25 Central Sq · Troy, NH 03465

$385,000

4 bd · 3.5 ba · 2,463 sqft · MultiFamily public records · 7 Days on market

Built 1889 3,484 sqft lot Est $357k · 8% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +4.0/15.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This attractive building, located on the common, is in excellent condition and offers two large two bedroom apartments plus a storefront. Mt Monadnock view from 2nd floor apartment. Great income potential.

Key facts

• 3 unit property
• Off street parking
• 4 unit building

Tags

• 3 UNIT PROPERTY
• 4 UNIT BUILDING
• LONG TERM STABLE TENANTS
• OFF STREET PARKING
• COMMERCIAL AND RESIDENTIAL USE

Property features AI

Finance

• Other: Operating expenses include insurance, snow removal, trash, water/sewer and other expenses
• Financial info: Reported net income: $35,376
• HOA & community: No HOA information provided

Exterior

• Parking: Common/shared driveway
• Security: No security features listed
• Utilities: Public sewer; Public water; Circuit breaker electrical service; High-speed internet available; Other utilities listed
• Home design: Multi-family building; Existing structure built in 1889; Wood frame construction; Shingle roof
• Construction: Wood frame construction; Shingle roof; Built in 1889; Partially finished basement
• Exterior features: Level lot in town with sidewalks and nearby shopping; Shared/crushed stone driveway; Curbside trash service

Interior

• Kitchen: No specific appliances listed
• Bedrooms: Three units totaling five bedrooms: two 2-bedroom units and one 1-bedroom unit; Unit breakdown: Unit 1 — 2 bedrooms; Unit 2 — 1 bedroom; Unit 3 — 2 bedrooms
• Flooring: No flooring details provided
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Electric heating; No central cooling
• Interior features: Partially finished walk-up basement
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $521/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $385k).
• Cap rate 11.2% vs local median 2.1% in Troy — 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 65/100 on livability (#75 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Monadnock Regional School District (rural): math 25% / reading 36% proficiency, ranked #82 of 98 in NH (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Troy Elementary School (math 22% / reading 32%, grade F, #219 of 263 statewide, top 86%, 135 students, 41% FRL).
• Market conditions: 13 active listings in the ZIP; 166 units permitted in Cheshire County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Cheshire County population projected at -18% 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 $108k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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 $121k; list at $385k implies a 218% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $385,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.38% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.38%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $357,135
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Central Sq	0.07mi	5/4.0 (+1)	2,519 (+2%)	21mo	$365,000	$145	68

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: 37.2%
• Equity multiple: 3.87×
• Total profit: $309,222
• Equity at exit: $346,839

10-year hold

• IRR: 32.0%
• Equity multiple: 8.72×
• Total profit: $832,535
• Equity at exit: $747,970

Cash invested: $107,800 (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 03465

• Home prices YoY: 22.7%
• Active inventory: 13
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $5,332 medium
• Mortgage (P&I): −$2,019
• Tax from tax record: −$471 /mo · $5,654/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,120
• Net cashflow: $1,562

Break-even live

Break-even rent $3,355

Max offer price $385,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,780	-5% $1,671	+0% $1,562	+5% $1,453	+10% $1,344
Rent	-10% $1,140	-5% $1,351	+0% $1,562	+5% $1,772	+10% $1,983
Rate	-1.0pp $1,756	-0.5pp $1,660	base $1,562	+0.5pp $1,462	+1.0pp $1,360

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$5,331
Total (3 units)			$5,332

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   status $385,000 Pending 7 DOM
2. 2026-06-17
   days on market $385,000 Active 7 DOM
3. 2026-06-16
   days on market $385,000 Active 6 DOM
4. 2026-06-15
   days on market $385,000 Active 5 DOM
5. 2026-06-14
   days on market $385,000 Active 3 DOM
6. 2026-06-12
   remarks 699-char remark
7. 2026-06-12
   listed $385,000 Active 2 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: $5,654 · $471/mo
• Projected year-2 tax: $7,024 · $585/mo
• Expected delta: +$1,370/yr (+$114/mo · 24.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,984
• − Mortgage interest: −$21,566
• − Property taxes: −$5,654
• − Insurance: −$1,925
• − Repairs & maintenance: −$5,119
• − Management: −$5,119
• − Depreciation: −$11,200
• Taxable income: $13,402
• Est. tax owed @ 24.0%: −$3,216
• After-tax cash flow: $15,524/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: Monadnock Regional School District
• NCES district ID: 3304890
• Math proficiency: 25% ▼ -16.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $56,314
• Composite: 27.18/100
• National rank: #7024
• State rank: #82 of 98 in NH

Livability — Troy

• Score: 65/100
• State rank: #75
• US rank: #13189

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, NH
• City population: 2,034
• Population (ZIP): 2,034

Population outlook (Cheshire County) Hauer SSP2

• Today (2025): 74,613 people
• By 2030: 72,495 · -2.8%
• By 2040: 66,778 · -10.5%
• By 2050: 60,963 · -18.3%
• By 2075: 49,511 · -33.6%
• By 2100: 39,687 · -46.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 1%
• Common ancestry: Lithuanian 16% Italian 4% Romanian 3%
• Foreign-born: 1%
• Languages at home: 94% English-only · Russian/Polish/Slavic 2% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Cheshire

• 2024 margin: Lean D (+9.8) · D 54.4% · R 44.6% · Other 1.1%
• 2008→2024 swing: -17.8pp toward R · 2008: 27.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+17.2 2016: D+12.6 2012: D+24.8 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 69.25%
• Current HPI: 374.7552
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+198.4% since first listed

4 events — show timeline

• 2026-06-10 Listed $385,000 PrimeMLS
• 2008-03-26 Sold (Public Records) $121,000 Public Records
• 2008-03-26 Sold (MLS) $121,000 PrimeMLS
• 2008-01-03 Listed $129,000 PrimeMLS

Property tax history

+3.4%/yr

Latest (2025): $5,654 · +125.1% YoY. Source: county tax records.