36 Elm St · Derry, NH 03038

$549,000

5 bd · 4.5 ba · 2,352 sqft · MultiFamily public records · 5 Days on market

Built 1920 8,276 sqft lot Est $586k · 6% under

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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 +25.4/30.0
• ARV discount +10.3/15.0
• DSCR +8.4/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Live rent free! This 3 unit building is in excellent condition. 3 bedroom first floor unit with garage is perfect for owner occupied purchaser. (Garage has auto door opener. ) Tenants pay their own heat and electricity. All new windows. Newer appliances. All new flooring. New furnaces (5 & 10 years) and new oil tank. New water heaters. New exterior walkway and brick patio. All electrical has been updated with 100 Amp circuit breakers. Hard wire smoke detectors with pull stations in hall way. 2 parking spaces for each unit. First floor 3 bedroom unit has modern kitchen with island, laundry hook-ups, and a private fenced side yard with a farmer's porch. ($1300/mo. ) The second floor 2 bedroom unit has a huge kitchen, a private deck and laundry hook-ups. ($1050/mo. ). The 3rd floor unit is a large studio efficiency apartment with eat-in bar, an extra large bathroom, a good size closet and attic storage. ($750/mo. ) - No leases. All units are tenant-at-will. 24 Hours notice to show. See non-public remarks for showing instructions. Pre-approved buyers only.

Key facts

• Private deck
• Off street parking
• Three family home

Tags

• THREE FAMILY HOME
• CORNER LOT
• OFF STREET PARKING
• DETACHED GARAGE
• FRONT FARMERS PORCH
• PRIVATE DECK

Property features AI

Finance

• Financial info: Operating expenses include insurance, snow removal, trash, and water/sewer

Exterior

• Parking: One-car garage
• Utilities: Public water; Public sewer; 100 Amp electric service; Cable internet available
• Home design: Multi-family building; Existing property; Grey exterior
• Construction: Wood frame construction; Shingle roof; Built in 1920
• Exterior features: City lot with curbing and sidewalks; in-town location; Paved driveway; Public paved, publicly maintained road frontage

Interior

• Kitchen: Unit 1: Dishwasher, refrigerator, kitchen island; Unit 2: Dishwasher, refrigerator, deck access; Unit 3: Refrigerator
• Bedrooms: Unit 1: 3 bedrooms (level 1); Unit 2: 2 bedrooms (level 2); Unit 3: 1 bedroom / studio (level 3)
• Flooring: Carpet; Vinyl
• Bathrooms: Three full bathrooms total (one in each unit)
• Heating & cooling: Oil-fired hot water heating; No central cooling
• Interior features: Walk-up basement with bulkhead, concrete and dirt floors; unfinished; Dumpster service available
• Laundry & utility: Unit 1 and Unit 2: Laundry hookups; Water heater

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $549k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $419/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $549k).
• Cap rate 9.0% vs local median 2.5% in Derry — 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 81/100 on livability (#13 in NH, #1,420 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: commute F.
• Derry School District (suburban): math 33% / reading 46% proficiency, ranked #62 of 98 in NH (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 118 active listings in the ZIP; solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• At $6,325/mo this rent would consume 70% of the median local household income ($108k/yr) (locally 761% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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 $280k; list at $549k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $549,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.80%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $585,648
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Elm St	0.00mi	6/3.0 (+1)	2,352 (0%)	1mo	$585,000	$249	88
29 Brook St	0.49mi	4/2.0 (-1)	2,328 (-1%)	12mo	$520,000	$223	50
15 Fordway St	0.36mi	4/4.0 (-1)	2,460 (+5%)	24mo	$485,000	$197	48
8 Laurel St	0.40mi	4/3.0 (-1)	2,106 (-10%)	6mo	$565,000	$268	48
50 Franklin St	0.33mi	4/2.0 (-1)	2,097 (-11%)	7mo	$530,000	$253	46
76 E Broadway St	0.58mi	5/3.0	2,169 (-8%)	22mo	$703,000	$324	36
16 Fordway St	0.36mi	5/2.0	2,623 (+12%)	23mo	$610,000	$233	35
51 Birch St	0.70mi	6/5.0 (+1)	2,171 (-8%)	15mo	$810,000	$373	35
4 Moody St	0.35mi	5/1.0	2,588 (+10%)	22mo	$552,500	$213	34

