This property at 51 Beech St, Keene, is a sizable 2-unit multifamily with a total of 3,442 sqft—one 3-bed, 2-bath unit and one 1-bed, 1-bath unit. Based on current Keene comps, the larger unit could fetch $1,800–$2,200/month, while the 1-bed is likely $1,200–$1,500/month, for a total rent potential of $3,000–$3,700 monthly. At full occupancy, that’s $36K–$44K annually. With an asking price of $249K, the gross rent multiplier (GRM) sits between 5.7–6.9 years—an attractive payback period for the region. The Keene market is experiencing low vacancies and steady rent growth, with multifamily demand outpacing new supply. Property highlights include extensive updates, off-street parking, city utilities, and walkability to downtown, schools, and hospitals. The 1-bed unit is down to the studs, so some renovation is required before full income is realized. There’s even potential for a third unit—rare in this neighborhood.

Finish renovations in Unit 2 and consider a layout that maximizes rental income—think modern finishes, in-unit laundry, or even a second bedroom if feasible. Explore the possibility of converting unused space into a third legal unit, which would significantly boost yield. If selling, market the property’s income upside, recent improvements, and expansion potential, targeting investors seeking value-add opportunities in a tight rental market.