676 Cohas Ave · Manchester, NH 03109

$489,900

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 7 Days on market

Built 1980 0.54 ac lot Est $409k · 20% over

---

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).

• Livability +4.2/5.0
• Cash flow +3.9/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Many possibilities to be added to this basic split level home with a 1 car under and finished basement, was once home to a one chair beauty salon. With a 3/4 bath in basement. Live and work at home. A large finished room in basement with a working wood stove. First floor features 3 bedrooms full bath, Living room with working fireplace possible can be converted to a ADU. Kitchen with eat in dining area. 3 season porch off the back. Nicely maintained back yard. Suitable for gardening plenty . Plenty of room to play and possibly add a pool.

Key facts

• 3/4 bath in basement
• Finished basement
• Working wood stove

Tags

• RAISED RANCH
• FINISHED BASEMENT
• WORKING WOOD STOVE
• 3/4 BATH IN BASEMENT
• HOME OFFICE POTENTIAL

Property features AI

Exterior

• Parking: One-car garage
• Utilities: Public water (at street); Public sewer; 200 Amp electric service; Electric service by Eversource; Cable internet available; phone and cable service available
• Home design: Split-level home; Existing construction
• Construction: Built in 1980; Wood frame construction; Asphalt shingle roof
• Exterior features: Paved driveway; Neighborhood lot setting; Road frontage on a paved, public maintained road

Interior

• Bathrooms: One full bathroom; One 3/4 bathroom
• Heating & cooling: Electric heat; Wood stove
• Interior features: Five total rooms; Full finished, insulated basement with concrete floor and exterior access via basement stairs; Basement has interior access

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $490k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (50.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (51.1% below list).
• Recommended offer: $239k (51.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 83/100 on livability (#10 in NH, #879 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Manchester School District (urban): math 14% / reading 27% proficiency, ranked #96 of 98 in NH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Weston Elementary School (math 12% / reading 27%, grade F, #248 of 263 statewide, top 95%, 483 students, 43% FRL).
• Market conditions: 35 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,354 (51.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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 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: 0.49% ✗
• Cap rate: 2.88%
• Cash-on-cash: -12.20%
• DSCR: 0.46
• GRM: 17.1

CMA / ARV

• ARV (on-the-fly): $409,320
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 Hermit Rd	0.17mi	2/1.0 (-1)	1,032 (-4%)	11mo	$280,000	$271	66
45 Crescent Ln	0.50mi	3/2.0	1,121 (+4%)	23mo	$425,000	$379	51
45 Bryant Rd	0.48mi	3/2.0	1,200 (+11%)	9mo	$510,000	$425	51
29 Crescent Ln	0.49mi	3/1.0	1,152 (+7%)	15mo	$392,000	$340	49
6 Whitewater Dr	0.49mi	3/1.5	1,196 (+11%)	12mo	$195,000	$163	47
226 Brickett Rd	0.73mi	2/2.0 (-1)	1,224 (+13%)	14mo	$465,000	$380	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -38.9%
• Equity multiple: -0.23×
• Total profit: $-168,215
• Equity at exit: $73,046

10-year hold

• IRR: -59.8%
• Equity multiple: -0.90×
• Total profit: $-260,933
• Equity at exit: $42,358

Cash invested: $137,172 (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 →

ZIP-level market 03109

• Home prices YoY: -19.7%
• Active inventory: 35
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $2,394 medium
• Mortgage (P&I): −$2,569
• Tax from tax record: −$512 /mo · $6,144/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-1,394

Break-even live

Break-even rent $4,158

Max offer price $243,588

Occupancy floor —

Sensitivity live

Price	-10% $-1,117	-5% $-1,256	+0% $-1,394	+5% $-1,533	+10% $-1,672
Rent	-10% $-1,583	-5% $-1,489	+0% $-1,394	+5% $-1,300	+10% $-1,205
Rate	-1.0pp $-1,148	-0.5pp $-1,270	base $-1,394	+0.5pp $-1,521	+1.0pp $-1,650

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1799 Bodwell Rd #2 Manchester, NH	2.0	1.0	795	$1,695	$2.13	14d	1	1.17mi
1025 S Mammoth Rd #6 Manchester, NH	2.0	1.5	1080	$2,500	$2.31	14d	1	1.36mi
1124 S Mammoth Rd Manchester, NH	3.0	1.5	1320	$3,050	$2.31	14d	1	1.48mi

Listing history 1 events

1. 2026-05-18
   listed $489,900 Active

ⓘ 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: $6,144 · $512/mo
• Projected year-2 tax: $8,412 · $701/mo
• Expected delta: +$2,268/yr (+$189/mo · 36.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,722
• − Mortgage interest: −$27,442
• − Property taxes: −$6,144
• − Insurance: −$2,450
• − Repairs & maintenance: −$2,298
• − Management: −$2,298
• − Depreciation: −$14,252
• Taxable loss: −$26,160
• Est. tax savings @ 24.0%: +$6,278
• After-tax cash flow: $-10,453/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: Manchester School District
• NCES district ID: 3304590
• Math proficiency: 14% ▼ -10.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $54,096
• Composite: 18.67/100
• National rank: #8886
• State rank: #96 of 98 in NH

Livability — Manchester

• Score: 83/100
• State rank: #10
• US rank: #879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, NH
• City population: 110,172
• Population (ZIP): 10,118

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 412,771 people
• By 2030: 410,974 · -0.4%
• By 2040: 399,959 · -3.1%
• By 2050: 381,542 · -7.6%
• By 2075: 339,855 · -17.7%
• By 2100: 289,270 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Asian 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 11% Romanian 3% Russian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 91% English-only · French/Haitian/Cajun 4% Other Indo-European 3% German/W. Germanic 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 50.9% · R 48.0% · Other 1.0%
• 2008→2024 swing: -0.9pp no change · 2008: 3.8pp · 2024: 2.9pp
• All cycles: 2024: D+2.9 2020: D+7.7 2016: R+0.2 2012: D+1.7 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.66%
• Current HPI: 353.7732
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-18 Listed $489,900 PrimeMLS

Property tax history

+2.2%/yr

Latest (2024): $6,144 · +3.8% YoY. Source: county tax records.