Two-Family Residential Income
For Sale
$475,000
Pending
644 Pine Street, Manchester, NH 03104
Well-positioned two-unit property with in-unit laundry, separate utilities, and dedicated parking for both units.
Property Size2,136 SF
Days on Market100
Property Features for 644 Pine Street
General Information
Standard status
Pending
Size
2,136 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
RE/MAX Triumph Realty
(978) 262-9665
Listed By:
Dawn Sylvester · License #53883
(978) 804-2242
Source:
Lockandkeyre
Added: Jul 8
Changed: Oct 15
Last Checked: Oct 15 at 12:45AM
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 RE/MAX Triumph Realty
Investment Insights
Based on property information with market context.
This two-family residential income property includes two separate units, with laundry facilities available in each unit. The first-floor unit is currently occupied, while the second-floor unit is vacant and ready for immediate occupancy. The property features shared front entrance with separate back entrances for each unit.
Both units include their own parking. Utilities are separated, with separate heating, hot water, and electrical services for each unit.
The current setup supports either owner-occupancy with a tenant on the other level or leasing both units. Shared access at the front and separate entrances at the rear provide practical day-to-day separation between the units.
Both units include their own parking. Utilities are separated, with separate heating, hot water, and electrical services for each unit.
The current setup supports either owner-occupancy with a tenant on the other level or leasing both units. Shared access at the front and separate entrances at the rear provide practical day-to-day separation between the units.
Key Highlights
- Two‑family property built in 1920 with two separate units
- Each unit includes its own laundry
- First‑floor unit is currently occupied; second‑floor unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,824
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,480
$576.5K
Cap Rate 7%
$411,771
$411.8K
Cap Rate 9%
$320,267
$320.3K
Market Conditions
NOI Build-Up for 2,136 SF
Gross rent
$43.6K $20.40/SF
− Vacancy
−$2.4K −$1.12/SF
EGI
$41.2K $19.28/SF
− OpEx
−$12.4K −$5.78/SF
NOI
$28.8K $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%
$576,480
Cap Rate 7%
$411,771
Cap Rate 9%
$320,267
Alternative Uses
Best Use
Multifamily LT 5
$411.8K
$360.3K – $480.4K
NOI $28,824 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$383.5K
$335.5K – $447.4K
NOI $26,842 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$524.5K
$459.0K – $612.0K
NOI $36,718 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,337
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-positioned two-unit property with in-unit laundry, separate utilities, and dedicated parking for both units.
Where is this duplex located?
The property is located at 644 Pine Street Manchester, NH.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑family property built in 1920 with two separate units; Each unit includes its own laundry; First‑floor unit is currently occupied; second‑floor unit is vacant
