Georgian-Style Duplex with Private
For Sale
$589,000
754 Rimmon St, Manchester, NH 03102
Vacant two-family property with separate utilities, fenced outdoor space, and flexible bonus rooms in each residence.
Property Size2,734 SF
Price / SF$215.44
Days on Market10
Property Features for 754 Rimmon St
General Information
Standard status
Active
Size
2,734 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,556
Amenities
fenced yard
patio
storage shed
full basement
third-floor walk-up attic
private off-street parking
Building Details
Buildings
1
Construction
Georgian-style
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
The Coa Group
(603) 377-6698
Source:
Exprealty
Added: Sep 16
Changed: Sep 21
Last Checked: Sep 24 at 10:20AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 1912, this Georgian-style duplex includes two residences with matching layouts of 7 rooms, 3 bedrooms, and a bonus room per unit. Architectural details include substantial entry pillars, hardwood flooring, and strong natural light. Each residence has separate natural gas heat, hot water, and utility service. The property also includes a full basement, third-floor walk-up attic, storage shed, patio, fenced yard, and private off-street parking.
Located at 754 Rimmon St in Manchester, the property offers highway access and a neighborhood setting. It is zoned RES and will be delivered vacant at closing. The existing configuration supports owner occupancy, investment use, or leasing to independently selected tenants.
Located at 754 Rimmon St in Manchester, the property offers highway access and a neighborhood setting. It is zoned RES and will be delivered vacant at closing. The existing configuration supports owner occupancy, investment use, or leasing to independently selected tenants.
Key Highlights
- Two residences, each with 7 rooms, 3 bedrooms, and a bonus room
- Separate natural gas heat, hot water, and utilities for each unit
- Built in 1912 with Georgian‑style architectural details and hardwood floors
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
$36,894
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
6.26%
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%
$737,880
$737.9K
Cap Rate 7%
$527,057
$527.1K
Cap Rate 9%
$409,933
$409.9K
Market Conditions
NOI Build-Up for 2,734 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
$55.8K $20.40/SF
− Vacancy
−$3.1K −$1.12/SF
EGI
$52.7K $19.28/SF
− OpEx
−$15.8K −$5.78/SF
NOI
$36.9K $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%
$737,880
Cap Rate 7%
$527,057
Cap Rate 9%
$409,933
Alternative Uses
Best Use
Multifamily LT 5
$527.1K
$461.2K – $614.9K
NOI $36,894 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$490.8K
$429.5K – $572.6K
NOI $34,357 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$671.4K
$587.5K – $783.3K
NOI $46,997 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
Business Placement
Demographics for 03102, NH
33,396
Population
15,264
Households
2.2
Avg Household Size
36
Median Age
33%
College-Educated
89%
High-School Grad
9.1 sq mi
ZIP Area
3,670
Density / Sq Mi
$69,927
Median Household Income
$43,518
Median Earnings
$1,533
Median Rent
$309,400
Median Home Value
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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?
Duplex - Vacant two-family property with separate utilities, fenced outdoor space, and flexible bonus rooms in each residence.
Where is this duplex located?
The property is located at 754 Rimmon St Manchester, NH.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Two residences, each with 7 rooms, 3 bedrooms, and a bonus room; Separate natural gas heat, hot water, and utilities for each unit; Built in 1912 with Georgian‑style architectural details and hardwood floors
