37 Larry Dr · Alton, NH 03810

$510,000

3 bd · 2.5 ba · 1,606 sqft · SingleFamily public records · 33 Days on market

Built 2003 0.52 ac lot Est $454k · 12% over

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +9.3/30.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• ARV discount +2.0/15.0

Listing remarks MLS

CANCELED OPEN HOUSE SUNDAY NOVEMBER 12. WATER ACCESS. 3 Bedroom, 2 Bath, 1 car garage Contemporary Home located in Low Tax, Alton, NH. Enjoy new Construction throughout. This home is located in Alton Shore Association. Perfect for the Outdoor Enthusiasts. This home includes heated finish basement which can be used for Home Office, Family room, sitting area or kid’s playroom. Large unfinished utility room with Washer/Dryer hook ups / Storage Space. Open concept Family Room with Cathedral Ceiling / New Kitchen with energy efficient SS Appliances, Granite Counter tops, and Kitchen Island. Feel the outdoors from within in this sunlight filled room surrounded by large windows and 2 sliders to large deck with mountain views. 2 Bedrooms and Full bath on this level as well. Top level with Master Bedroom / walk-in closet full Bathroom and spacious landing overlooking to Cathedral room below. Includes new Heating System and Central A/C. This home can be is used for a year-round or second home get away or Rental. Association has a Low yearly fee of $275.00 which gives you Beach rights to 5 Beaches and Boat launch for kayaks, canoes, paddle boards and power boats to Sunset Lake and Hill Pond. Minutes away from Hiking Trails, Snowmobile trails, Mount Major, Gunstock Ski Area and Alton Bay / Marinas if you enjoy boating on Lake Winnipesaukee, Enjoy a peaceful setting and all that nature has to offer. A Year-round playground. A must see! Agent has interest in property.

Key facts

• Backyard area fenced
• 5 beaches
• Boat launches

Tags

• MODERN YEAR ROUND HOME
• WELL EQUIPPED KITCHEN
• BACKYARD AREA FENCED
• 5 BEACHES
• BOAT LAUNCHES

Property features AI

Finance

• HOA & community: Alton Shores Association (offers beach access and beach rights)

Exterior

• Parking: One-car garage
• Utilities: Drilled well water source; Private 1250-gallon septic; 200 amp electrical service with circuit breakers and underground service; High-speed internet available on site; Cable available on site
• Home design: Modern architecture; Existing single-family residence; Built in 2003; Metal roof
• Construction: Wood frame construction with vinyl siding; Concrete foundation
• Exterior features: Gravel driveway; Road frontage on an association-maintained, dead-end gravel road (approx. 100 feet); Part of Alton Shores Association with beach access and beach rights; Not waterfront

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Propane heating with forced air and multi-zone controls; Central air conditioning
• Interior features: Six total rooms; Basement partially finished with climate control, concrete construction, daylight windows, insulation, interior stairs, storage space, and walkout access

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $510k.

Deal economics

• At list price, monthly cash flow is $-374 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $444k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $355k (30.3% below list).
• Recommended offer: $355k (30.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 1.4% in Alton — 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 57/100 on livability (#93 in NH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Alton School District (rural): math 34% / reading 42% proficiency, ranked #139 of 171 in NH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alton Central School (Elem) (math 32% / reading 42%, grade F, #171 of 263 statewide, top 66%, 417 students, 17% FRL); Prospect Mountain High School (math 32% / reading 62%, grade D-, #47 of 90 statewide, top 57%, 387 students, 22% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: 35 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).

Forward outlook

• In year one you build about $55k of equity ($4k loan paydown + $51k appreciation (10.0% local appreciation)).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$88k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($495k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Recommended offer $355,285 (30.3% 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. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.70% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.14%
• DSCR: 0.86
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $454,498
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 Frohock Brook Rd	0.06mi	3/2.0	1,699 (+6%)	4mo	$475,000	$280	83
44 Larry Dr	0.04mi	2/2.0 (-1)	1,624 (+1%)	10mo	$420,100	$259	81
19 Wendy Dr	0.25mi	3/2.0	1,826 (+14%)	1mo	$470,000	$257	62
36 Larry Dr	0.04mi	2/2.0 (-1)	1,398 (-13%)	12mo	$400,000	$286	60
30 Bly Ave	0.43mi	2/1.5 (-1)	1,676 (+4%)	6mo	$498,000	$297	58
9 Scott Dr	0.18mi	2/1.0 (-1)	1,500 (-7%)	15mo	$425,000	$283	58
27 Marsha Dr	0.52mi	3/2.0	1,508 (-6%)	24mo	$399,900	$265	44
11 Beaver Dam Rd	0.61mi	3/2.5	1,759 (+10%)	22mo	$1,020,000	$580	37

