29 River St · Charlestown, NH 03603

$349,900

3 bd · 2.5 ba · 1,866 sqft · MultiFamily public records · 62 Days on market

Built 1890 0.52 ac lot $188/sqft · 10% above area Est $318k · 10% over

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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 +17.2/30.0
• Appreciation +10.0/10.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• ARV discount +3.0/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This home is back on the market after some significant renovations! The first floor has been upgraded with re-finished hardwood floors, paint, along with the bathroom being re-done with a new floor, toilet, and shower. A couple new appliances have been added as well. The second floor has 2 good sized bedrooms, laundry, hard wood floors, and plenty of storage. The first floor is a studio, which also has it's own washer/dryer and 2 private entrances. The home also features a 2 car garage with a driveway that can fit three additional vehicles. Situated on a large corner lot, it has also been zoned to build an additional structure. Come check out this home that has endless potential!

Key facts

• New shower
• New appliances
• New floor

Tags

• SIGNIFICANT RENOVATIONS
• RE-FINISHED HARDWOOD FLOORS
• NEW FLOOR
• NEW TOILET
• NEW SHOWER
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $339k (3.1% below list).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.4% in Charlestown — 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 71/100 on livability (#39 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, employment A; Watch: housing D, health & safety D, amenities F.
• Fall Mountain Regional School District (rural): math 32% / reading 47% proficiency, ranked #65 of 98 in NH (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 98 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Sullivan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $200k; list at $350k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $328,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $317,966
• List price: $349,900
• Delta: 10.04%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 3.11×
• Total profit: $206,538
• Equity at exit: $315,218

10-year hold

• IRR: 23.2%
• Equity multiple: 7.08×
• Total profit: $595,819
• Equity at exit: $679,779

Cash invested: $97,972 (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 03603

• Home prices YoY: 8.6%
• Active inventory: 36
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $3,390 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$448 /mo · $5,370/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$712
• Net cashflow: $250

Break-even live

Break-even rent $3,074

Max offer price $349,900

Occupancy floor 88%

Sensitivity live

Price	-10% $448	-5% $349	+0% $250	+5% $151	+10% $52
Rent	-10% $-18	-5% $116	+0% $250	+5% $384	+10% $518
Rate	-1.0pp $426	-0.5pp $339	base $250	+0.5pp $159	+1.0pp $67

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,390
Total (2 units)			$3,390

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $349,900 Active 62 DOM
2. 2026-06-18
   days on market $349,900 Active 61 DOM
3. 2026-06-17
   days on market $349,900 Active 60 DOM
4. 2026-06-16
   days on market $349,900 Active 59 DOM
5. 2026-06-15
   days on market $349,900 Active 58 DOM
6. 2026-06-14
   days on market $349,900 Active 56 DOM
7. 2026-06-12
   days on market $349,900 Active 55 DOM
8. 2026-06-09
   days on market $349,900 Active 52 DOM
9. 2026-06-08
   days on market $349,900 Active 51 DOM
10. 2026-06-07
    days on market $349,900 Active 50 DOM
11. 2026-06-07
    days on market $349,900 Active 49 DOM
12. 2026-06-02
    days on market $349,900 Active 45 DOM
13. 2026-06-01
    days on market $349,900 Active 44 DOM
14. 2026-05-31
    days on market $349,900 Active 43 DOM
15. 2026-05-30
    days on market $349,900 Active 42 DOM
16. 2026-04-18
    listed $349,900 Active 688-char remark

    Show marketing remark (599 chars)

    This home is back on the market after some significant renovations! The first floor has been upgraded with re-finished hardwood floors, paint, along with the bathroom being re-done with a new floor, toilet, and shower. A couple new appliances have been added as well. The second floor has 2 good sized bedrooms, laundry, hard wood floors, and plenty of storage. The home also features a huge 2 car garage with a driveway that can fit 3 additional vehicles. Situated on a large corner lot, there is also potential to build an additional structure. Come check out this home that has endless potential!

17. 2026-04-18
    listed $349,900 Active 599-char remark

    Show marketing remark (599 chars)

    This home is back on the market after some significant renovations! The first floor has been upgraded with re-finished hardwood floors, paint, along with the bathroom being re-done with a new floor, toilet, and shower. A couple new appliances have been added as well. The second floor has 2 good sized bedrooms, laundry, hard wood floors, and plenty of storage. The home also features a huge 2 car garage with a driveway that can fit 3 additional vehicles. Situated on a large corner lot, there is also potential to build an additional structure. Come check out this home that has endless potential!

18. 2025-11-11
    price $329,900
19. 2025-11-11
    price $329,900
20. 2006-11-14
    soldstatus $200,000

ⓘ 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: $5,370 · $448/mo
• Projected year-2 tax: $6,499 · $542/mo
• Expected delta: +$1,129/yr (+$94/mo · 21.0%)

ⓘ 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 3/10 Moderate 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,680
• − Mortgage interest: −$19,600
• − Property taxes: −$5,370
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,254
• − Management: −$3,254
• − Depreciation: −$10,179
• Taxable loss: −$2,727
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $3,653/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: Fall Mountain Regional School District
• NCES district ID: 3302990
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 47% ▼ -7.00%
• Median HH income: $53,411
• Composite: 34.35/100
• National rank: #5227
• State rank: #65 of 98 in NH

Livability — Charlestown

• Score: 71/100
• State rank: #39
• US rank: #6553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlestown, NH
• Population (ZIP): 5,272

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 41,322 people
• By 2030: 39,910 · -3.4%
• By 2040: 36,447 · -11.8%
• By 2050: 32,917 · -20.3%
• By 2075: 25,997 · -37.1%
• By 2100: 19,479 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Asian 2%
• Common ancestry: Lithuanian 11% Slovak 4% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Chinese 2% French/Haitian/Cajun 1%

Political lean MEDSL · Sullivan

• 2024 margin: Toss-up / Even · D 49.1% · R 49.8% · Other 1.2%
• 2008→2024 swing: -18.7pp toward R · 2008: 18.0pp · 2024: -0.7pp
• All cycles: 2024: R+0.7 2020: D+3.6 2016: R+2.6 2012: D+13.3 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.27%
• Current HPI: 320.9344
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+75.0% since first listed

5 events — show timeline

• 2026-04-18 Listed $349,900 PrimeMLS
• 2026-04-18 Listed $349,900 PrimeMLS
• 2025-11-11 Price Changed $329,900 PrimeMLS
• 2025-11-11 Price Changed $329,900 PrimeMLS
• 2006-11-14 Sold (Public Records) $200,000 Public Records

Property tax history

+0.2%/yr

Latest (2024): $5,370 · +6.0% YoY. Source: county tax records.