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    Updated Two-Family Home, North End Title is generated by Realmo AI

    78 Pennacook St, Manchester, NH 03104

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    For Sale
    $637,500

    Updated two-family home in desirable North End location.

    Type:Investment
    Added:
    May 19, 2026
    Days on Market:
    14
    Last Refresh:
    May 19 at 2:51 am

    Property Features for 78 Pennacook St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Deborah M Capistran

    Listing agent Deborah M Capistran

    Listing office Erwin Real Estate LLC

    Listing date May 19, 2026

    Source Elliman

    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 Erwin Real Estate LLC

    HighLights

    • Updated 2‑family home in a desirable North End location with a Walk Score of 91 (Walker's Paradise).
    • First‑floor unit features a 3rd bedroom with a private staircase and a large eat‑in kitchen with a private screened‑in porch.
    • Both units have updated kitchens with new stainless steel appliances, gas ranges, walk‑in showers, and in‑unit washer/dryer hookups.
    • Includes a 2‑car garage (to be painted for COC) with potential for additional living space/income above (buyer to verify).
    • Second‑floor unit has new cabinets and a private deck.
    • Updated electric and vinyl replacement windows throughout the property.

    Overview

    This newly updated two-family home is located in the desirable North End. The first floor features a third bedroom with a private staircase and a large eat-in kitchen. A private screened-in porch enhances comfort and provides outdoor living space. Character is evident throughout the home, with built-in features and a sliding barn door. Both units include washer and dryer hook-ups and walk-in showers. Vinyl replacement windows are installed throughout. The kitchens have been updated with new stainless steel appliances and gas ranges, and the electric has been updated. The second-floor one-bedroom unit features new cabinets and its own deck. A two-car garage is present, with potential for an additional unfinished room above, offering storage or possible additional income/unit/extra living space, subject to buyer verification with the city. The property offers ample parking and a great side yard. This property is ideal for an owner-occupant, multi-generational living, or investment purposes. The location has a walk score of 91, indicating it is a walker's paradise, and a bike score of 37, indicating it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Merrimack
    State
    New Hampshire
    Longitude
    -71.4603613
    Latitude
    43.0019559

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    FAQs

    What type of property is this?
    Duplex - Updated two-family home in desirable North End location.
    Where is this duplex located?
    The property is located at 78 Pennacook St Manchester, NH.
    What is the asking price?
    The asking price for this property is $637,500.
    What are key features of this property?
    This property features: Updated 2‑family home in a desirable North End location with a Walk Score of 91 (Walker's Paradise).; First‑floor unit features a 3rd bedroom with a private staircase and a large eat‑in kitchen with a private screened‑in porch.; Both units have updated kitchens with new stainless steel appliances, gas ranges, walk‑in showers, and in‑unit washer/dryer hookups.
    (603) 785-4020
    We can help!
    Listing Contact
    Deborah M Capistran
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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