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

Projected returns pro-forma

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

5-year hold

• IRR: 22.0%
• Equity multiple: 2.78×
• Total profit: $253,766
• Equity at exit: $459,448

10-year hold

• IRR: 19.8%
• Equity multiple: 6.36×
• Total profit: $765,731
• Equity at exit: $990,818

Cash invested: $142,800 (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 03810

• Home prices YoY: 33.9%
• Active inventory: 35
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $3,553 medium
• Mortgage (P&I): −$2,674
• Tax from tax record: −$294 /mo · $3,528/yr
• Insurance: −$212
• HOA: −$0
• Vacancy / Maint / Mgmt: −$746
• Net cashflow: $-374

Break-even live

Break-even rent $4,027

Max offer price $443,888

Occupancy floor —

Sensitivity live

Price	-10% $-86	-5% $-230	+0% $-374	+5% $-519	+10% $-663
Rent	-10% $-655	-5% $-515	+0% $-374	+5% $-234	+10% $-94
Rate	-1.0pp $-117	-0.5pp $-245	base $-374	+0.5pp $-506	+1.0pp $-641

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: $127,500
• Closing costs: $15,300
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-16
   status $510,000 Pending 33 DOM
2. 2026-06-15
   days on market $510,000 Active 33 DOM
3. 2026-06-13
   days on market $510,000 Active 31 DOM
4. 2026-06-12
   days on market $510,000 Active 30 DOM
5. 2026-06-09
   days on market $510,000 Active 27 DOM
6. 2026-06-08
   days on market $510,000 Active 26 DOM
7. 2026-06-07
   days on market $510,000 Active 25 DOM
8. 2026-06-07
   days on market $510,000 Active 24 DOM
9. 2026-06-04
   days on market $510,000 Active 21 DOM
10. 2026-06-02
    days on market $510,000 Active 20 DOM
11. 2026-06-01
    days on market $510,000 Active 19 DOM
12. 2026-05-31
    days on market $510,000 Active 18 DOM
13. 2026-05-13
    listed $529,000 Active
14. 2023-12-11
    soldstatus $479,000 Closed 1484-char remark

    Show marketing remark (1484 chars)

    CANCELED OPEN HOUSE SUNDAY NOVEMBER 12. WATER ACCESS. 3 Bedroom, 2 Bath, 1 car garage Contemporary Home located in Low Tax, Alton, NH. Enjoy new Construction throughout. This home is located in Alton Shore Association. Perfect for the Outdoor Enthusiasts. This home includes heated finish basement which can be used for Home Office, Family room, sitting area or kid’s playroom. Large unfinished utility room with Washer/Dryer hook ups / Storage Space. Open concept Family Room with Cathedral Ceiling / New Kitchen with energy efficient SS Appliances, Granite Counter tops, and Kitchen Island. Feel the outdoors from within in this sunlight filled room surrounded by large windows and 2 sliders to large deck with mountain views. 2 Bedrooms and Full bath on this level as well. Top level with Master Bedroom / walk-in closet full Bathroom and spacious landing overlooking to Cathedral room below. Includes new Heating System and Central A/C. This home can be is used for a year-round or second home get away or Rental. Association has a Low yearly fee of $275.00 which gives you Beach rights to 5 Beaches and Boat launch for kayaks, canoes, paddle boards and power boats to Sunset Lake and Hill Pond. Minutes away from Hiking Trails, Snowmobile trails, Mount Major, Gunstock Ski Area and Alton Bay / Marinas if you enjoy boating on Lake Winnipesaukee, Enjoy a peaceful setting and all that nature has to offer. A Year-round playground. A must see! Agent has interest in property.

