Three-Building Multifamily
For Sale
$1,600,000
7-13 Belknap Street, Dover, NH 03820
Three-building six-unit portfolio offers five two-bedroom and one three-bedroom unit within walking distance of Downtown Dover.
Property Size6,498 SF
Price / SF$246.23
Days on Market140
Property Features for 7-13 Belknap Street
General Information
Standard status
Active
Size
6,498 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
6
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
The Boulos Company
(603) 427-1333
Listed By:
Christian Stallkamp · License #064644
(603) 548-5315
Source:
Burkelordrealestate
Added: Apr 7
Changed: Aug 24
Last Checked: Jul 24 at 9:35AM
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 The Boulos Company
Investment Insights
Based on property information with market context.
A three-building, six-unit multifamily portfolio at 7–13 Belknap St offers a practical unit mix for rental housing. The buildings include five two-bedroom/one-bath units and one three-bedroom/two-bath unit. Totaling approximately 6,498± SF, the properties have been well maintained and are positioned for stable operations.
The portfolio is located in Dover, NH within walking distance of Downtown Dover, with proximity to employment centers, dining, retail, and major transportation routes. BikeScore of 57 (Bikeable) and WalkScore of 72 (Very Walkable) support convenient access to the city center.
For an owner seeking a straightforward portfolio structure, the configuration provides multiple two-bedroom units alongside a larger three-bedroom option, supporting day-to-day leasing flexibility across the property mix.
The portfolio is located in Dover, NH within walking distance of Downtown Dover, with proximity to employment centers, dining, retail, and major transportation routes. BikeScore of 57 (Bikeable) and WalkScore of 72 (Very Walkable) support convenient access to the city center.
For an owner seeking a straightforward portfolio structure, the configuration provides multiple two-bedroom units alongside a larger three-bedroom option, supporting day-to-day leasing flexibility across the property mix.
Key Highlights
- Three‑building, six‑unit multifamily portfolio at 7–13 Belknap Street
- Building area: 6,498± SF; year built 1890
- Unit mix includes five 2BR/1BA units and one 3BR/2BA unit
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
$60,837
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
3.80%
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%
$1,216,740
$1.2M
Cap Rate 7%
$869,100
$869.1K
Cap Rate 9%
$675,967
$676.0K
Market Conditions
NOI Build-Up for 6,498 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
$114.6K $17.64/SF
− Vacancy
−$4.0K −$0.62/SF
EGI
$110.6K $17.02/SF
− OpEx
−$49.8K −$7.66/SF
NOI
$60.8K $9.36/SF
Area
Strafford County, NH
Vacancy
3.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,216,740
Cap Rate 7%
$869,100
Cap Rate 9%
$675,967
Alternative Uses
Best Use
Apartment 5plus
$869.1K
$760.5K – $1.01M
NOI $60,837 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,689 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,450
Businesses Nearby
Explore this area
Business Placement
Demographics for 03820, NH
32,800
Population
15,460
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
27.3 sq mi
ZIP Area
1,201
Density / Sq Mi
$92,793
Median Household Income
$53,890
Median Earnings
$1,540
Median Rent
$397,900
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?
Apartment building - Three-building six-unit portfolio offers five two-bedroom and one three-bedroom unit within walking distance of Downtown Dover.
Where is this apartment building located?
The property is located at 7-13 Belknap Street Dover, NH.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Three‑building, six‑unit multifamily portfolio at 7–13 Belknap Street; Building area: 6,498± SF; year built 1890; Unit mix includes five 2BR/1BA units and one 3BR/2BA unit
