Duplex with Two-Car
New
For Sale
$550,000
743 Belmont Street, Manchester, NH 03104
Two residential units provide separate utilities, flexible layouts, and an enclosed porch for additional usable space.
Property Size2,388 SF
Price / SF$230.32
Days on Market4
Property Features for 743 Belmont Street
General Information
Standard status
Active
Size
2,388 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
1040 2 family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,634
Amenities
enclosed porch
Building Details
Year Built
1910
Stories
2
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Kristi Whitten
(603) 232-8282
Source:
Laerrealty
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 3:49AM
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 Keller Williams Realty-Metropolitan
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains 2,388 square feet arranged across two residential units. Each unit offers a flexible layout and separate utilities, supporting independent household use. The property also includes a 2-car garage and an enclosed porch, adding functional space beyond the primary living areas.
Located at 743 Belmont Street in Manchester, the property is within walking distance of Derryfield Park. Zoning is identified as 1040 2 family. The two-unit configuration, garage, porch, and separate utilities provide a straightforward physical setup for an owner-occupant or residential income property buyer.
Located at 743 Belmont Street in Manchester, the property is within walking distance of Derryfield Park. Zoning is identified as 1040 2 family. The two-unit configuration, garage, porch, and separate utilities provide a straightforward physical setup for an owner-occupant or residential income property buyer.
Key Highlights
- 2,388‑square‑foot duplex with two residential units
- Separate utilities serve each unit
- 2‑car garage included
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
$32,225
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
5.86%
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%
$644,500
$644.5K
Cap Rate 7%
$460,357
$460.4K
Cap Rate 9%
$358,056
$358.1K
Market Conditions
NOI Build-Up for 2,388 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
$48.7K $20.40/SF
− Vacancy
−$2.7K −$1.12/SF
EGI
$46.0K $19.28/SF
− OpEx
−$13.8K −$5.78/SF
NOI
$32.2K $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%
$644,500
Cap Rate 7%
$460,357
Cap Rate 9%
$358,056
Alternative Uses
Best Use
Multifamily LT 5
$460.4K
$402.8K – $537.1K
NOI $32,225 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$428.7K
$375.1K – $500.2K
NOI $30,009 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$586.4K
$513.1K – $684.2K
NOI $41,050 @ 7.0% cap · market cap 7.46%
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
464
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 residential units provide separate utilities, flexible layouts, and an enclosed porch for additional usable space.
Where is this duplex located?
The property is located at 743 Belmont Street Manchester, NH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,388‑square‑foot duplex with two residential units; Separate utilities serve each unit; 2‑car garage included
