1 Pleasant St · Claremont, NH 03743

$4,865,000

None bd · None ba · 32,635 sqft · MultiFamily · 91 Days on market

Built 1892 Excellent condition 0.31 ac lot ↓ 3% since listing

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Why this score? — see what drove the B- 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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +5.1/10.0
• Condition / age +4.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 40 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 MLS

Introducing Union Block Apartments; a distinguished three-story, 40 unit, mixed-use brick building located in the heart of downtown Claremont, situated on a ±0.31-acre urban parcel on the corner of Pleasant Street and Opera House Square. This high-performing, fully renovated asset includes 34 modern residential apartments and 6 street-level retail spaces, creating diversified revenue streams within a historic downtown setting. Under the current ownership, it once again saw a new lease on life and was again comprehensively rebuilt in 2024 where the property underwent a complete gut renovation with every unit taken to the studs and modernized. Improvements include full electrical rewiring throughout all apartments, updated plumbing and drain lines, new bathrooms and kitchens, cosmetic updates to all apartments, all brand-new metal windows constructed to historic standards, refreshed common areas with modern flooring, paint, and lighting, and the installation of a building-wide security system. Mechanical infrastructure features forced hot water distributed via baseboards, supported by two active oil-fired boilers and three additional wood pellet burner boilers offering future operational flexibility. A building-wide air exchange system enhances temperature regulation and air quality. The building is fully sprinklered for life safety and benefits from completed roof repairs and a 6,000-gallon underground oil storage system. Additional income is generated through a recently refreshed owned coin-operated laundry facility consisting of three washers and three dryers. Trash service is provided through a long-term dumpster lease for tenant convenience on the neighboring property with a lease extending through November 2035. The property does not include on-site parking, but its central downtown location supports walkability and tenant accessibility to many municipal lots and garages within just a few blocks of the building. Broker interest- financials available upon request

Key facts

• 0.31 acre lot
• Built 1892
• Listed 91 days

Tags

• MIXED-USE BRICK BUILDING
• FULLY RENOVATED ASSET
• MODERN RESIDENTIAL APARTMENTS
• STREET-LEVEL RETAIL SPACES
• COMPLETE GUT RENOVATION
• FULL ELECTRICAL REWIRING

What this means for you Summary

Snapshot

• This is a 40 × 1-bed/1-bath units multifamily listed at $4.87M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $13k ($158k/yr) — positive. Per door: $329/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($59k rent vs $4.87M).
• Recommended offer: $4.43M (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.2% in Claremont — 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 69/100 on livability (#50 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, schools D-, amenities F.
• Claremont School District (town): math 24% / reading 35% proficiency, ranked #85 of 98 in NH (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 58 active listings in the ZIP; 98 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).
• At $59,223/mo this rent would consume 1192% of the median local household income ($60k/yr) (locally 642% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $43k of equity ($34k loan paydown + $10k appreciation (0.2% 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 (0.2% appreciation + 3.0% rent growth), your $1.36M cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$290k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($4.43M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $4,427,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.22% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.60%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.55×
• Total profit: $743,363
• Equity at exit: $1,461,884

10-year hold

• IRR: 15.9%
• Equity multiple: 2.78×
• Total profit: $2,421,615
• Equity at exit: $1,797,041

Cash invested: $1,362,200 (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 03743

• Home prices YoY: 0.1%
• Active inventory: 58
• Price-to-rent: 273.8×

Monthly cashflow live

• Estimated rent: $59,223 high
• Mortgage (P&I): −$25,513
• Tax est. 1.5%: −$6,081 /mo · $72,975/yr
• Insurance: −$2,027
• HOA: −$0
• Vacancy / Maint / Mgmt: −$12,437
• Net cashflow: $13,165

Break-even live

Break-even rent $42,558

Max offer price $4,865,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 40× units	1	1	$59,240
Total (40 units)			$59,223

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: $1,216,250
• Closing costs: $145,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $4,865,000 Active 91 DOM
2. 2026-06-18
   days on market $4,865,000 Active 90 DOM
3. 2026-06-17
   days on market $4,865,000 Active 89 DOM
4. 2026-06-16
   days on market $4,865,000 Active 88 DOM
5. 2026-06-15
   days on market $4,865,000 Active 87 DOM
6. 2026-06-14
   days on market $4,865,000 Active 85 DOM
7. 2026-06-12
   days on market $4,865,000 Active 84 DOM
8. 2026-06-09
   days on market $4,865,000 Active 81 DOM
9. 2026-06-08
   days on market $4,865,000 Active 80 DOM
10. 2026-06-07
    days on market $4,865,000 Active 79 DOM
11. 2026-06-05
    days on market $4,865,000 Active 76 DOM
12. 2026-06-03
    days on market $4,865,000 Active 75 DOM
13. 2026-06-02
    days on market $4,865,000 Active 74 DOM
14. 2026-06-01
    days on market $4,865,000 Active 73 DOM
15. 2026-05-31
    days on market $4,865,000 Active 72 DOM
16. 2026-05-30
    days on market $4,865,000 Active 71 DOM
17. 2026-05-14
    price $4,865,000 2007-char remark

    Show marketing remark (2007 chars)

