Two-Unit Duplex with Detached
For Sale
$319,900
Pending
9-11 South Street, Somersworth, NH 03878
Historic R3 property combines a three-bedroom main residence with a smaller apartment and private outdoor space.
Property Size1,973 SF
Days on Market225
Property Features for 9-11 South Street
General Information
Standard status
Pending
Size
1,973 SF
Property subtype
Multi Family
Zoning
R3
Property Condition
Severity
Repairs Needed
Evidence
still needs some finishing touches
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,091
Amenities
three season porch
laundry room
extra storage
private backyard
Natural Gas, Baseboard
Yes
1
2
Interior
Concrete, Concrete Floor, Unfinished
Asphalt Shingle
Wood Frame
Building Details
Year Built
1850
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
(603) 610-8500
Listed By:
Jeremiah Gordon
(603) 610-8500
Source:
Compass
Added: Jan 19
Changed: Aug 31
Last Checked: Aug 31 at 1:31PM
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 Keller Williams Coastal and Lakes & Mountains Realty
Investment Insights
Based on property information with market context.
Built in 1850, this two-unit home includes a three-bedroom, two-bathroom primary apartment and a separate one-bedroom, one-bathroom unit on a single level. The larger residence features a kitchen, dedicated laundry room, living room, full bath with tiled tub surround, and a three-season porch. The smaller apartment has washer and dryer hookups, has been mostly renovated, and requires finishing work.
The property includes natural gas baseboard heat, a detached one-car garage with additional carport or open garage space, and parking at the bottom of the driveway. A small private backyard offers room for outdoor seating, gardens, or a swing set. The property is zoned R3 and located at 9-11 South Street in Somersworth, New Hampshire.
The property includes natural gas baseboard heat, a detached one-car garage with additional carport or open garage space, and parking at the bottom of the driveway. A small private backyard offers room for outdoor seating, gardens, or a swing set. The property is zoned R3 and located at 9-11 South Street in Somersworth, New Hampshire.
Key Highlights
- Two‑unit duplex with a 3‑bedroom, 2‑bathroom primary apartment
- Separate 1‑bedroom, 1‑bathroom single‑floor apartment
- Smaller unit is mostly renovated and includes washer and dryer hookups
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
$20,029
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
6.26%
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%
$400,580
$400.6K
Cap Rate 7%
$286,129
$286.1K
Cap Rate 9%
$222,544
$222.5K
Market Conditions
NOI Build-Up for 1,973 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
$29.6K $15.00/SF
− Vacancy
−$983 −$0.50/SF
EGI
$28.6K $14.50/SF
− OpEx
−$8.6K −$4.35/SF
NOI
$20.0K $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%
$400,580
Cap Rate 7%
$286,129
Cap Rate 9%
$222,544
Alternative Uses
Best Use
Multifamily LT 5
$286.1K
$250.4K – $333.8K
NOI $20,029 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$263.9K
$230.9K – $307.9K
NOI $18,472 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$527.8K
$461.9K – $615.8K
NOI $36,949 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
376
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 - Historic R3 property combines a three-bedroom main residence with a smaller apartment and private outdoor space.
Where is this duplex located?
The property is located at 9-11 South Street Somersworth, NH.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Two‑unit duplex with a 3‑bedroom, 2‑bathroom primary apartment; Separate 1‑bedroom, 1‑bathroom single‑floor apartment; Smaller unit is mostly renovated and includes washer and dryer hookups
