Side-by-Side
For Sale
$500,000
Pending
8 Patricia St, Somersworth, NH 03878
Two occupied units offer separate heating, private driveways, and individual basement space.
Property Size2,220 SF
Days on Market110
Property Features for 8 Patricia St
General Information
Standard status
Pending
Size
2,220 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 3BR, 1 x 4BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,890
Amenities
private driveways
individual basements
spacious yard
low-maintenance vinyl siding
replacement windows
updated electrical panels
Building Details
Buildings
1
Construction
ranch-style
Tenancy
Multi
Listing Agency:
EXP Realty
(603) 300-8702
Listed By:
Heather Kretschmar · License #59937
(603) 300-8702
Source:
Exprealty
Added: May 15
Changed: Aug 30
Last Checked: Aug 31 at 6:05PM
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
Investment Insights
Based on property information with market context.
Located at 8 Patricia St in Somersworth, NH, this ranch-style duplex contains 2,220 SF arranged as side-by-side three- and four-bedroom units. Each residence has its own heating system, driveway, and basement. The property also includes a spacious yard, vinyl siding, replacement windows, and updated electrical panels.
Both units are occupied under month-to-month leases, creating flexibility for an investor or a future owner-occupant. The two-unit layout and separate access points provide a practical residential income configuration.
Both units are occupied under month-to-month leases, creating flexibility for an investor or a future owner-occupant. The two-unit layout and separate access points provide a practical residential income configuration.
Key Highlights
- 2,220 SF ranch‑style duplex at 8 Patricia St, Somersworth, NH
- Side‑by‑side units with three- and four‑bedroom layouts
- Separate heating systems, private driveways, and individual basements
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
$22,536
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
4.51%
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%
$450,720
$450.7K
Cap Rate 7%
$321,943
$321.9K
Cap Rate 9%
$250,400
$250.4K
Market Conditions
NOI Build-Up for 2,220 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
$33.3K $15.00/SF
− Vacancy
−$1.1K −$0.50/SF
EGI
$32.2K $14.50/SF
− OpEx
−$9.7K −$4.35/SF
NOI
$22.5K $10.15/SF
Area
Strafford County, NH
Vacancy
3.32%
Lease Rate
$15.00 /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%
$450,720
Cap Rate 7%
$321,943
Cap Rate 9%
$250,400
Alternative Uses
Best Use
Multifamily LT 5
$321.9K
$281.7K – $375.6K
NOI $22,536 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$296.9K
$259.8K – $346.4K
NOI $20,785 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$593.9K
$519.7K – $692.9K
NOI $41,574 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 03878, NH
11,919
Population
5,722
Households
2.1
Avg Household Size
40
Median Age
29%
College-Educated
95%
High-School Grad
9.8 sq mi
ZIP Area
1,216
Density / Sq Mi
$79,691
Median Household Income
$47,638
Median Earnings
$1,410
Median Rent
$295,200
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 occupied units offer separate heating, private driveways, and individual basement space.
Where is this duplex located?
The property is located at 8 Patricia St Somersworth, NH.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,220 SF ranch‑style duplex at 8 Patricia St, Somersworth, NH; Side‑by‑side units with three- and four‑bedroom layouts; Separate heating systems, private driveways, and individual basements