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 · 0.89% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.86×
• Total profit: $-22,077
• Equity at exit: $81,858

10-year hold

• IRR: 3.2%
• Equity multiple: 1.21×
• Total profit: $32,279
• Equity at exit: $47,467

Cash invested: $153,720 (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 03038

• Rents YoY: 0.9%
• Active inventory: 118
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $6,325 high
• Mortgage (P&I): −$2,879
• Tax from tax record: −$633 /mo · $7,600/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,328
• Net cashflow: $1,256

Break-even live

Break-even rent $4,736

Max offer price $549,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,324
Total (3 units)			$6,325

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-12
   status Pending
2. 2026-05-07
   listed $549,000 Active
3. 2026-05-05
   historical $549,000
4. 2026-05-04
   listed $549,000 Active
5. 2017-03-17
   soldstatus $279,900 Closed 1082-char remark

   Show marketing remark (1082 chars)

   Live rent free! This 3 unit building is in excellent condition. 3 bedroom first floor unit with garage is perfect for owner occupied purchaser. (Garage has auto door opener. ) Tenants pay their own heat and electricity. All new windows. Newer appliances. All new flooring. New furnaces (5 & 10 years) and new oil tank. New water heaters. New exterior walkway and brick patio. All electrical has been updated with 100 Amp circuit breakers. Hard wire smoke detectors with pull stations in hall way. 2 parking spaces for each unit. First floor 3 bedroom unit has modern kitchen with island, laundry hook-ups, and a private fenced side yard with a farmer's porch. ($1300/mo. ) The second floor 2 bedroom unit has a huge kitchen, a private deck and laundry hook-ups. ($1050/mo. ). The 3rd floor unit is a large studio efficiency apartment with eat-in bar, an extra large bathroom, a good size closet and attic storage. ($750/mo. ) - No leases. All units are tenant-at-will. 24 Hours notice to show. See non-public remarks for showing instructions. Pre-approved buyers only.

6. 2017-02-03
   status Pending 1082-char remark

   Show marketing remark (1082 chars)

   Live rent free! This 3 unit building is in excellent condition. 3 bedroom first floor unit with garage is perfect for owner occupied purchaser. (Garage has auto door opener. ) Tenants pay their own heat and electricity. All new windows. Newer appliances. All new flooring. New furnaces (5 & 10 years) and new oil tank. New water heaters. New exterior walkway and brick patio. All electrical has been updated with 100 Amp circuit breakers. Hard wire smoke detectors with pull stations in hall way. 2 parking spaces for each unit. First floor 3 bedroom unit has modern kitchen with island, laundry hook-ups, and a private fenced side yard with a farmer's porch. ($1300/mo. ) The second floor 2 bedroom unit has a huge kitchen, a private deck and laundry hook-ups. ($1050/mo. ). The 3rd floor unit is a large studio efficiency apartment with eat-in bar, an extra large bathroom, a good size closet and attic storage. ($750/mo. ) - No leases. All units are tenant-at-will. 24 Hours notice to show. See non-public remarks for showing instructions. Pre-approved buyers only.

7. 2017-01-31
   listed $279,900 Active 1082-char remark

   Show marketing remark (1082 chars)

   Live rent free! This 3 unit building is in excellent condition. 3 bedroom first floor unit with garage is perfect for owner occupied purchaser. (Garage has auto door opener. ) Tenants pay their own heat and electricity. All new windows. Newer appliances. All new flooring. New furnaces (5 & 10 years) and new oil tank. New water heaters. New exterior walkway and brick patio. All electrical has been updated with 100 Amp circuit breakers. Hard wire smoke detectors with pull stations in hall way. 2 parking spaces for each unit. First floor 3 bedroom unit has modern kitchen with island, laundry hook-ups, and a private fenced side yard with a farmer's porch. ($1300/mo. ) The second floor 2 bedroom unit has a huge kitchen, a private deck and laundry hook-ups. ($1050/mo. ). The 3rd floor unit is a large studio efficiency apartment with eat-in bar, an extra large bathroom, a good size closet and attic storage. ($750/mo. ) - No leases. All units are tenant-at-will. 24 Hours notice to show. See non-public remarks for showing instructions. Pre-approved buyers only.

