135 Mt. Forist St · Berlin, NH 03570

$139,900

5 bd · 2.5 ba · 1,488 sqft · SingleFamily public records · 319 Days on market

Built 1920 Fair condition 4,791 sqft lot $94/sqft · 18% below area Est $225k · 38% under

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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 +23.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +7.6/10.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

This property has experienced freeze damage, which is reflected in the current asking price of $139,900. An estimate from a licensed plumbing and heating contractor places the cost of remediation between $8,500 and $11,500. Estimate documentation is available to qualified buyers upon request. Property is being sold “AS IS, ” presenting a great opportunity for investors, contractors, or buyers looking to build equity. This single-family home offers a spacious and functional layout with strong potential. The first floor features a bright kitchen with island and dining area, convenient first-floor laundry and half bath, and a dedicated storage room. The living room provides an open layout with additional space suitable for a media area or expanded seating. The second level includes a primary bedroom suite with full bath, walk-in closet, and private enclosed back porch, along with a second bedroom, a ¾ bath, and a flexible office or den area. Situated on a corner lot, the property offers a deck, storage shed, ample off-street parking, and mountain views. Outdoor enthusiasts will appreciate direct ATV trail access from the property.

Key facts

• Storage room
• First floor laundry
• Open concept design

Tags

• BRIGHT OPEN KITCHEN
• FIRST FLOOR LAUNDRY
• STORAGE ROOM
• OPEN CONCEPT DESIGN
• WALK IN CLOSET
• PRIVATE ENCLOSED BACK PORCH

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

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: amenities F, commute F, employment 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.
• Zoned schools: Berlin Elementary School (math 35% / reading 33%, grade F, #188 of 263 statewide, top 71%, 422 students, 62% FRL); Berlin Middle School (math 14% / reading 27%, grade F, #88 of 96 statewide, top 93%, 220 students, 47% FRL); Berlin Senior High School (math 27% / reading 32%, grade F, #82 of 90 statewide, top 91%, 368 students, 39% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 138 active listings in the ZIP; lower-income renter base — watch delinquency; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).
• At $1,761/mo this rent would consume 48% of the median local household income ($44k/yr) (locally 16% 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 $15k of equity ($967 loan paydown + $14k 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 $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 319 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $57k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $140k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 319 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.26% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.24%
• DSCR: 1.37
• GRM: 6.6

CMA / ARV

• ARV (median comp): $224,740
• List price: $139,900
• Delta: -37.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 Second Ave	0.07mi	4/1.5 (-1)	1,623 (+9%)	11mo	$243,900	$150	64
671 First Ave	0.17mi	4/2.0 (-1)	1,450 (-3%)	22mo	$143,000	$99	62
25 Laurel St	0.17mi	4/1.0 (-1)	1,296 (-13%)	0mo	$161,900	$125	59
843 5th Ave	0.41mi	4/2.0 (-1)	1,560 (+5%)	11mo	$170,000	$109	57
20 Haskell St	0.42mi	4/2.0 (-1)	1,632 (+10%)	11mo	$247,500	$152	48
403 2Nd Ave	0.38mi	5/1.0	1,296 (-13%)	14mo	$110,000	$85	44
199 Park St	0.66mi	4/2.0 (-1)	1,616 (+9%)	7mo	$175,000	$108	42
182 Willard St	0.55mi	4/1.5 (-1)	1,597 (+7%)	20mo	$125,000	$78	37
216 Emery St	0.59mi	4/1.0 (-1)	1,579 (+6%)	21mo	$250,000	$158	34
209 Park St	0.67mi	4/2.0 (-1)	1,369 (-8%)	19mo	$168,000	$123	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: 30.3%
• Equity multiple: 3.39×
• Total profit: $93,453
• Equity at exit: $126,033

10-year hold

• IRR: 26.3%
• Equity multiple: 7.69×
• Total profit: $261,971
• Equity at exit: $271,795

Cash invested: $39,172 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $139,000 ($86/sqft)
• Median days on market: 282 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +76.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 03570

• Home prices YoY: 14.3%
• Active inventory: 138
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,761 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$330 /mo · $3,965/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $269

Break-even live

Break-even rent $1,421

Max offer price $139,900

Occupancy floor 80%

Sensitivity live

Price	-10% $348	-5% $309	+0% $269	+5% $229	+10% $190
Rent	-10% $130	-5% $200	+0% $269	+5% $339	+10% $408
Rate	-1.0pp $340	-0.5pp $305	base $269	+0.5pp $233	+1.0pp $196

