Duplex in Dover and NH Housing Market

Duplex in Dover and NH Housing Market

Member since 2025 · 86 posts · 25 votes

Duplex sold in Dover in 2025 for mid $500’s 

Both units have 3 bed/1 bath apartments 

Both units are in decent shape but there is room for some cosmetic upgrades 

270k/unit and approx $240/sqft

These two numbers tell us this duplex is very on par for what the market looks like in Dover 

Because of the larger bedroom count, I’d like to play out a house hack scenario:

PITI payment + maintenance/Capex + vacancy + energy bills + reserves= $5400/mo(rough estimate) 

Now I’ve been hearing that this winter has proved to be harder than normal for landlords to rent out, so assuming a below market rent for a 3 bedroom in Dover going for $2100 and two individual rooms in your own unit renting for $600, that totals up to be $3300, leaving an additional $2k/mo rent to pay. In this case, an argument can be made that it would be easier and more convenient to rent. 

What do you guys think? And for those in the Seacoast area, do you see Dover becoming like Portsmouth? Or will it be different, and if so, how? 

Since 2020, prices have shot up tremendously in Dover and have continued to rise. Will we see appreciation slowing down or will the physical assets of real estate keep going up? 

I’d love to hear some predictions/comments on the housing market in NH. 

0Reply
65 views

3 Replies

Jump to latestLatest
  • Dan WeberBusiness Member
    Realtor · Portland, ME · Member since 2015 · 656 posts · 552 votes
    7mo

    Your overall point is a good one. $600/room seems cheap for the other 2 bedrooms, but even at $800/bedroom, the point still stands as you will have capex/maintenance costs, potentially heat costs (if only 1 heat system?). This equation does not account for appreciation and mortgage paydown in the long term, which are powerful wealth building tools, with mortgage paydown often long forgotten. In the current environment, I always encourage clients to spring for the 3 unit if they can afford it as the numbers always work so much better for the house hack. I would try to wait out for a 3 unit before settling for a duplex. 

  • Jaylan ArcherBusiness Member
    Real Estate Agent · Portsmouth, NH · Member since 2014 · 150 posts · 65 votes
    7mo

    Completely agree with Dan on this one. 

    Although two units are typically what everyone prefers the most, in the Dover market they are almost never cash flow positive as a house hack. You'd have to purchase a three or maybe even a four unit in order to find that. 

    With the boom of new construction in Dover, the addition of Class A units is going to make the older and sometimes outdated units look like a good deal. The seacoast saw a return to seasonality through the winter but I am expecting this year to be a great year for unit turn over and new leases. 

    Archer and Associates of KW Coastal587 Reviews
    • Member since 2025 · 86 posts · 25 votes
      7mo

      @Jaylan Archer Interesting point you make on making the older units looking like good deals compared with class A. Dover is definitely developing quickly with new modern units being added. What impacts do you think it will have with the older stock? Will it appreciate more or stabilize price increases due to supply? 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.