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    Two-Unit Residential Income Duplex Title is generated by Realmo AI

    852 Clay Street, Manchester, NH 03103

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    For Sale
    $520,000

    MULTI_FAMILY - Other - Manchester, NH

    Property size:
    2,100 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $247/SF
    Added:
    May 27, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 852 Clay Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 4, Basement, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2
    Patio and Porch features
    Deck
    Exterior features
    Deck
    Standard status
    Active
    Size
    2,100 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    6593

    Utilities

    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Laminate, Carpet, Hardwood
    Building materials
    Wood Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Erin Colburn

    Listing agent Erin Colburn

    Listing office Coldwell Banker Realty Nashua 569B Amherst St., Bedford, NH

    Listing date May 27, 2026

    MLS# 5091290 Listing URL

    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.

    HighLights

    • 2‑family home built in 1940 with wood‑frame construction and shingle roof
    • First‑floor unit: 3 bedrooms and 1 full bathroom with eat‑in kitchen and living room
    • Second‑floor unit: 1 bedroom with a large eat‑in kitchen and comfortable living room
    • Full basement with two separate laundry areas and ample storage space
    • Utilities and services include natural gas heating and public water
    • Exterior features include a deck and off‑street parking for up to 3 vehicles

    Overview

    This two-family duplex provides two distinct residential units with separate layouts. The first-floor unit is a 3-bedroom apartment with a full bathroom, eat-in kitchen, and a bright living room designed for day-to-day family use. The second-floor unit is a 1-bedroom home with a large eat-in kitchen, a generously sized bedroom, and a comfortable living room.

    The property includes a full basement offering substantial storage space, along with two separate laundry areas. Off-street parking is available for up to three vehicles, and there is also a yard area for outdoor enjoyment. The lot is listed at 0.17 acres.

    This configuration supports common owner-occupant and investor strategies, with the option to live in one unit while renting the other or to operate the building as a multi-unit investment. The combination of unit-level functionality, in-building laundry areas, basement storage, and practical parking makes it straightforward to manage as a residential income property.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $42.8k $20.40
    − Vacancy −$2.4k −$1.12
    EGI $40.5k $19.28
    − OpEx −$12.1k −$5.78
    NOI $28.3k $13.49
    2,100 SF · lease $20.40/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $404.8K
    $354.2K – $472.3K (±1% cap)
    NOI $28,339 @ 7.0% cap · market cap 5.45%
    Second Best
    Apartment 5plus
    $377.0K
    $329.9K – $439.8K (±1% cap)
    NOI $26,389 @ 7.0% cap · market cap 5.07%
    Theoretical Best
    Specialty Retail
    $515.7K
    $451.2K – $601.7K (±1% cap)
    NOI $36,099 @ 7.0% cap · market cap 6.94%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply 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
    -71.44126
    Latitude
    42.975746

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    FAQs

    What type of property is this?
    Duplex - Well-laid duplex with two separate units, full basement, and off-street parking for up to three vehicles.
    Where is this duplex located?
    The property is located at 852 Clay Street Manchester, NH.
    What is the asking price?
    The asking price for this property is $520,000.
    What are key features of this property?
    This property features: 2‑family home built in 1940 with wood‑frame construction and shingle roof; First‑floor unit: 3 bedrooms and 1 full bathroom with eat‑in kitchen and living room; Second‑floor unit: 1 bedroom with a large eat‑in kitchen and comfortable living room
    (603) 848-9559
    We can help!
    Listing Contact
    Erin Colburn
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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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