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: $34,975
• Closing costs: $4,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-07-27
   days on market $139,900 Active 319 DOM
2. 2026-07-25
   days on market $139,900 Active 317 DOM
3. 2026-07-24
   days on market $139,900 Active 316 DOM
4. 2026-07-23
   days on market $139,900 Active 315 DOM
5. 2026-07-22
   days on market $139,900 Active 314 DOM
6. 2026-07-21
   days on market $139,900 Active 313 DOM
7. 2026-07-20
   days on market $139,900 Active 312 DOM
8. 2026-07-18
   days on market $139,900 Active 310 DOM
9. 2026-07-17
   days on market $139,900 Active 308 DOM
10. 2026-07-15
    days on market $139,900 Active 307 DOM
11. 2026-07-14
    days on market $139,900 Active 306 DOM
12. 2026-07-13
    days on market $139,900 Active 305 DOM
13. 2026-07-12
    days on market $139,900 Active 304 DOM
14. 2026-07-12
    days on market $139,900 Active 303 DOM
15. 2026-07-10
    days on market $139,900 Active 302 DOM
16. 2026-07-09
    days on market $139,900 Active 301 DOM
17. 2026-07-08
    days on market $139,900 Active 299 DOM
18. 2026-07-06
    days on market $139,900 Active 298 DOM
19. 2026-07-05
    days on market $139,900 Active 297 DOM
20. 2026-07-05
    days on market $139,900 Active 296 DOM
21. 2026-07-03
    days on market $139,900 Active 295 DOM
22. 2026-07-02
    days on market $139,900 Active 294 DOM
23. 2026-07-01
    days on market $139,900 Active 293 DOM
24. 2026-06-30
    days on market $139,900 Active 292 DOM
25. 2026-06-29
    days on market $139,900 Active 291 DOM
26. 2026-06-28
    days on market $139,900 Active 290 DOM
27. 2026-06-27
    days on market $139,900 Active 289 DOM
28. 2026-06-26
    days on market $139,900 Active 288 DOM
29. 2026-06-22
    days on market $139,900 Active 284 DOM
30. 2026-06-21
    days on market $139,900 Active 283 DOM
31. 2026-06-21
    days on market $139,900 Active 282 DOM
32. 2026-06-18
    days on market $139,900 Active 280 DOM
33. 2026-06-17
    days on market $139,900 Active 279 DOM
34. 2026-06-16
    days on market $139,900 Active 278 DOM
35. 2026-06-15
    days on market $139,900 Active 277 DOM
36. 2026-06-13
    days on market $139,900 Active 275 DOM
37. 2026-06-12
    days on market $139,900 Active 274 DOM
38. 2026-06-09
    days on market $139,900 Active 271 DOM
39. 2026-06-08
    days on market $139,900 Active 270 DOM
40. 2026-06-07
    days on market $139,900 Active 269 DOM
41. 2026-06-07
    days on market $139,900 Active 268 DOM
42. 2026-06-04
    days on market $139,900 Active 265 DOM
43. 2026-06-02
    days on market $139,900 Active 264 DOM
44. 2026-06-01
    days on market $139,900 Active 263 DOM
45. 2026-05-31
    days on market $139,900 Active 262 DOM
46. 2026-03-11
    price $139,900 1164-char remark

    Show marketing remark (1164 chars)

    This property has experienced freeze damage, which is reflected in the current asking price of $139,900. An estimate from a licensed plumbing and heating contractor places the cost of remediation between $8,500 and $11,500. Estimate documentation is available to qualified buyers upon request. Property is being sold “AS IS, ” presenting a great opportunity for investors, contractors, or buyers looking to build equity. This single-family home offers a spacious and functional layout with strong potential. The first floor features a bright kitchen with island and dining area, convenient first-floor laundry and half bath, and a dedicated storage room. The living room provides an open layout with additional space suitable for a media area or expanded seating. The second level includes a primary bedroom suite with full bath, walk-in closet, and private enclosed back porch, along with a second bedroom, a ¾ bath, and a flexible office or den area. Situated on a corner lot, the property offers a deck, storage shed, ample off-street parking, and mountain views. Outdoor enthusiasts will appreciate direct ATV trail access from the property.

47. 2026-02-18
    price $172,000 1164-char remark

    Show marketing remark (1164 chars)

    This property has experienced freeze damage, which is reflected in the current asking price of $139,900. An estimate from a licensed plumbing and heating contractor places the cost of remediation between $8,500 and $11,500. Estimate documentation is available to qualified buyers upon request. Property is being sold “AS IS, ” presenting a great opportunity for investors, contractors, or buyers looking to build equity. This single-family home offers a spacious and functional layout with strong potential. The first floor features a bright kitchen with island and dining area, convenient first-floor laundry and half bath, and a dedicated storage room. The living room provides an open layout with additional space suitable for a media area or expanded seating. The second level includes a primary bedroom suite with full bath, walk-in closet, and private enclosed back porch, along with a second bedroom, a ¾ bath, and a flexible office or den area. Situated on a corner lot, the property offers a deck, storage shed, ample off-street parking, and mountain views. Outdoor enthusiasts will appreciate direct ATV trail access from the property.

