47 Hanson StRochester, NH 03867

Property Details for 47 Hanson St

Year built

1900

Construction

FRAME

Lot size

0.02 AC

Property size (Sq ft)

748 SF

Zone code

DTC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

RCHE M:0120 B:0382 L:0000

APU

RCHEM0120B0382L0000

Description

This 748-square-foot, two-unit apartment building located at 47 Hanson St, Rochester, NH 03867, presents a unique investment opportunity. Built in 1900, the property is priced at $150,000, or $75,000 per unit. The asking price translates to $200.53 per square foot. Situated in downtown Rochester, this property offers significant potential for rehabilitation and redevelopment. The existing structure requires extensive renovations, making it an attractive option for a "BRRRR" strategy. The downtown commercial zoning allows for relaxed density requirements and no setback requirements, presenting the possibility of expanding the existing structure or constructing a larger building by potentially increasing the lot size through acquisition of adjacent land. This property is ideally suited for investors seeking to leverage Qualified Opportunity Fund (QOF) benefits and potential local 79E tax advantages. Rochester's growth, fueled by projects like the Ridge expansion and the Hoffman project, makes this a compelling investment in a thriving Seacoast city. Consider purchasing this property as a package with MLS #4968544.

• CAP approach

  CAP return

  Valuation

  6%

  $123,667

  6.5%

  $114,154

  7%

  $106,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $97,734

  Geo Method

  $97,734

• Alternative Use

  Use

  Valuation

  Residential

  $141,551

  Hospitality

  $129,660

  Educational

  $107,875

  Medical

  $111,585

  Retail

  $167,806

Location Insight

City

Rochester

County

Strafford

State

New Hampshire

Latitude

43.3047

Longitude

-70.974

CBSA code

14460

CBSA name

BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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