38 Somersworth Portfolio Unit Somersworth · Somersworth, NH 03878

$6,600,000

None bd · None ba · 35,785 sqft · MultiFamily · 9 Days on market

Built 1824 Fair condition 1.32 ac lot

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

The Portfolio at 17-31 Market Street, 62 Green Street, and 260 Main Street contains thirty-eight (38) units consisting of three (3) 3-Bedroom/1-Bathroom units, twenty-eight (28) 2-Bedroom/1-Bathroom units, and seven (7) 1-Bedroom/1-Bathroom units with 35,785 square feet of gross living area in 49,680 square feet of gross area. The Property is on a combined 1.32 acres of land and features over thirty-eight (38) parking spaces between the Properties. 260 Main Street is a two-story building containing twelve (12), 2-Bedroom/1-Bathroom residential units with 9,936 square feet of living area in 15,062 square feet of total gross area on a 0.53-acre parcel. The Property is separately metered for e

Key facts

• 1.32 acre lot
• Built 1824
• Listed 9 days

Property features AI

Finance

• Other: Operating expenses include heat, insurance, maintenance, snow removal, trash, utilities, and water/sewer
• Financial info: Reported net income: $502,225

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; Electric service: Other; Internet: Unknown; Utilities vary by unit
• Home design: Multi-unit property (38 units); Existing construction
• Construction: Built in 1824; Exterior materials include aluminum, brick, clapboard, and vinyl; Asphalt shingle roof and other roof types
• Exterior features: Paved driveway; Public road frontage (paved); Road frontage length approximately 50 feet; Lot details: Other

Interior

• Bedrooms: 38 units total: 7 one-bedroom units, 28 two-bedroom units, 3 three-or-more-bedroom units
• Heating & cooling: Natural gas heating; Cooling: Other
• Interior features: Basement with interior access

What this means for you Summary

Snapshot

• This is a multifamily listed at $6.60M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $14k ($165k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($75k rent vs $6.60M).
• Cap rate 8.8% vs local median 3.5% in Somersworth — 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 80/100 on livability (#17 in NH, #1,853 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities F.
• Somersworth School District (suburban): math 16% / reading 30% proficiency, ranked #93 of 98 in NH (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 active listings in the ZIP; solid renter incomes; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).
• At $75,111/mo this rent would consume 1200% of the median local household income ($75k/yr) (locally 560% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $46k of loan paydown is wiped out by about $198k of value loss. Plan a longer hold.
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1824 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $6,600,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1824 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-194,097
• Equity at exit: $984,081

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $961,328
• Equity at exit: $570,647

Cash invested: $1,848,000 (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 03878

• Home prices YoY: -26.1%
• Active inventory: 46
• Price-to-rent: 252.1×

Monthly cashflow live

• Estimated rent: $75,111 high
• Mortgage (P&I): −$34,611
• Tax est. 1.5%: −$8,250 /mo · $99,000/yr
• Insurance: −$2,750
• HOA: −$0
• Vacancy / Maint / Mgmt: −$15,773
• Net cashflow: $13,727

Break-even live

Break-even rent $57,736

Max offer price $6,600,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,546
▸ 28× units	2	1	$55,636
▸ 7× units	1	1	$12,929
Total (38 units)			$75,111

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: $1,650,000
• Closing costs: $198,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $6,600,000 Active 9 DOM
2. 2026-06-17
   days on market $6,600,000 Active 8 DOM
3. 2026-06-16
   days on market $6,600,000 Active 7 DOM
4. 2026-06-15
   days on market $6,600,000 Active 6 DOM
5. 2026-06-13
   days on market $6,600,000 Active 4 DOM
6. 2026-06-13
   days on market $6,600,000 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $6,600,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $901,332
• − Mortgage interest: −$369,703
• − Property taxes: −$99,000
• − Insurance: −$33,000
• − Repairs & maintenance: −$72,107
• − Management: −$72,107
• − Depreciation: −$192,000
• Taxable income: $63,416
• Est. tax owed @ 24.0%: −$15,220
• After-tax cash flow: $149,499/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 · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its resale and rental value. Key areas for improvement include exterior painting, interior updates, and HVAC maintenance.

Repairs flagged

• Minor Kitchen cabinets — Cabinets show signs of wear.
• Minor Bathroom fixtures — Fixtures appear outdated.
• Moderate Exterior siding — Siding shows signs of wear and needs repainting.
• Moderate Carpeted flooring — Floors need replacement or refinishing.
• Moderate Paint — Paint needs touch-up or repainting.
• Moderate HVAC system — System may need maintenance or replacement.
• Moderate Landscaping — Landscaping needs updating and maintenance.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace worn-out fixtures and appliances — Modernizing the kitchen and bathrooms improves functionality and appeal.
• Both Landscaping and curb appeal — A well-maintained exterior boosts curb appeal and property value.
• Both HVAC system maintenance or replacement — A reliable HVAC system ensures comfort and energy efficiency, attracting tenants and buyers.
• Both Flooring replacement — New flooring in common areas and bathrooms enhances the overall look and feel of the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets show signs of wear.	Minor	$500–3,000
Bathroom fixtures · Fixtures appear outdated.	Minor	$500–3,000
Exterior siding · Siding shows signs of wear and needs repainting.	Moderate	$3,000–15,000
Carpeted flooring · Floors need replacement or refinishing.	Moderate	$3,000–15,000
Paint · Paint needs touch-up or repainting.	Moderate	$3,000–15,000
HVAC system · System may need maintenance or replacement.	Moderate	$3,000–15,000
Landscaping · Landscaping needs updating and maintenance.	Moderate	$3,000–15,000
Total estimated repair cost · 7 items		$16,000–81,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace worn-out fixtures and appliances — Modernizing the kitchen and bathrooms improves functionality and appeal. ↑
• Both Landscaping and curb appeal — A well-maintained exterior boosts curb appeal and property value. ↑
• Both HVAC system maintenance or replacement — A reliable HVAC system ensures comfort and energy efficiency, attracting tenants and buyers. ↑
• Both Flooring replacement — New flooring in common areas and bathrooms enhances the overall look and feel of the property. ↑

ⓘ 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: Somersworth School District
• NCES district ID: 3306240
• Math proficiency: 16% ▼ -21.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $55,501
• Composite: 20.87/100
• National rank: #8496
• State rank: #93 of 98 in NH

Livability — Somersworth

• Score: 80/100
• State rank: #17
• US rank: #1853

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Somersworth, NH
• County: Strafford County · 75,181 people
• City population: 12,205
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 12,205
• Household income: $75,136
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 560.0

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 9% Hispanic / Latino 6% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 13% Romanian 3% Slovak 3%
• Foreign-born: 6% · Canada, Jamaica, China
• Languages at home: 94% English-only · Other Asian/Pacific 2% Spanish 2%

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.70%
• Current HPI: 338.5583
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-09 Listed $6,600,000 PrimeMLS