DUPLEX in Exeter

[Jakob Mikhitarian]

2 family home sold in 2025 for high $400’s 

(2) 2 bedroom units 

Approximately 2,000sqft 

Condition is unknown 

Price per unit is approx. $250k/unit and $245/sqft

Seems pretty on par from what we’ve previously evaluated in the past. While a multifamily building sale price in the $400’s may be head turning in Exeter, this is a smaller duplex and price per unit/sqft equates to a market average for the area. 

Not many duplexes of this size seem to appear in the Exeter market, so it’s cool to see this one sell within the past year. 

Would you rather live in a duplex, triplex, or quad plex? OR do you only have eyes set on a single family house? 

[Eric Fernwood]

Hello Jakob,

What you should buy is completely dependent on your long-term goals, not your feelings or opinions. If your goal is long-term financial independence, you must have a rental income that meets the following criteria:

• Rents must increase faster than inflation. Inflation is constant, and retirement can span 25-30 years without active income. Rent growth depends on the city, not the property—population (and personal income) growth drives rents up, while population stagnation or decline causes them to fall.
• Your rental income must last throughout your lifetime. Your tenants can only pay rent if they are employed at similar wages. Companies last on average between 10 and 18 years. So if you're going to hold your property for 30 or 40 years, tenants will need to find replacement jobs three or four times during this period. So select a city where new companies are continually setting up operations and creating the replacement jobs.
• Income reliability. You must be able to count on the income continuing even during recessions. This depends on the tenant segment occupying your property. We selected a specific tenant segment, and our clients had no decrease in rent and no vacancies during the 2008 crash—despite their property prices falling by 40% or more. The takeaway: identify a tenant segment that stays for many years and pays rent on schedule. Next, determine what and where they currently rent. Then, buy similar properties.

Let your financial goals drive all your decisions. The city where you invest and the property you select will determine whether you can achieve a rental income that enables long-term financial independence.