Renovated Three-Unit Multifamily
New
For Sale
$850,000
747 Beech Street, Manchester, NH 03104
Multi-Family, Manchester, NH
Property Size3,223 SF
Lot Size0.14 Acres
Price / SF$263.73
Days on Market1
Property Features for 747 Beech Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 7, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 8, Bathroom 3, Basement, Bedroom 1, Bedroom 4, Bedroom 6
Patio and Porch features
Porch, Deck
Exterior features
Deck, Porch, Storage
Lot features
City Lot, Level
Elementary school
Smyth Road School
Middle school
Hillside Middle School
High school
Manchester Central High Sch
Elementary school district
Manchester Sch Dst SAU #37
Middle school district
Manchester Sch Dst SAU #37
High school district
Manchester Sch Dst SAU #37
Standard status
Active
Size
3,223 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6702
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
in-unit laundry
off-street parking
garage
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Flooring type
Vinyl
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Keller Williams Realty-Metropolitan
Listed By:
Chelsea Leveille
(603) 232-8282
Added: Sep 17
Last Checked: Sep 17 at 8:06PM
MLS# 5110281
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.
This 3,223-square-foot triplex contains two three-bedroom apartments and one two-bedroom apartment. Each unit includes its own laundry, while updated finishes, vinyl flooring, a third-floor addition, and a comprehensive renovation support a lower-maintenance operating profile. The building also provides storage, a garage, porch, and deck. Wood-frame construction with vinyl siding, a shingle roof, natural-gas heating, and public water complete the physical improvements.
The property sits on 0.14 acres in Manchester, New Hampshire, with residential zoning. Built in 1920, it offers a three-unit configuration with a 9%+ cap rate indicated in the listing information. The combination of unit variety, individual laundry, parking, and renovated building components supports both investor and owner-occupant use.
The property sits on 0.14 acres in Manchester, New Hampshire, with residential zoning. Built in 1920, it offers a three-unit configuration with a 9%+ cap rate indicated in the listing information. The combination of unit variety, individual laundry, parking, and renovated building components supports both investor and owner-occupant use.
Key Highlights
- 3,223‑square‑foot triplex with two three‑bedroom units and one two‑bedroom unit
- Comprehensive renovation with a third‑floor addition
- Private laundry provided in each apartment
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
$43,493
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
5.12%
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%
$869,860
$869.9K
Cap Rate 7%
$621,329
$621.3K
Cap Rate 9%
$483,256
$483.3K
Market Conditions
NOI Build-Up for 3,223 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
$65.7K $20.40/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$62.1K $19.28/SF
− OpEx
−$18.6K −$5.78/SF
NOI
$43.5K $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%
$869,860
Cap Rate 7%
$621,329
Cap Rate 9%
$483,256
Alternative Uses
Best Use
Multifamily LT 5
$621.3K
$543.7K – $724.9K
NOI $43,493 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$578.6K
$506.3K – $675.0K
NOI $40,502 @ 7.0% cap · market cap 4.76%
Theoretical Best
Specialty Retail
$791.5K
$692.5K – $923.4K
NOI $55,403 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,349
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
Check the figures for this property
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?
Triplex - Three apartments combine updated interiors, private laundry, outdoor areas, and off-street parking in a residential Manchester property.
Where is this triplex located?
The property is located at 747 Beech Street Manchester, NH.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,223‑square‑foot triplex with two three‑bedroom units and one two‑bedroom unit; Comprehensive renovation with a third‑floor addition; Private laundry provided in each apartment
