75 W Main St

Littleton, NH 03561

$599,000B+

8 bd · 8.0 ba · 2,938 sqft · Built 1920 · MultiFamily · Active · 67 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,274/mo
• Mortgage (P&I): −$3,141
• Tax + insurance: −$696
• HOA: −$0
• Vac / Maint / Mgmt: −$1,528
• Net cashflow: $1,909/mo
• Annual: $22,913/yr
• Cap rate: 10.12%
• Cash-on-cash: 13.66%
• DSCR: 1.61
• 1% rule: 1.21%
• Cash to close: $167,720

Investor read

• This is a 7 × 1-bed/1-bath units multifamily listed at $599k.
• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $273/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $599k).
• It's been on market 67 days — a 6% lower offer ($563k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $563k (6.0% below list) — sets the bar for market timing.
• In year one you build about $64k of equity ($4k loan paydown + $60k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#80 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: schools D+, amenities F, commute F.
• Littleton School District (town): math 43% / reading 51% proficiency, ranked #51 of 98 in NH (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $146k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $230k; list at $599k implies a 160% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$103k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 10.1% vs local median 2.9% in Littleton — 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.

Questions for listing agent

• It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.