48 Prospect St · Rochester, NH 03867

$210,000

3 bd · 1.0 ba · 1,059 sqft · SingleFamily public records · 2 Days on market

Built 1947 0.30 ac lot Est $337k · 38% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Contractor special! 3 beds, 1 bath, 1 garage on . 3 acre lot with town services and gas. Buyer to be responsible for personal effects left behind. Buyer and agent to do their due diligence.

Key facts

• 0.3 acre lot
• Garage
• Built 1947

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; On-site gas; Electric service (other); No internet service indicated
• Home design: Cottage/Camp style; Existing construction; Shingle - Asphalt roof; Built in 1947
• Construction: Timber frame with clapboard exterior; Concrete foundation (basement)
• Exterior features: Level neighborhood lot; Crushed stone driveway; Green exterior color

Interior

• Bedrooms: Three first-floor bedrooms; First-floor den; First-floor living room; One additional first-floor room (other)
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Six total rooms; Unfinished concrete basement with bulkhead and walk-up stairs

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Cap rate 7.7% vs local median 3.6% in Rochester — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#8 in NH, #698 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities C-.
• Rochester School District (suburban): math 27% / reading 35% proficiency, ranked #83 of 98 in NH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.2%/yr); 108 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).
• This rent runs 33% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,000

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $336,762
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Adams Ave	0.09mi	3/1.0	1,008 (-5%)	12mo	$372,000	$369	78
22 Corson St	0.19mi	3/1.0	988 (-7%)	5mo	$410,000	$415	76
56 Chamberlain St	0.09mi	4/1.0 (+1)	1,152 (+9%)	5mo	$374,900	$325	72
38 Western Ave	0.21mi	2/1.0 (-1)	992 (-6%)	6mo	$210,000	$212	70
14 2nd St	0.20mi	3/1.0	1,176 (+11%)	8mo	$339,000	$288	66
12 Friendship St	0.30mi	2/2.0 (-1)	1,007 (-5%)	9mo	$320,000	$318	61
12 Court St	0.41mi	3/1.0	1,176 (+11%)	10mo	$282,000	$240	55
524 Portland St	0.49mi	3/1.0	1,176 (+11%)	7mo	$384,810	$327	53
5 Friendship St	0.32mi	3/2.5	1,214 (+15%)	9mo	$305,000	$251	48
10 Richardson St	0.66mi	2/2.0 (-1)	1,004 (-5%)	9mo	$350,000	$349	44
12 Winter St	0.61mi	2/2.0 (-1)	984 (-7%)	14mo	$310,000	$315	39
26 Olde Farm Ln	0.51mi	2/1.0 (-1)	1,184 (+12%)	20mo	$290,000	$245	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.22% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.73×
• Total profit: $-15,685
• Equity at exit: $31,312

10-year hold

• IRR: 4.0%
• Equity multiple: 1.31×
• Total profit: $18,006
• Equity at exit: $18,157

Cash invested: $58,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 56 Moderately Landlord-Leaning
• State New Hampshire: 56 Moderately Landlord-Leaning · D+1
• County: — inherits STATE
• City: — inherits STATE

Has just-cause statute; 30-day notice; landlord-leaning vs. neighbors.

Methodology + full state rankings →

ZIP-level market 03867

• Home prices YoY: -22.0%
• Rents YoY: 4.2%
• Active inventory: 108
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,180 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$289 /mo · $3,465/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $245

Break-even live

Break-even rent $1,870

Max offer price $210,000

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 Beaver Way Unit 101 Rochester, NH	2.0	1.5	1375	$2,000	$1.45	24d	1	0.76mi
10 N Main St Rochester, NH	2.0	1.0	785	$2,150	$2.74	2d	1	0.76mi
21 Knight St Unit 1 Rochester, NH	3.0	1.0	900	$2,300	$2.56	5d	1	0.78mi
27 Knight St Unit 2 Rochester, NH	3.0	1.0	1400	$2,000	$1.43	44d	1	0.81mi
20 Fownes Mill Ct Rochester, NH	2.0	2.0	1200	$2,300	$1.92	24d	1	0.91mi
20 Fownes Mill Ct Rochester, NH	2.0	2.0	1200	$2,350	$1.96	44d	1	0.91mi
616 Portland St #69 Rochester, NH	2.0	1.0	856	$2,250	$2.63	24d	1	0.94mi
28 Chestnut St Unit Upstairs Rochester, NH	2.0	1.0	925	$1,650	$1.78	15d	1	1.03mi
73 Maple St Rochester, NH	2.0	1.0	800	$1,500	$1.88	3d	1	1.25mi
664 Columbus Ave Unit 205 Rochester, NH	2.0	1.0	1000	$2,000	$2.00	18d	1	1.27mi
6 Dora Dr Apt B Rochester, NH	2.0	1.0	850	$1,850	$2.18	22d	1	1.30mi
58 Washington St Rochester, NH	3.0	1.0	1120	$2,300	$2.05	5d	1	1.32mi
52 Woodland Grn Rochester, NH	2.0	1.5	1048	$2,350	$2.24	5d	1	1.47mi

Listing history 3 events

1. 2026-06-18
   days on market $210,000 Active 2 DOM
2. 2026-06-17
   remarks 190-char remark
3. 2026-06-17
   listed $210,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NH · Partial reset (capped growth)

• Current annual tax: $3,465 · $289/mo
• Projected year-2 tax: $4,022 · $335/mo
• Expected delta: +$556/yr (+$46/mo · 16.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,161
• − Mortgage interest: −$11,763
• − Property taxes: −$3,465
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,093
• − Management: −$2,093
• − Depreciation: −$6,109
• Taxable loss: −$412
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $3,036/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rochester School District
• NCES district ID: 3305940
• Math proficiency: 27% ▼ -15.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $51,080
• Composite: 27.11/100
• National rank: #7039
• State rank: #83 of 98 in NH

Livability — Rochester

• Score: 84/100
• State rank: #8
• US rank: #698

Category grades

Amenities C- Commute A+ Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, NH
• County: Strafford County · 75,181 people
• City population: 22,732
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,732
• Household income: $78,674
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 663.0

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 12% Romanian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.34%
• Current HPI: 379.5755
• Rent YoY: ▲ 4.22%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-16 Listed $210,000 PrimeMLS

Property tax history

+1.8%/yr

Latest (2025): $3,465 · +3.0% YoY. Source: county tax records.