Remodeled Triplex with
New
For Sale
$725,000
61 B Street, Manchester, NH 03102
Three-bedroom units include bonus rooms, laundry hookups, private storage, and access to a fenced backyard.
Property Size4,646 SF
Lot Size0.19 Acres
Price / SF$156.05
Days on Market7
Property Features for 61 B Street
General Information
Standard status
Active
Size
4,646 SF
Lot size
0.19 Acres
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
3 x 3BR + bonus room
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
private balconies
individual basement storage lockers
private fenced backyard
Building Details
Year Built
1900
Listing Agency:
Downtown Realty
(603) 554-2309
Listed By:
Matthew Lefebvre · License #070207
(617) 510-4783
Source:
Lakesregionrealestate
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 28 at 12:15PM
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 4,646-square-foot triplex, built in 1900, contains three residential units on a landscaped 0.19-acre parcel. Each unit has three bedrooms, a bonus room, washer and dryer hookups, and a private balcony. The bonus rooms provide additional interior space, while basement storage lockers offer dedicated storage for each residence. A fenced backyard serves as an additional outdoor feature.
Two units are occupied, and Unit #2 has been remodeled and is vacant. Electric, heat, and hot water are separately metered, with each unit responsible for its own usage. The property is zoned R-2 and located at 61 B Street in Manchester, with access to downtown, commuter routes, shopping, dining, and daily amenities.
Two units are occupied, and Unit #2 has been remodeled and is vacant. Electric, heat, and hot water are separately metered, with each unit responsible for its own usage. The property is zoned R-2 and located at 61 B Street in Manchester, with access to downtown, commuter routes, shopping, dining, and daily amenities.
Key Highlights
- Three‑unit multifamily property totaling 4,646 square feet on a 0.19‑acre lot
- Each unit includes 3 bedrooms, a bonus room, and washer and dryer hookups
- Unit #2 is remodeled and vacant; 2 units are currently occupied
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
$62,696
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
8.65%
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%
$1,253,920
$1.3M
Cap Rate 7%
$895,657
$895.7K
Cap Rate 9%
$696,622
$696.6K
Market Conditions
NOI Build-Up for 4,646 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
$94.8K $20.40/SF
− Vacancy
−$5.2K −$1.12/SF
EGI
$89.6K $19.28/SF
− OpEx
−$26.9K −$5.78/SF
NOI
$62.7K $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%
$1,253,920
Cap Rate 7%
$895,657
Cap Rate 9%
$696,622
Alternative Uses
Best Use
Multifamily LT 5
$895.7K
$783.7K – $1.04M
NOI $62,696 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$834.0K
$729.8K – $973.1K
NOI $58,383 @ 7.0% cap · market cap 8.05%
Theoretical Best
Specialty Retail
$1.14M
$998.3K – $1.33M
NOI $79,865 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Explore this area
Business Placement
Demographics for 03102, NH
33,396
Population
15,264
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
9.1 sq mi
ZIP Area
3,670
Density / Sq Mi
$69,927
Median Household Income
$43,518
Median Earnings
$1,533
Median Rent
$309,400
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-bedroom units include bonus rooms, laundry hookups, private storage, and access to a fenced backyard.
Where is this triplex located?
The property is located at 61 B Street Manchester, NH.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three‑unit multifamily property totaling 4,646 square feet on a 0.19‑acre lot; Each unit includes 3 bedrooms, a bonus room, and washer and dryer hookups; Unit #2 is remodeled and vacant; 2 units are currently occupied
