Waterfront Apartment
New
For Sale
$1,200,000
96 Church Street, Laconia, NH 03246
Multi-Family, Laconia, NH
Property Size5,719 SF
Lot Size0.37 Acres
Price / SF$209.83
Days on Market2
Property Features for 96 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
UC
Rooms
Basement
Parking features
On Street, Off Street
Patio and Porch features
Porch, Deck
Exterior features
Balcony, Deck, Garden Space, Handicap Modified, Outbuilding, Porch, Covered Porch, Private Dock, Rack, Sauna, Boat Slip/Dock, Docks
Accessibility
Accessible Approach with Ramp
Lot features
City Lot, View, In Town
Directions
I-93 to Exit 20, Rte 3/11 East approx 8 mi through Tilton and Belmont into Laconia. Rte 3 becomes Main St; continue through downtown, left onto Church St (Rte 44). Property on right at corner of Church and River St, just before the bridge.
Standard status
Active
Size
5,719 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8223
Utilities
Utilities
Cable Available
Heating system
Steam, Hot Water(Heating), Natural Gas
Water source
Public
Water front
1
Amenities
dock
waterfront patio
fire pit
cupola
treehouse
Building Details
Year built
1884
Floors in Building
3
Number of units
13
Flooring type
Hardwood, Carpet
Building materials
Wood Frame, Vinyl Siding
Roof type
Membrane, Shingle, Metal
Architectural style
Victorian
Additional Structures
Outbuilding
Listing Agency:
KW Coastal and Lakes & Mountains Realty/Meredith · Keller Williams Realty
(603) 569-4663
Listed By:
Shannon Casey · License #072839
(603) 610-8500
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 10:06PM
MLS# 5107548
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.
Investment Insights
Based on property information with market context.
Built in 1884, this three-story Victorian apartment property contains 5,719 finished square feet, 19 rooms, 13 bedrooms, and 5 full baths plus a half bath. The layout is city-approved for 14 units and currently operates as a rooming house. Original architectural features include ornate woodwork, stained glass, hardwood flooring, classic millwork, and a mansard roofline. The property is positioned on a 0.37-acre corner lot with direct frontage on Lake Opechee, water views, a private dock, waterfront patio, fire pit, and paddle-out access.
Recent mechanical updates include dual natural-gas heating systems, all-new radiators installed four months ago, and domestic hot water equipment installed roughly six months ago. The building uses city water and city sewer, with breakers and a camera system in place. Approximately 3,300 square feet of paved parking serves the property. Additional features include a cupola, crow's nest, treehouse, porch, deck, garden space, and outbuilding. Zoning is UC, and downtown Laconia is nearby.
Recent mechanical updates include dual natural-gas heating systems, all-new radiators installed four months ago, and domestic hot water equipment installed roughly six months ago. The building uses city water and city sewer, with breakers and a camera system in place. Approximately 3,300 square feet of paved parking serves the property. Additional features include a cupola, crow's nest, treehouse, porch, deck, garden space, and outbuilding. Zoning is UC, and downtown Laconia is nearby.
Key Highlights
- 5,719 finished SF across three stories with 19 rooms, 13 bedrooms, and 5 full baths plus a half
- City‑approved layout for 14 units; currently operating as a rooming house
- 0.37‑acre corner lot with direct water frontage on Lake Opechee
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
$76,729
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
6.39%
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%
$1,534,580
$1.5M
Cap Rate 7%
$1,096,129
$1.1M
Cap Rate 9%
$852,544
$852.5K
Market Conditions
NOI Build-Up for 5,719 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
$144.1K $25.20/SF
− Vacancy
−$4.6K −$0.81/SF
EGI
$139.5K $24.39/SF
− OpEx
−$62.8K −$10.98/SF
NOI
$76.7K $13.42/SF
Area
Belknap County, NH
Vacancy
3.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,534,580
Cap Rate 7%
$1,096,129
Cap Rate 9%
$852,544
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$959.1K – $1.28M
NOI $76,729 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,201 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,297
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic Victorian property with an approved multifamily layout and direct water access.
Where is this apartment building located?
The property is located at 96 Church Street Laconia, NH.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,719 finished SF across three stories with 19 rooms, 13 bedrooms, and 5 full baths plus a half; City‑approved layout for 14 units; currently operating as a rooming house; 0.37‑acre corner lot with direct water frontage on Lake Opechee
