Updated Four-Unit
For Sale
$699,900
88 Bowman St, Laconia, NH 03246
Remodeled residential income property with varied unit layouts, in-unit laundry, and unfinished attic and basement areas.
Property Size3,864 SF
Price / SF$181.13
Days on Market42
Property Features for 88 Bowman St
General Information
Standard status
Active
Size
3,864 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1.5BA, 1 x 2BR/1BA, 1 x 1-2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,892
Amenities
in-unit washer/dryer
Building Details
Year Renovated
2022
Buildings
1
Listing Agency:
EXP Realty
(703) 861-4243
Listed By:
Jacqueline C Byrd
(703) 861-4243
Source:
Exprealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 8:16PM
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.
This four-unit residential income property includes a mix of two- and three-bedroom apartments, plus a flexible one- to two-bedroom unit. The ground floor contains three-bedroom and two-bedroom apartments, while the upper level offers another two-bedroom unit and the flexible layout. All four apartments received remodeling work in 2022 and include in-unit washers and dryers with updated appliances.
An unfinished attic serves the two upper apartments, while the full unfinished basement contains updated electrical panels with GFCI breakers, a maintained boiler system, and newer electric water heaters. The units are currently rented, and the property is located near downtown Laconia.
An unfinished attic serves the two upper apartments, while the full unfinished basement contains updated electrical panels with GFCI breakers, a maintained boiler system, and newer electric water heaters. The units are currently rented, and the property is located near downtown Laconia.
Key Highlights
- Four‑unit property with two- and three‑bedroom layouts
- All four units remodeled in 2022
- In‑unit washer and dryer provided in every 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
$56,379
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
8.06%
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%
$1,127,580
$1.1M
Cap Rate 7%
$805,414
$805.4K
Cap Rate 9%
$626,433
$626.4K
Market Conditions
NOI Build-Up for 3,864 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
$83.5K $21.60/SF
− Vacancy
−$2.9K −$0.76/SF
EGI
$80.5K $20.84/SF
− OpEx
−$24.2K −$6.25/SF
NOI
$56.4K $14.59/SF
Area
Belknap County, NH
Vacancy
3.50%
Lease Rate
$21.60 /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%
$1,127,580
Cap Rate 7%
$805,414
Cap Rate 9%
$626,433
Alternative Uses
Best Use
Multifamily LT 5
$805.4K
$704.7K – $939.7K
NOI $56,379 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$740.6K
$648.0K – $864.0K
NOI $51,841 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$918.9K
$804.0K – $1.07M
NOI $64,322 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 03246, NH
16,905
Population
10,426
Households
1.6
Avg Household Size
47
Median Age
25%
College-Educated
93%
High-School Grad
19.9 sq mi
ZIP Area
849
Density / Sq Mi
$68,407
Median Household Income
$40,504
Median Earnings
$1,180
Median Rent
$307,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled residential income property with varied unit layouts, in-unit laundry, and unfinished attic and basement areas.
Where is this quadplex located?
The property is located at 88 Bowman St Laconia, NH.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four‑unit property with two- and three‑bedroom layouts; All four units remodeled in 2022; In‑unit washer and dryer provided in every apartment