    Introducing Union Block Apartments; a distinguished three-story, 40 unit, mixed-use brick building located in the heart of downtown Claremont, situated on a ±0.31-acre urban parcel on the corner of Pleasant Street and Opera House Square. This high-performing, fully renovated asset includes 34 modern residential apartments and 6 street-level retail spaces, creating diversified revenue streams within a historic downtown setting. Under the current ownership, it once again saw a new lease on life and was again comprehensively rebuilt in 2024 where the property underwent a complete gut renovation with every unit taken to the studs and modernized. Improvements include full electrical rewiring throughout all apartments, updated plumbing and drain lines, new bathrooms and kitchens, cosmetic updates to all apartments, all brand-new metal windows constructed to historic standards, refreshed common areas with modern flooring, paint, and lighting, and the installation of a building-wide security system. Mechanical infrastructure features forced hot water distributed via baseboards, supported by two active oil-fired boilers and three additional wood pellet burner boilers offering future operational flexibility. A building-wide air exchange system enhances temperature regulation and air quality. The building is fully sprinklered for life safety and benefits from completed roof repairs and a 6,000-gallon underground oil storage system. Additional income is generated through a recently refreshed owned coin-operated laundry facility consisting of three washers and three dryers. Trash service is provided through a long-term dumpster lease for tenant convenience on the neighboring property with a lease extending through November 2035. The property does not include on-site parking, but its central downtown location supports walkability and tenant accessibility to many municipal lots and garages within just a few blocks of the building. Broker interest- financials available upon request

18. 2026-03-19
    listed $5,000,000 Active 2007-char remark

    Show marketing remark (2007 chars)

    Introducing Union Block Apartments; a distinguished three-story, 40 unit, mixed-use brick building located in the heart of downtown Claremont, situated on a ±0.31-acre urban parcel on the corner of Pleasant Street and Opera House Square. This high-performing, fully renovated asset includes 34 modern residential apartments and 6 street-level retail spaces, creating diversified revenue streams within a historic downtown setting. Under the current ownership, it once again saw a new lease on life and was again comprehensively rebuilt in 2024 where the property underwent a complete gut renovation with every unit taken to the studs and modernized. Improvements include full electrical rewiring throughout all apartments, updated plumbing and drain lines, new bathrooms and kitchens, cosmetic updates to all apartments, all brand-new metal windows constructed to historic standards, refreshed common areas with modern flooring, paint, and lighting, and the installation of a building-wide security system. Mechanical infrastructure features forced hot water distributed via baseboards, supported by two active oil-fired boilers and three additional wood pellet burner boilers offering future operational flexibility. A building-wide air exchange system enhances temperature regulation and air quality. The building is fully sprinklered for life safety and benefits from completed roof repairs and a 6,000-gallon underground oil storage system. Additional income is generated through a recently refreshed owned coin-operated laundry facility consisting of three washers and three dryers. Trash service is provided through a long-term dumpster lease for tenant convenience on the neighboring property with a lease extending through November 2035. The property does not include on-site parking, but its central downtown location supports walkability and tenant accessibility to many municipal lots and garages within just a few blocks of the building. Broker interest- financials available upon request

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

Taxation est. · year 1

• Rental income: $710,676
• − Mortgage interest: −$272,516
• − Property taxes: −$72,975
• − Insurance: −$24,325
• − Repairs & maintenance: −$56,854
• − Management: −$56,854
• − Depreciation: −$141,527
• Taxable income: $85,625
• Est. tax owed @ 24.0%: −$20,550
• After-tax cash flow: $137,433/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.

Condition & rehab AI · 6 photos

Excellent 95/100 None rehab

This multi-family building is in excellent condition with no visible damage. It has undergone a comprehensive gut renovation and is ready for immediate occupancy. The property is well-maintained and has a strong rental market potential.

Value-add opportunities

• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more tenants.
• Both Interior updates — Modernizing the interior can attract more tenants and increase rental rates.
• Both Exterior updates — Updating the exterior can enhance the building's appearance and attract more tenants.
• Both Marketing and advertising — Effective marketing can increase visibility and attract more tenants and buyers.
• Both Property management services — Professional property management can ensure the building is well-maintained and attract more tenants and buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more tenants. ↑
• Both Interior updates — Modernizing the interior can attract more tenants and increase rental rates. ↑
• Both Exterior updates — Updating the exterior can enhance the building's appearance and attract more tenants. ↑
• Both Marketing and advertising — Effective marketing can increase visibility and attract more tenants and buyers. ↑
• Both Property management services — Professional property management can ensure the building is well-maintained and attract more tenants and buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Claremont School District
• NCES district ID: 3302340
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $43,285
• Composite: 25.11/100
• National rank: #7528
• State rank: #85 of 98 in NH

Livability — Claremont

• Score: 69/100
• State rank: #50
• US rank: #8815

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Claremont, NH
• County: Sullivan County · 16,826 people
• City population: 13,704
• Metro: Lebanon, NH-VT
• Population (ZIP): 13,704
• Household income: $59,625
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 642.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 5% Black 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 18% Slovak 4% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 0.20%
• Current HPI: 337.0004
• Rent YoY: —
• Metro: Lebanon, NH-VT
• State GDP YoY: —
• F500 in state: 0

Price history

-2.7% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $4,865,000 PrimeMLS
• 2026-03-19 Listed $5,000,000 PrimeMLS