1408 Napert St · Berlin, NH 03570

$160,000

2 bd · 1.0 ba · 1,299 sqft · SingleFamily public records · 156 Days on market

Built 1900 9,583 sqft lot $123/sqft · 8% below area Est $173k · 8% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Single family home on level lot, 2 large bedrooms and 1.5 baths. There is a workshop shed out back with power to it, and a one car garage. Roof is only 3 years old, furnace and hot water tank are both only one year old. Bring your paintbrush and bring this home to life!

Key facts

• One car garage
• Workshop shed
• Level lot

Tags

• WORKSHOP SHED
• LEVEL LOT
• ONE CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 7.1% in Berlin — 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 66/100 on livability (#67 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: schools D, amenities F, commute F.
• Berlin School District (town): math 24% / reading 30% proficiency, ranked #91 of 98 in NH (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 100 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Coos County population projected at -19% 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 $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $25k; list at $160k implies a 540% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.75% ✓
• Cap rate: 14.39%
• Cash-on-cash: 28.92%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (median comp): $173,361
• List price: $160,000
• Delta: -7.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
665 Gendron St	0.43mi	2/2.0	1,345 (+4%)	3mo	$200,000	$149	67
106 Pershing Ave	0.48mi	3/1.0 (+1)	1,248 (-4%)	2mo	$255,000	$204	65
104 Summer St	0.53mi	3/1.5 (+1)	1,276 (-2%)	3mo	$220,000	$172	63
1816 Hutchins St	0.67mi	2/2.0	1,288 (-1%)	5mo	$167,900	$130	59
642 Howland St	0.50mi	3/1.5 (+1)	1,206 (-7%)	4mo	$119,000	$99	54
71 Denmark St	0.63mi	2/1.5	1,413 (+9%)	1mo	$146,900	$104	54
157 Ruby St	0.54mi	3/1.0 (+1)	1,197 (-8%)	10mo	$178,000	$149	48
80 Maynesboro St	0.71mi	3/1.0 (+1)	1,248 (-4%)	9mo	$225,000	$180	48
433 Hillside Ave	0.64mi	3/1.5 (+1)	1,209 (-7%)	9mo	$135,000	$112	44
285 School St	0.66mi	3/1.5 (+1)	1,399 (+8%)	7mo	$80,000	$57	43
84 Summer St	0.53mi	2/2.0	1,124 (-14%)	8mo	$110,000	$98	42
16 Rheims St	0.57mi	3/2.0 (+1)	1,129 (-13%)	12mo	$210,000	$186	33

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: 44.8%
• Equity multiple: 4.39×
• Total profit: $151,778
• Equity at exit: $144,141

10-year hold

• IRR: 38.8%
• Equity multiple: 9.85×
• Total profit: $396,407
• Equity at exit: $310,845

Cash invested: $44,800 (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 03570

• Home prices YoY: 14.3%
• Active inventory: 100
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$226 /mo · $2,718/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $1,013

Break-even live

Break-even rent $1,517

Max offer price $160,000

Occupancy floor 59%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1878 Riverside Dr Berlin, NH	2.0	1.0	1396	$2,800	$2.01	43d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $160,000 Active 156 DOM
2. 2026-06-17
   days on market $160,000 Active 155 DOM
3. 2026-06-16
   days on market $160,000 Active 154 DOM
4. 2026-06-15
   days on market $160,000 Active 153 DOM
5. 2026-06-13
   days on market $160,000 Active 151 DOM
6. 2026-06-12
   days on market $160,000 Active 150 DOM
7. 2026-06-09
   days on market $160,000 Active 147 DOM
8. 2026-06-08
   days on market $160,000 Active 146 DOM
9. 2026-06-07
   days on market $160,000 Active 145 DOM
10. 2026-06-07
    days on market $160,000 Active 144 DOM
11. 2026-06-04
    days on market $160,000 Active 141 DOM
12. 2026-06-02
    days on market $160,000 Active 140 DOM
13. 2026-06-01
    days on market $160,000 Active 139 DOM
14. 2026-05-31
    days on market $160,000 Active 138 DOM
15. 2026-01-12
    listed $160,000 Active 270-char remark

    Show marketing remark (270 chars)

    Single family home on level lot, 2 large bedrooms and 1.5 baths. There is a workshop shed out back with power to it, and a one car garage. Roof is only 3 years old, furnace and hot water tank are both only one year old. Bring your paintbrush and bring this home to life!

16. 2000-01-27
    soldstatus $25,000 115-char remark

    Show marketing remark (115 chars)

    #5940. WHAT A GOOD VALUE. NEAT LITTLE HOME WITH 3 BEDROOMS. CLOSE TO EVERYTHING. FULL BASEMENT AND DETACHED GARAGE.

17. 1999-12-30
    historical 115-char remark

    Show marketing remark (115 chars)

    #5940. WHAT A GOOD VALUE. NEAT LITTLE HOME WITH 3 BEDROOMS. CLOSE TO EVERYTHING. FULL BASEMENT AND DETACHED GARAGE.

18. 1999-10-07
    listed $25,000 115-char remark

    Show marketing remark (115 chars)

    #5940. WHAT A GOOD VALUE. NEAT LITTLE HOME WITH 3 BEDROOMS. CLOSE TO EVERYTHING. FULL BASEMENT AND DETACHED GARAGE.

ⓘ 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: $2,718 · $226/mo
• Projected year-2 tax: $3,103 · $259/mo
• Expected delta: +$385/yr (+$32/mo · 14.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥85°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,600
• − Mortgage interest: −$8,962
• − Property taxes: −$2,718
• − Insurance: −$1,598
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$4,655
• Taxable income: $10,291
• Est. tax owed @ 24.0%: −$2,470
• After-tax cash flow: $9,690/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: Berlin School District
• NCES district ID: 3301860
• Math proficiency: 24% ▼ -5.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $37,494
• Composite: 22.5/100
• National rank: #8095
• State rank: #91 of 98 in NH

Livability — Berlin

• Score: 66/100
• State rank: #67
• US rank: #11665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berlin, NH
• City population: 9,473
• Population (ZIP): 9,473

Population outlook (Coos County) Hauer SSP2

• Today (2025): 30,912 people
• By 2030: 29,872 · -3.4%
• By 2040: 27,449 · -11.2%
• By 2050: 25,049 · -19.0%
• By 2075: 19,584 · -36.6%
• By 2100: 13,818 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Black 4% Two or more races 4%
• Common ancestry: Lithuanian 21% German 2% Romanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 88% English-only · French/Haitian/Cajun 8% Spanish 4%

Political lean MEDSL · Coos

• 2024 margin: R (+13.8) · D 42.7% · R 56.5%
• 2008→2024 swing: -32.1pp toward R · 2008: 18.3pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+5.9 2016: R+9.1 2012: D+17.6 2008: D+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 55.16%
• Current HPI: 440.9127
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+540.0% since first listed

4 events — show timeline

• 2026-01-12 Listed $160,000 PrimeMLS
• 2000-01-27 Sold (MLS) $25,000 PrimeMLS
• 1999-12-30 Delisted — PrimeMLS
• 1999-10-07 Listed $25,000 PrimeMLS

Property tax history

+5.0%/yr

Latest (2025): $2,718 · +8.8% YoY. Source: county tax records.