14 & 16 Main St · Northumberland, NH 03582

$475,000

4 bd · 2.0 ba · 2,342 sqft · MultiFamily public records · 15 Days on market

Built 1900 2,178 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Cash flow +6.8/30.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• 1% rule +0.6/10.0

Multi-family units

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

Listing remarks MLS

This is a well maintained 5 unit multifamily building located within walking distance to all in town amenities. Commercial space on the main floor fronts Main St and will be available to generate additional income. There is a portion of the building that has the space to add in a 3 bed 2 bath unit or a 4 bed 1 bath unit as well, spanning two floors. This property has long term tenants that are in good standing. With uncertainty in the economy and stock market, investing into a hard asset such as real estate that can generate consistent cash flow like this property does is a no brainer. Call today to setup a showing and put your money to work for you.

Key facts

• Mixed-use building
• 2,178 sq ft lot
• Built 1900

Tags

• MULTI-UNIT INVESTMENT PROPERTY
• MIXED-USE BUILDING
• RECENTLY RENOVATED UNITS
• DEDICATED OFFICE SPACE
• WALKABLE NEIGHBORHOOD
• PROXIMITY TO ATV TRAILS

Property features AI

Finance

• Other: Operating expenses may include heat, insurance, maintenance, water/sewer and other items
• Financial info: Reported net income: $36,926
• HOA & community: No HOA information provided

Exterior

• Parking: No driveway
• Security: No specific security features provided
• Utilities: Public sewer; Public water; Circuit breaker electrical service; Municipal trash service; Cable available; High-speed internet available
• Home design: Apartment building; Existing structure; White exterior
• Construction: Wood frame with vinyl siding; Built in 1900; Flat/rolled roof
• Exterior features: City lot with curb and sidewalks; Level lot; Mountain views; Street lights and nearby trails; Near shopping and town amenities; Corner location at Main St and State St beside the park; Paved public road frontage

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Three 1-bedroom units; Three 2-bedroom units; One office-style unit
• Flooring: Carpet; Laminate; Vinyl; Combination flooring
• Bathrooms: Six full bathrooms; Each unit includes one bathroom
• Heating & cooling: Electric heat; No central cooling reported
• Interior features: Interior-access basement; Stairs to basement from inside
• Laundry & utility: No specific washer/dryer or utility room details provided

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $-741 ($-9k/yr) — negative. Per door: $-247/mo.
• To cash-flow at today's rent, offer at most $344k (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (44.2% below list).
• Recommended offer: $265k (44.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Northumberland School District (rural): math 25% / reading 40% proficiency, ranked #154 of 171 in NH (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Groveton Elementary School (math 17% / reading 32%, grade F, #230 of 263 statewide, top 91%, 127 students, 53% FRL).
• Market conditions: 17 active listings in the ZIP; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($3k loan paydown + $19k appreciation (4.0% local appreciation)).
• Coos County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $150k; list at $475k implies a 217% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $265,200 (44.2% 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. 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 1900 — 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. 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?
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 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: 0.56% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.69%
• DSCR: 0.70
• GRM: 14.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.28×
• Total profit: $36,687
• Equity at exit: $242,201

10-year hold

• IRR: 7.3%
• Equity multiple: 2.24×
• Total profit: $164,732
• Equity at exit: $397,235

Cash invested: $133,000 (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 03582

• Home prices YoY: 1.0%
• Active inventory: 17
• Price-to-rent: 44.8×

Monthly cashflow live

• Estimated rent: $2,652 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$147 /mo · $1,768/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-741

Break-even live

Break-even rent $3,590

Max offer price $344,078

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$2,652
Total (3 units)			$2,652

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $475,000 Active 15 DOM
2. 2026-06-17
   days on market $475,000 Active 14 DOM
3. 2026-06-16
   days on market $475,000 Active 13 DOM
4. 2026-06-15
   days on market $475,000 Active 12 DOM
5. 2026-06-13
   days on market $475,000 Active 10 DOM
6. 2026-06-12
   days on market $475,000 Active 9 DOM
7. 2026-06-09
   days on market $475,000 Active 6 DOM
8. 2026-06-08
   days on market $475,000 Active 5 DOM
9. 2026-06-07
   days on market $475,000 Active 4 DOM
10. 2026-06-07
    days on market $475,000 Active 3 DOM
11. 2026-06-04
    remarks 687-char remark
12. 2026-06-04
    listed $475,000 Active 1 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: $1,768 · $147/mo
• Projected year-2 tax: $6,062 · $505/mo
• Expected delta: +$4,294/yr (+$358/mo · 242.8%)

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

Taxation est. · year 1

• Rental income: $31,824
• − Mortgage interest: −$26,607
• − Property taxes: −$1,768
• − Insurance: −$2,375
• − Repairs & maintenance: −$2,546
• − Management: −$2,546
• − Depreciation: −$13,818
• Taxable loss: −$17,836
• Est. tax savings @ 24.0%: +$4,281
• After-tax cash flow: $-4,613/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: Northumberland School District
• NCES district ID: 3305400
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $38,490
• Composite: 29.88/100
• National rank: #11685
• State rank: #154 of 171 in NH

Livability — Northumberland

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Groveton, NH
• Population (ZIP): 2,218

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 (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Lithuanian 19% Slovak 3% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Other Indo-European 4% French/Haitian/Cajun 2% Spanish 1%

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: ▲ 4.05%
• Current HPI: 409.9305
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+171.4% since first listed

5 events — show timeline

• 2026-06-03 Listed $475,000 PrimeMLS
• 2022-06-27 Sold (Public Records) $150,000 Public Records
• 2022-06-17 Sold (MLS) $150,000 PrimeMLS
• 2022-06-13 Pending — PrimeMLS
• 2022-06-01 Listed $175,000 PrimeMLS

Property tax history

-1.3%/yr

Latest (2024): $1,768 · +4.9% YoY. Source: county tax records.