48. 2025-10-28
    price $189,000 1164-char remark

    Show marketing remark (1164 chars)

    This property has experienced freeze damage, which is reflected in the current asking price of $139,900. An estimate from a licensed plumbing and heating contractor places the cost of remediation between $8,500 and $11,500. Estimate documentation is available to qualified buyers upon request. Property is being sold “AS IS, ” presenting a great opportunity for investors, contractors, or buyers looking to build equity. This single-family home offers a spacious and functional layout with strong potential. The first floor features a bright kitchen with island and dining area, convenient first-floor laundry and half bath, and a dedicated storage room. The living room provides an open layout with additional space suitable for a media area or expanded seating. The second level includes a primary bedroom suite with full bath, walk-in closet, and private enclosed back porch, along with a second bedroom, a ¾ bath, and a flexible office or den area. Situated on a corner lot, the property offers a deck, storage shed, ample off-street parking, and mountain views. Outdoor enthusiasts will appreciate direct ATV trail access from the property.

49. 2025-09-11
    listed $197,000 Active 1164-char remark

    Show marketing remark (1164 chars)

    This property has experienced freeze damage, which is reflected in the current asking price of $139,900. An estimate from a licensed plumbing and heating contractor places the cost of remediation between $8,500 and $11,500. Estimate documentation is available to qualified buyers upon request. Property is being sold “AS IS, ” presenting a great opportunity for investors, contractors, or buyers looking to build equity. This single-family home offers a spacious and functional layout with strong potential. The first floor features a bright kitchen with island and dining area, convenient first-floor laundry and half bath, and a dedicated storage room. The living room provides an open layout with additional space suitable for a media area or expanded seating. The second level includes a primary bedroom suite with full bath, walk-in closet, and private enclosed back porch, along with a second bedroom, a ¾ bath, and a flexible office or den area. Situated on a corner lot, the property offers a deck, storage shed, ample off-street parking, and mountain views. Outdoor enthusiasts will appreciate direct ATV trail access from the property.

50. 2016-03-14
    price $78,000

ⓘ 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: $3,965 · $330/mo
• Projected year-2 tax: $3,965 · $330/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥88°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $21,136
• − Mortgage interest: −$7,837
• − Property taxes: −$3,965
• − Insurance: −$700
• − Repairs & maintenance: −$1,691
• − Management: −$1,691
• − Depreciation: −$4,070
• Taxable income: $1,183
• Est. tax owed @ 24.0%: −$284
• After-tax cash flow: $2,945/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 · 10 photos

Fair 45/100 Moderate rehab Est. rehab $37,200–$66,960 screening

This single-family home requires extensive repairs and maintenance, including roof replacement, exterior painting, HVAC system replacement, and flooring replacement. These updates will significantly improve the home's condition and make it more attractive to potential buyers.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $20,000–$60,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No visible signs of roof damage, but age is unknown
• Major Hvac (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — No visible signs of HVAC damage, but age is unknown

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible signs of wear and tear.
• Major exterior siding — The siding is peeling and the paint is chipping, indicating a need for repainting and possibly repainting.
• Major flooring — The flooring in the interior appears to be carpeted and in poor condition, with visible wear and tear.
• Major interior walls — The interior walls appear to be in poor condition, with visible signs of wear and tear.
• Major HVAC system — The HVAC system appears to be in poor condition, with visible signs of wear and tear.

Value-add opportunities

• Resale roof replacement — A new roof will significantly improve the home's curb appeal and overall condition, making it more attractive to potential buyers. ↑
• Resale exterior painting — Repainting the exterior siding and repainting the interior walls will improve the home's appearance and make it more attractive to potential buyers. ↑
• Resale HVAC system replacement — A new HVAC system will improve the home's comfort and energy efficiency, making it more attractive to potential buyers. ↑
• Resale flooring replacement — Replacing the carpeted flooring with a more durable and attractive material will improve the home's appearance and make it more attractive to potential buyers. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 28/100

Zoned Schools

Elementary Berlin Elementary School F NH #188/263 Nat'l #24,299/41,679 Middle Berlin Middle School F NH #88/96 Nat'l #11,564/14,009 High Berlin Senior High School F NH #82/90 Nat'l #11,215/17,239

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

C Composite livability gradescore 66/100

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
• County: Coos · 30,912 people
• City population: 9,473
• Population (ZIP): 9,473
• Household income: $43,972
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 16% of renters

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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%

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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%

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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

+86.8% since first listed

10 events — show timeline

• 2026-03-11 Price Changed $139,900 PrimeMLS
• 2026-02-18 Price Changed $172,000 PrimeMLS
• 2025-10-28 Price Changed $189,000 PrimeMLS
• 2025-09-11 Listed $197,000 PrimeMLS
• 2016-03-14 Price Changed $78,000 PrimeMLS
• 2009-05-12 Sold (Public Records) $50,000 Public Records
• 2009-05-08 Sold (MLS) $50,000 PrimeMLS
• 2008-04-06 Listed $55,000 PrimeMLS
• 2004-08-19 Sold (MLS) $72,900 PrimeMLS
• 2004-07-21 Listed $74,900 PrimeMLS

Property tax history

+6.5%/yr

Latest (2025): $3,965 · +8.8% YoY. Source: county tax records.