Two-Unit Duplex with
New
For Sale
$550,000
743 Belmont Street, Manchester, NH 03104
Multi-Family, Manchester, NH
Property Size2,388 SF
Lot Size0.11 Acres
Price / SF$230.32
Days on Market4
Property Features for 743 Belmont Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
1040 2 family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking features
Off Street
Lot features
City Lot
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Directions
Bridge St to Belmont St
Standard status
Active
Size
2,388 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6634
Utilities
Utilities
Cable Available
Heating system
Steam
Water source
Public
Amenities
enclosed porch
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty-Metropolitan
(603) 232-8282
Listed By:
Kristi Whitten
(603) 232-8282
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 21 at 1:06AM
MLS# 5105533
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1910, this 2,388-square-foot wood-frame duplex contains two units with flexible layouts, separate utilities, and steam heat. The property also includes a two-car garage, off-street parking, an enclosed porch, a basement, a shingle roof, and public water service. Cable is available.
Set at 743 Belmont Street in Manchester, the property is within walking distance of Derryfield Park. The 0.11-acre site is zoned “1040 2 family,” supporting its existing two-unit configuration. Separate living spaces and utility arrangements provide a straightforward setup for continued residential income use or occupancy of one unit while leasing the other.
Set at 743 Belmont Street in Manchester, the property is within walking distance of Derryfield Park. The 0.11-acre site is zoned “1040 2 family,” supporting its existing two-unit configuration. Separate living spaces and utility arrangements provide a straightforward setup for continued residential income use or occupancy of one unit while leasing the other.
Key Highlights
- Two‑unit duplex with 2,388 square feet of building area
- Two‑car garage, off‑street parking, and enclosed porch
- Separate utilities serve the two units
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 - Separate utilities, flexible unit layouts, and an enclosed porch support owner-occupant or rental use.
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: Two‑unit duplex with 2,388 square feet of building area; Two‑car garage, off‑street parking, and enclosed porch; Separate utilities serve the two units
