Two-Unit Duplex with Outdoor
For Sale
$515,000
89-91 Old Dover Rd, Rochester, NH 03867
Single-level residences feature individual driveways and dedicated outdoor areas adjoining a fenced backyard.
Property Size1,488 SF
Lot Size0.27 Acres
Price / SF$346.10
Days on Market13
Property Features for 89-91 Old Dover Rd
General Information
Standard status
Active
Size
1,488 SF
Lot size
0.27 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
rear decks or patios
fenced-in yard
detached storage shed
Building Details
Year Built
1962
Buildings
1
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Rochester
Listed By:
The Zoeller Group
(603) 610-8560
Source:
Uppervalleyhomesnhvt
Added: Sep 15
Changed: Sep 19
Last Checked: Sep 26 at 7:18AM
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 KW Coastal and Lakes & Mountains Realty/Rochester
Investment Insights
Based on property information with market context.
This 1962 duplex contains two single-level residences, each offering 744 square feet with two bedrooms and one bathroom. The units include separate living areas, functional kitchens with cabinetry, and bedrooms with natural light. Hardwood-style flooring appears in the living spaces, along with updated interior details.
Each residence has its own driveway and outdoor area, with rear decks or patios extending toward the backyard. The property encompasses 0.27 acres and includes a fenced yard, wooded rear setting, and detached storage shed. Located at 89-91 Old Dover Road in Rochester, New Hampshire, the duplex provides two distinct residential layouts within one property.
Each residence has its own driveway and outdoor area, with rear decks or patios extending toward the backyard. The property encompasses 0.27 acres and includes a fenced yard, wooded rear setting, and detached storage shed. Located at 89-91 Old Dover Road in Rochester, New Hampshire, the duplex provides two distinct residential layouts within one property.
Key Highlights
- Two 2‑bedroom, 1‑bath units, each with 744 square feet of living space
- 1,488‑square‑foot duplex built in 1962
- Each unit has its own driveway and outdoor area
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
$15,105
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
2.93%
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%
$302,100
$302.1K
Cap Rate 7%
$215,786
$215.8K
Cap Rate 9%
$167,833
$167.8K
Market Conditions
NOI Build-Up for 1,488 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
$22.3K $15.00/SF
− Vacancy
−$741 −$0.50/SF
EGI
$21.6K $14.50/SF
− OpEx
−$6.5K −$4.35/SF
NOI
$15.1K $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%
$302,100
Cap Rate 7%
$215,786
Cap Rate 9%
$167,833
Alternative Uses
Best Use
Multifamily LT 5
$215.8K
$188.8K – $251.8K
NOI $15,105 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$199.0K
$174.1K – $232.2K
NOI $13,931 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$398.1K
$348.3K – $464.4K
NOI $27,866 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Explore this area
Business Placement
Demographics for 03867, NH
22,369
Population
10,458
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
93%
High-School Grad
28.4 sq mi
ZIP Area
788
Density / Sq Mi
$74,397
Median Household Income
$42,613
Median Earnings
$1,217
Median Rent
$259,200
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?
Duplex - Single-level residences feature individual driveways and dedicated outdoor areas adjoining a fenced backyard.
Where is this duplex located?
The property is located at 89-91 Old Dover Rd Rochester, NH.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units, each with 744 square feet of living space; 1,488‑square‑foot duplex built in 1962; Each unit has its own driveway and outdoor area