15. 2023-11-16
    status Pending 1484-char remark

    Show marketing remark (1484 chars)

    CANCELED OPEN HOUSE SUNDAY NOVEMBER 12. WATER ACCESS. 3 Bedroom, 2 Bath, 1 car garage Contemporary Home located in Low Tax, Alton, NH. Enjoy new Construction throughout. This home is located in Alton Shore Association. Perfect for the Outdoor Enthusiasts. This home includes heated finish basement which can be used for Home Office, Family room, sitting area or kid’s playroom. Large unfinished utility room with Washer/Dryer hook ups / Storage Space. Open concept Family Room with Cathedral Ceiling / New Kitchen with energy efficient SS Appliances, Granite Counter tops, and Kitchen Island. Feel the outdoors from within in this sunlight filled room surrounded by large windows and 2 sliders to large deck with mountain views. 2 Bedrooms and Full bath on this level as well. Top level with Master Bedroom / walk-in closet full Bathroom and spacious landing overlooking to Cathedral room below. Includes new Heating System and Central A/C. This home can be is used for a year-round or second home get away or Rental. Association has a Low yearly fee of $275.00 which gives you Beach rights to 5 Beaches and Boat launch for kayaks, canoes, paddle boards and power boats to Sunset Lake and Hill Pond. Minutes away from Hiking Trails, Snowmobile trails, Mount Major, Gunstock Ski Area and Alton Bay / Marinas if you enjoy boating on Lake Winnipesaukee, Enjoy a peaceful setting and all that nature has to offer. A Year-round playground. A must see! Agent has interest in property.

16. 2023-11-08
    listed $479,900 Active 1484-char remark

    Show marketing remark (1484 chars)

    CANCELED OPEN HOUSE SUNDAY NOVEMBER 12. WATER ACCESS. 3 Bedroom, 2 Bath, 1 car garage Contemporary Home located in Low Tax, Alton, NH. Enjoy new Construction throughout. This home is located in Alton Shore Association. Perfect for the Outdoor Enthusiasts. This home includes heated finish basement which can be used for Home Office, Family room, sitting area or kid’s playroom. Large unfinished utility room with Washer/Dryer hook ups / Storage Space. Open concept Family Room with Cathedral Ceiling / New Kitchen with energy efficient SS Appliances, Granite Counter tops, and Kitchen Island. Feel the outdoors from within in this sunlight filled room surrounded by large windows and 2 sliders to large deck with mountain views. 2 Bedrooms and Full bath on this level as well. Top level with Master Bedroom / walk-in closet full Bathroom and spacious landing overlooking to Cathedral room below. Includes new Heating System and Central A/C. This home can be is used for a year-round or second home get away or Rental. Association has a Low yearly fee of $275.00 which gives you Beach rights to 5 Beaches and Boat launch for kayaks, canoes, paddle boards and power boats to Sunset Lake and Hill Pond. Minutes away from Hiking Trails, Snowmobile trails, Mount Major, Gunstock Ski Area and Alton Bay / Marinas if you enjoy boating on Lake Winnipesaukee, Enjoy a peaceful setting and all that nature has to offer. A Year-round playground. A must see! Agent has interest in property.

ⓘ 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: $3,528 · $294/mo
• Projected year-2 tax: $7,323 · $610/mo
• Expected delta: +$3,795/yr (+$316/mo · 107.6%)

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

Taxation est. · year 1

• Rental income: $42,634
• − Mortgage interest: −$28,568
• − Property taxes: −$3,528
• − Insurance: −$2,550
• − Repairs & maintenance: −$3,411
• − Management: −$3,411
• − Depreciation: −$14,836
• Taxable loss: −$13,670
• Est. tax savings @ 24.0%: +$3,281
• After-tax cash flow: $-1,210/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: Alton School District
• NCES district ID: 3301440
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $66,442
• Composite: 36.9/100
• National rank: #9132
• State rank: #139 of 171 in NH

Livability — Alton

• Score: 57/100
• State rank: #93
• US rank: #21895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,269

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Serbian 9% Romanian 9% Lithuanian 6%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Belknap

• 2024 margin: R (+13.1) · D 43.1% · R 56.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 1.2pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.4 2016: R+16.8 2012: R+5.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 112.98%
• Current HPI: 446.0509
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+10.2% since first listed

4 events — show timeline

• 2026-05-13 Listed $529,000 PrimeMLS
• 2023-12-11 Sold (MLS) $479,000 PrimeMLS
• 2023-11-16 Pending — PrimeMLS
• 2023-11-08 Listed $479,900 PrimeMLS

Property tax history

+13.9%/yr

Latest (2024): $3,528 · +53.1% YoY. Source: county tax records.