Renovated Triplex with
For Sale
$949,000
970 Kearsarge Road, Conway, NH 03860
MULTI_FAMILY - Other - Conway, NH
Property Size3,056 SF
Lot Size0.80 Acres
Price / SF$310.54
Days on Market305
Property Features for 970 Kearsarge Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Rooms
Basement
Lot features
Level, Mountain View
Directions
GPS friendly
Standard status
Active
Size
3,056 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8050
Utilities
Heating system
Baseboard, Propane (Heating), Heat Pump (Heating), Ductless (Heating)
Cooling system
Zoned, Ductless
Water source
Public
Amenities
firepit
hot tub
deck
privacy fence
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Building materials
Vinyl Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
REAL Broker NH, LLC
(855) 450-0442
Listed By:
Christopher Scheffler
(855) 450-0442
Added: Oct 10, 2025
Changed: Aug 4
Last Checked: Aug 10 at 6:06PM
MLS# 5065383
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.
970 Kearsarge Road is a renovated triplex-style property with a main home plus two attached studio apartments, offering flexibility for guests, rental income, or multi-generational living. The main home includes five bedrooms and three bathrooms, including a first-floor bedroom. The layout features a farmhouse-style kitchen with granite counters and a laundry area. The primary suite offers a private mountain-view deck, a cozy fireplace, and an en suite bath with a Jacuzzi tub and separate shower.
Outside, enjoy a patio with a firepit and hot tub, along with privacy fencing. The property sits on 0.8 acres and provides over 3,000 square feet of living space. Built in 1900, it’s improved with vinyl siding and a metal roof. Heating includes a heat pump, baseboard, ductless units, and propane. Cooling is zoned and ductless, and water service is public.
Located within the Kearsarge Lighting Precinct, the home is minutes from downtown North Conway, Cranmore Mountain Resort, hiking trails, rivers, shopping, and dining.
Outside, enjoy a patio with a firepit and hot tub, along with privacy fencing. The property sits on 0.8 acres and provides over 3,000 square feet of living space. Built in 1900, it’s improved with vinyl siding and a metal roof. Heating includes a heat pump, baseboard, ductless units, and propane. Cooling is zoned and ductless, and water service is public.
Located within the Kearsarge Lighting Precinct, the home is minutes from downtown North Conway, Cranmore Mountain Resort, hiking trails, rivers, shopping, and dining.
Key Highlights
- 0.8‑acre property with over 3,056 SF of living space
- Main home offers five bedrooms and three bathrooms, including a first‑floor bedroom
- Two attached studio apartments, each with a full kitchen and bath
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
$35,547
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
3.75%
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%
$710,940
$710.9K
Cap Rate 7%
$507,814
$507.8K
Cap Rate 9%
$394,967
$395.0K
Market Conditions
NOI Build-Up for 3,056 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
$53.2K $17.40/SF
− Vacancy
−$2.4K −$0.78/SF
EGI
$50.8K $16.62/SF
− OpEx
−$15.2K −$4.99/SF
NOI
$35.5K $11.63/SF
Area
Carroll County, NH
Vacancy
4.50%
Lease Rate
$17.40 /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%
$710,940
Cap Rate 7%
$507,814
Cap Rate 9%
$394,967
Alternative Uses
Best Use
Multifamily LT 5
$507.8K
$444.3K – $592.5K
NOI $35,547 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$449.3K
$393.1K – $524.2K
NOI $31,449 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$763.1K
$667.7K – $890.3K
NOI $53,415 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Explore this area
Business Placement
Demographics for 03860, NH
3,910
Population
3,169
Households
1.2
Avg Household Size
53
Median Age
40%
College-Educated
95%
High-School Grad
23.2 sq mi
ZIP Area
169
Density / Sq Mi
$81,771
Median Household Income
$45,915
Median Earnings
$1,094
Median Rent
$328,500
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?
Triplex - Renovated triplex on public water with a five-bedroom main home and two attached studio apartments, zoned RA.
Where is this triplex located?
The property is located at 970 Kearsarge Road Conway, NH.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 0.8‑acre property with over 3,056 SF of living space; Main home offers five bedrooms and three bathrooms, including a first‑floor bedroom; Two attached studio apartments, each with a full kitchen and bath
