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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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463 Lake Ave , Manchester, NH 03103
$515,000
Est. Payment: $1,144.44/mo
4 Bed
2 Bath
2028 Sqft
Status: Active | Days on site: 1
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5996 - 620367
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House Description

Turnkey duplex in Manchester’s Hanover Hill neighborhood, offering two well-maintained 2-bedroom, 1-bathroom units with functional layouts, stainless steel appliances, and durable vinyl plank flooring. Both units feature washer/dryer hookups, separate electric water heaters, and independent natural gas boilers. Tenants are responsible for heat, hot water, and electricity, while the landlord pays public water and sewer. The property is conveniently located with easy access to Downtown Manchester and Elm Street, the South Willow Street commercial district, and Elliot Hospital. Downtown’s restaurants, shops, and entertainment are just minutes away, while the South Willow Street corridor provides convenient access to a wide variety of retail, dining, and everyday amenities. Elliot Hospital is less than a mile from the property, adding further appeal for healthcare professionals and hospital employees. The current owner has taken excellent care of the property, which features a 1-year-old roof, vinyl windows, and a clean, dry basement. A paved driveway and side parking area provide off-street parking for at least two vehicles, with the potential for up to four vehicles with tandem parking. The property is intentionally being marketed vacant, providing an owner-occupant or investor with the opportunity to take immediate possession and select their own tenants. The units were most recently rented for $1,875/month on the first floor and $1,850/month on the second floor. Pro forma financials reflect ~$45,000 in annual gross revenue and ~$29,000 in net income after operating expenses. Whether you are looking to expand your portfolio or owner-occupy, 463 Lake Avenue offers a rare turnkey opportunity in a convenient location. With proximity to Downtown, the South Willow commercial district, and Elliot Hospital, combined with a well-maintained property and established rental history, this duplex is ready for its next owner.

Highlights

Listed by Nick Gray , 603-637-4812 Gray Property Group, LLC , 603-637-4812.

Property Type

Multi-Family

Lot/Acreage
0.07

Year Built

1880

County

Hillsborough

Listing ID

5108239

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:4
  • Bathrooms:2
  • Full Bathrooms:
Floor:Vinyl Plank
Above Ground Sq Ft:2028
Basement:Yes,Unfinished

Exterior Features

Lot:Existing
Zoning:MX-2
Roof:Asphalt Shingle
Sewer:Public
Principal Interest
$1,144
Taxes
$509

Home Price

$515,000

Loan Details

30 yrs
%

Down Payment

20%
$103,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$1,144.44

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,144.44 $508.53 $0.00 $1,652.97
Yearly $13,733.33 $6,102.36 $0.00 $19,835.69
Total $412,000.00 $183,070.80 $0.00 $595,070.80

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Manchester, NH).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.