty Retail
$516.9K
$452.3K – $603.1K
NOI $36,185 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
589
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a renovated kitchen, period character, private outdoor space, and driveway parking.
Where is this duplex located?
The property is located at 605 Hall Street Manchester, NH.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,105‑square‑foot duplex built in 1890; Vacant 4‑bedroom first‑floor unit paired with an occupied 2‑bedroom second‑floor unit; First‑floor kitchen includes granite countertops and stainless‑steel appliances