8. 2002-05-30
   soldstatus $152,500 238-char remark

   Show marketing remark (238 chars)

   CASH COW - AMPLE PARKING, GARAGES RENTED AT 100/MO, BRAND NEW BOILER SERVES ALL THREE UNITS, SECOND AND THIRD FLOOR CURRENTLY RENTED AS ONE UNIT FOR $285/WK. FIRST FLOOR AT $950/MO, INCLUDES HEAT AND HW. PLEASE ALLOW 24 HR NOTICE TO SHOW.

9. 2002-03-20
   historical 238-char remark

   Show marketing remark (238 chars)

   CASH COW - AMPLE PARKING, GARAGES RENTED AT 100/MO, BRAND NEW BOILER SERVES ALL THREE UNITS, SECOND AND THIRD FLOOR CURRENTLY RENTED AS ONE UNIT FOR $285/WK. FIRST FLOOR AT $950/MO, INCLUDES HEAT AND HW. PLEASE ALLOW 24 HR NOTICE TO SHOW.

10. 2002-03-04
    listed $169,900 238-char remark

    Show marketing remark (238 chars)

    CASH COW - AMPLE PARKING, GARAGES RENTED AT 100/MO, BRAND NEW BOILER SERVES ALL THREE UNITS, SECOND AND THIRD FLOOR CURRENTLY RENTED AS ONE UNIT FOR $285/WK. FIRST FLOOR AT $950/MO, INCLUDES HEAT AND HW. PLEASE ALLOW 24 HR NOTICE TO SHOW.

ⓘ 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: $7,600 · $633/mo
• Projected year-2 tax: $9,784 · $815/mo
• Expected delta: +$2,184/yr (+$182/mo · 28.7%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,900
• − Mortgage interest: −$30,753
• − Property taxes: −$7,600
• − Insurance: −$2,745
• − Repairs & maintenance: −$6,072
• − Management: −$6,072
• − Depreciation: −$15,971
• Taxable income: $6,688
• Est. tax owed @ 24.0%: −$1,605
• After-tax cash flow: $13,463/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: Derry School District
• NCES district ID: 3302610
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $67,579
• Composite: 35.71/100
• National rank: #4863
• State rank: #62 of 98 in NH

Livability — Derry

• Score: 81/100
• State rank: #13
• US rank: #1420

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Derry, NH
• County: Rockingham County · 137,526 people
• City population: 34,474
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 34,474
• Household income: $108,322
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 761.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4% Asian 1%
• Common ancestry: Lithuanian 12% Romanian 5% Slovak 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -239.00%
• Current HPI: 332.8122
• Rent YoY: ▲ 0.89%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+223.1% since first listed

10 events — show timeline

• 2026-05-12 Pending — PrimeMLS
• 2026-05-07 Listed $549,000 PrimeMLS
• 2026-05-05 Coming Soon $549,000 PrimeMLS
• 2026-05-04 Listed $549,000 PrimeMLS
• 2017-03-17 Sold (MLS) $279,900 PrimeMLS
• 2017-02-03 Pending — PrimeMLS
• 2017-01-31 Listed $279,900 PrimeMLS
• 2002-05-30 Sold (MLS) $152,500 PrimeMLS
• 2002-03-20 Delisted — PrimeMLS
• 2002-03-04 Listed $169,900 PrimeMLS

Property tax history

+3.4%/yr

Latest (2025): $7,600 · +1.6% YoY. Source: county tax records.