Two-Unit Multifamily with Eight
For Sale
$624,900
66 Ash Street, Manchester, NH 03104
Two separate residences with dedicated laundry and eight garage bays offer multiple ways to generate income.
Property Size2,880 SF
Price / SF$216.98
Days on Market65
Property Features for 66 Ash Street
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Multi-Unit
Additional Details
Multifamily Units
2
Amenities
Lot Size Acres: 0.2
Percentage of Tax that is Deductable: 0
Sale, Sale Type: Foreclosure
6 Bedrooms
Built in 1890
Property Township: Manchester
Above Area Square Feet: 2880
2 Full Baths
Building Details
Year Built
1890
Listing Agency:
BHHS Verani Realty
(603) 434-2377
Listed By:
Ben Verani Weigler
(603) 434-2377
Source:
Doyle-realty
Added: Jun 23
Changed: Aug 25
Last Checked: Aug 25 at 7:06AM
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 BHHS Verani Realty
Investment Insights
Based on property information with market context.
66 Ash St is a two-unit multifamily property with separate first- and second-floor residences. The first-floor home includes a large living room, an expansive eat-in kitchen, and a dedicated laundry room, with hardwood flooring and built-in character features. The second-floor residence offers a generous layout with a sizable kitchen, dining area, large living room, full bathroom, and three bedrooms, with laundry located in the basement.
The property sits on a one-way, low-traffic street and features a detached garage bay to the right of the home with two parking spaces in front. Seven additional garage bays are located behind the property with convenient access from Beech Street East. The exterior includes a farmer’s porch, mature landscaping, and established garden beds. BikeScore and WalkScore are provided as 62 (Bikeable) and 83 (Very Walkable).
This setup can fit a range of owner and tenant strategies, including occupying one unit while renting the other and/or generating rental income from the garage bays. With practical in-unit and basement laundry arrangements and a total of eight garage bays, the property supports households that value dedicated storage, parking, and separate living space.
The property sits on a one-way, low-traffic street and features a detached garage bay to the right of the home with two parking spaces in front. Seven additional garage bays are located behind the property with convenient access from Beech Street East. The exterior includes a farmer’s porch, mature landscaping, and established garden beds. BikeScore and WalkScore are provided as 62 (Bikeable) and 83 (Very Walkable).
This setup can fit a range of owner and tenant strategies, including occupying one unit while renting the other and/or generating rental income from the garage bays. With practical in-unit and basement laundry arrangements and a total of eight garage bays, the property supports households that value dedicated storage, parking, and separate living space.
Key Highlights
- Two‑unit multifamily with separate first- and second‑floor residences; year built 1890
- Eight garage bays total: 1 detached bay to the right with 2 parking spaces in front and 7 additional bays behind, with access from Beech Street East
- First‑floor unit includes a large living room, expansive eat‑in kitchen, and dedicated laundry room; hardwood flooring and Victorian‑era built‑ins
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
$38,864
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
6.22%
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%
$777,280
$777.3K
Cap Rate 7%
$555,200
$555.2K
Cap Rate 9%
$431,822
$431.8K
Market Conditions
NOI Build-Up for 2,880 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
$58.8K $20.40/SF
− Vacancy
−$3.2K −$1.12/SF
EGI
$55.5K $19.28/SF
− OpEx
−$16.7K −$5.78/SF
NOI
$38.9K $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%
$777,280
Cap Rate 7%
$555,200
Cap Rate 9%
$431,822
Alternative Uses
Best Use
Multifamily LT 5
$555.2K
$485.8K – $647.7K
NOI $38,864 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$517.0K
$452.4K – $603.2K
NOI $36,191 @ 7.0% cap · market cap 5.79%
Theoretical Best
Specialty Retail
$707.2K
$618.8K – $825.1K
NOI $49,507 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,038
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences with dedicated laundry and eight garage bays offer multiple ways to generate income.
Where is this duplex located?
The property is located at 66 Ash Street Manchester, NH.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Two‑unit multifamily with separate first- and second‑floor residences; year built 1890; Eight garage bays total: 1 detached bay to the right with 2 parking spaces in front and 7 additional bays behind, with access from Beech Street East; First‑floor unit includes a large living room, expansive eat‑in kitchen, and dedicated laundry room; hardwood flooring and Victorian‑era built‑ins
