40 Highland St · Ashland, NH 03217

$750,000

6 bd · 6.0 ba · 4,547 sqft · MultiFamily public records · 36 Days on market

Built 1890 0.64 ac lot

---

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 +15.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Well-maintained 6-unit property comprised entirely of spacious 1 bed / 1 bath units. Fully occupied with long-term tenants, providing immediate, in-place cash flow. All units are separately metered for electricity, with tenants paying their own electric — helping keep operating expenses controlled. The apartments offer generous layouts and have benefited from numerous improvements to both the building and individual units. Situated on a large site with ample parking, the property provides strong tenant convenience and long-term stability. Excellent location in a high-demand rental area with consistent occupancy history and proximity to major routes, employment, and amenities. 48 hour

Key facts

• Ample parking
• Separately metered
• 6 unit property

Tags

• 6 UNIT PROPERTY
• SPACIOUS UNITS
• SEPARATELY METERED
• NUMEROUS IMPROVEMENTS
• AMPLE PARKING
• HIGH DEMAND RENTAL AREA

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Public sewer; Public water; Electric: circuit breaker(s); Cable and phone available; Internet (cable)
• Home design: Multi-family New Englander style; Existing construction; Green exterior color
• Construction: Built in 1890; Wood frame construction with vinyl exterior; Asphalt shingle roof; Unfinished basement
• Exterior features: Corner lot; Landscaped; Level lot; Located in town, near shopping; Paved driveway; Paved public road frontage

Interior

• Bedrooms: Six 1-bedroom units
• Bathrooms: Six full bathrooms
• Heating & cooling: Oil heating with baseboard and hot water systems; Cooling: Other
• Interior features: Walk-up unfinished basement

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1.0-bath units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive. Per door: $57/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $690k (8.0% below list).
• Recommended offer: $690k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.5% in Ashland — 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 63/100 on livability (#82 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B; Watch: schools C-, health & safety C-, amenities F.
• Pemi-Baker Regional School District (rural): math 45% / reading 70% proficiency, ranked #77 of 171 in NH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).

Forward outlook

• In year one you build about $80k of equity ($5k loan paydown + $75k appreciation (10.0% local appreciation)).
• Grafton County population projected at -13% 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 $210k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $379k; list at $750k implies a 98% 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 $690,000 (8.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
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 1890 — 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. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.96%
• DSCR: 1.09
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $430,395
• Equity at exit: $675,659

10-year hold

• IRR: 22.6%
• Equity multiple: 6.95×
• Total profit: $1,250,360
• Equity at exit: $1,457,085

Cash invested: $210,000 (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 03217

• Home prices YoY: 11.9%
• Active inventory: 16
• Price-to-rent: 54.3×

Monthly cashflow live

• Estimated rent: $6,900 medium
• Mortgage (P&I): −$3,933
• Tax from tax record: −$862 /mo · $10,345/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,449
• Net cashflow: $343

Break-even live

Break-even rent $6,465

Max offer price $750,000

Occupancy floor 90%

Sensitivity live

Price	-10% $768	-5% $556	+0% $343	+5% $131	+10% $-81
Rent	-10% $-202	-5% $71	+0% $343	+5% $616	+10% $888
Rate	-1.0pp $721	-0.5pp $534	base $343	+0.5pp $149	+1.0pp $-49

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$6,900
Total (6 units)			$6,900

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-04-15
   status Pending
2. 2026-03-09
   listed $750,000 Active
3. 2024-04-10
   historical $1,595
4. 2024-04-06
   listed $1,595
5. 2024-01-08
   historical $1,450
6. 2023-12-13
   listed $1,450
7. 2021-03-30
   price $488,000
8. 2021-03-30
   price $488,000
9. 2021-02-03
   price $487,000
10. 2018-07-25
    soldstatus $379,000
11. 2018-07-24
    soldstatus $379,000 Closed
12. 2018-05-02
    historical Active with Contract
13. 2018-04-09
    listed $379,000 Active
14. 2007-06-06
    soldstatus $200,000
15. 2007-06-06
    soldstatus $200,000
16. 2007-05-10
    historical
17. 2007-04-26
    listed $225,000

ⓘ 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: $10,345 · $862/mo
• Projected year-2 tax: $13,348 · $1,112/mo
• Expected delta: +$3,002/yr (+$250/mo · 29.0%)

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

Taxation est. · year 1

• Rental income: $82,800
• − Mortgage interest: −$42,012
• − Property taxes: −$10,345
• − Insurance: −$3,750
• − Repairs & maintenance: −$6,624
• − Management: −$6,624
• − Depreciation: −$21,818
• Taxable loss: −$8,373
• Est. tax savings @ 24.0%: +$2,009
• After-tax cash flow: $6,130/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: Pemi-Baker Regional School District
• NCES district ID: 3399965
• Math proficiency: 45% ▲ 10.00%
• Reading proficiency: 70% ▲ 15.00%
• Median HH income: $42,275
• Composite: 49.93/100
• National rank: #4161
• State rank: #77 of 171 in NH

Livability — Ashland

• Score: 63/100
• State rank: #82
• US rank: #14991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, NH
• Population (ZIP): 2,207

Population outlook (Grafton County) Hauer SSP2

• Today (2025): 88,798 people
• By 2030: 87,131 · -1.9%
• By 2040: 82,000 · -7.7%
• By 2050: 77,064 · -13.2%
• By 2075: 68,769 · -22.6%
• By 2100: 61,631 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 12% Asian 1%
• Common ancestry: Lithuanian 10% Slovak 6% Romanian 5%
• Foreign-born: 5%
• Languages at home: 98% English-only · Other Asian/Pacific 2%

Political lean MEDSL · Grafton

• 2024 margin: D (+19.9) · D 59.4% · R 39.4% · Other 1.2%
• 2008→2024 swing: -7.8pp toward R · 2008: 27.7pp · 2024: 19.9pp
• All cycles: 2024: D+19.9 2020: D+24.6 2016: D+19.0 2012: D+23.8 2008: D+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.50%
• Current HPI: 381.2073
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+233.3% since first listed

17 events — show timeline

• 2026-04-15 Pending — PrimeMLS
• 2026-03-09 Listed $750,000 PrimeMLS
• 2024-04-10 Rental Removed $1,595 APPFOLIO
• 2024-04-06 Listed for Rent $1,595 APPFOLIO
• 2024-01-08 Rental Removed $1,450 APPFOLIO
• 2023-12-13 Listed for Rent $1,450 APPFOLIO
• 2021-03-30 Price Changed $488,000 PrimeMLS
• 2021-03-30 Price Changed $488,000 PrimeMLS
• 2021-02-03 Price Changed $487,000 PrimeMLS
• 2018-07-25 Sold (Public Records) $379,000 Public Records
• 2018-07-24 Sold (MLS) $379,000 PrimeMLS
• 2018-05-02 Contingent — PrimeMLS
• 2018-04-09 Listed $379,000 PrimeMLS
• 2007-06-06 Sold (Public Records) $200,000 Public Records
• 2007-06-06 Sold (MLS) $200,000 PrimeMLS
• 2007-05-10 Delisted — PrimeMLS
• 2007-04-26 Listed $225,000 PrimeMLS

Property tax history

+4.8%/yr

Latest (2024): $10,345 · +6.3% YoY. Source: county tax records.