27 Linden St · Exeter, NH 03833

$599,900

3 bd · 2.5 ba · 2,293 sqft · MultiFamily public records · 13 Days on market

Built 1900 6,534 sqft lot Est $727k · 17% 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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Schools +4.6/10.0
• Livability +4.5/5.0
• 1% rule +4.1/10.0
• DSCR +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

WELL MAINTAINED AND UPDATED DUPLEX. EXCELLENT OPPORTUNITY FOR OWNER OCCUPIED. FENCED YARD WITH PARKING FOR 5-6 CARS. SOME HARDWOOD FLOORS. SMALL HOME OFFICE 1 1/2 BATHS IN SPACIOUS OWNERS UNIT. U/A

Key facts

• Two family property
• 6,534 sq ft lot
• Built 1900

Tags

• TWO FAMILY PROPERTY
• HASSLE FREE OFF STREET PARKING
• HIGHLY DESIRABLE LOCATION
• WALKING DISTANCE TO PEA CAMPUS
• RELIABLE RENTAL INCOME

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable internet available
• Home design: Duplex; Existing structure; Wood frame construction
• Construction: Built in 1900; Asphalt shingle roof
• Exterior features: City lot; Paved driveway; Public road frontage

Interior

• Bedrooms: Two 2-bedroom units (total of 2 units)
• Heating & cooling: Hot water heating; No central air
• Interior features: Full basement with interior access

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $-35 ($-417/yr) — negative. Per door: $-17/mo.
• To cash-flow at today's rent, offer at most $594k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $544k (9.4% below list).
• Recommended offer: $544k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.3% in Exeter — 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 91/100 on livability (#1 in NH, #59 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Exeter School District (suburban): math 46% / reading 57% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Lincoln Street Elementary School (math 47% / reading 57%, grade C-, #82 of 263 statewide, top 34%, 424 students, 15% FRL); Cooperative Middle School (math 39% / reading 60%, grade C, #24 of 96 statewide, top 26%, 951 students, 9% FRL); Exeter High School (math 58% / reading 77%, grade B, #10 of 90 statewide, top 11%, 1,447 students, 6% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: 143 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• At $5,438/mo this rent would consume 55% of the median local household income ($119k/yr) (locally 485% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y ago 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 $204k; list at $600k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $543,800 (9.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $726,881
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 Union St	0.27mi	3/3.0	2,342 (+2%)	8mo	$700,000	$299	75
48 Winter St	0.44mi	4/2.0 (+1)	2,208 (-4%)	4mo	$580,000	$263	63
24-26 Garfield St	0.25mi	4/3.0 (+1)	2,097 (-8%)	9mo	$730,000	$348	60
10 School St	0.18mi	3/3.0	1,972 (-14%)	19mo	$625,000	$317	50
8 River St	0.62mi	4/3.0 (+1)	2,122 (-8%)	13mo	$700,000	$330	41
54 Lincoln St	0.36mi	4/2.0 (+1)	2,065 (-10%)	24mo	$565,000	$274	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-99,225
• Equity at exit: $89,447

10-year hold

• IRR: -8.4%
• Equity multiple: 0.47×
• Total profit: $-88,455
• Equity at exit: $51,868

Cash invested: $167,972 (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 03833

• Active inventory: 143
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $5,438 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$935 /mo · $11,218/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,142
• Net cashflow: $-35

Break-even live

Break-even rent $5,482

Max offer price $593,768

Occupancy floor 96%

Sensitivity live

Price	-10% $305	-5% $135	+0% $-35	+5% $-205	+10% $-374
Rent	-10% $-464	-5% $-250	+0% $-35	+5% $180	+10% $395
Rate	-1.0pp $267	-0.5pp $118	base $-35	+0.5pp $-190	+1.0pp $-348

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,438
Total (2 units)			$5,438

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Garfield St Exeter, NH	3.0	2.0	1853	$3,800	$2.05	0d	1	0.26mi
8 Winslow Dr Exeter, NH	3.0	2.5	1912	$3,800	$1.99	3d	1	0.50mi
8 Winslow Dr Exeter, NH	3.0	2.5	1912	$3,800	$1.99	0d	1	0.50mi
74 Park St Exeter, NH	3.0	2.0	1814	$3,800	$2.09	0d	1	0.55mi
216B Front St Exeter, NH	4.0	2.0	1700	$3,495	$2.06	0d	1	0.55mi
22 River Bend Cir Exeter, NH	3.0	2.5	2184	$4,100	$1.88	18d	1	0.92mi
22 River Bend Cir Exeter, NH	3.0	3.0	2184	$4,100	$1.88	0d	1	0.92mi

Listing history 10 events

1. 2026-06-15
   statusdays on market $599,900 Pending 13 DOM
2. 2026-06-13
   days on market $599,900 Active 12 DOM
3. 2026-06-13
   days on market $599,900 Active 11 DOM
4. 2026-06-09
   days on market $599,900 Active 8 DOM
5. 2026-06-08
   days on market $599,900 Active 7 DOM
6. 2026-06-07
   days on market $599,900 Active 6 DOM
7. 2026-06-04
   days on market $599,900 Active 3 DOM
8. 2026-06-03
   days on market $599,900 Active 2 DOM
9. 2026-06-02
   remarks 699-char remark
10. 2026-06-02
    listed $599,900 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: $11,218 · $935/mo
• Projected year-2 tax: $12,148 · $1,012/mo
• Expected delta: +$930/yr (+$77/mo · 8.3%)

ⓘ 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 5/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,256
• − Mortgage interest: −$33,604
• − Property taxes: −$11,218
• − Insurance: −$3,000
• − Repairs & maintenance: −$5,220
• − Management: −$5,220
• − Depreciation: −$17,452
• Taxable loss: −$10,458
• Est. tax savings @ 24.0%: +$2,510
• After-tax cash flow: $2,093/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: Exeter School District
• NCES district ID: 3302970
• Math proficiency: 46% ▼ -21.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $69,970
• Composite: 45.9/100
• National rank: #2549
• State rank: #32 of 98 in NH

Livability — Exeter

• Score: 91/100
• State rank: #1
• US rank: #59

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, NH
• County: Rockingham County · 137,526 people
• City population: 22,817
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,817
• Household income: $119,393
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 485.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Slovak 5% Romanian 5%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.07%
• Current HPI: 288.0139
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+179.2% since first listed

5 events — show timeline

• 2026-06-01 Listed $599,900 PrimeMLS
• 2000-05-15 Sold (Public Records) $204,000 Public Records
• 2000-05-15 Sold (MLS) $204,000 PrimeMLS
• 2000-03-28 Delisted — PrimeMLS
• 2000-01-20 Listed $214,900 PrimeMLS

Property tax history

+4.9%/yr

Latest (2025): $11,218 · +5.5% YoY. Source: county tax records.