34 Upper Meadows Rd · Charlestown, NH 05101

$205,000

4 bd · 2.0 ba · 2,710 sqft · SingleFamily public records · 3 Days on market

Built 1763 2.00 ac lot Est $206k · at est.

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.1/30.0
• ARV discount +7.7/15.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.1/10.0

Listing remarks MLS

Just named the winner of the 2022 Rockingham Old House Award!! Located on a scenic dead end road between Springfield and Rockingham sits a piece of history! This is the oldest home in Rockingham VT, situated on 2 acres of lush land with a beautiful view. This farmhouse features a center chimney, host to two fireplaces and two woodstoves, three downstairs and one fireplace upstairs in the primary bedroom. An addition was put on the house in the 70's, consisting of the 2 car garage with a bedroom/den above, an entryway mudroom with ample storage, and a gorgeous kitchen that flows wonderfully with the older style of the house. In addition to the center chimney in the old portion of the house, the kitchen has its own woodstove, as well as the room above the garage. The original wide-plank wood floors adorn the original portion of the house, and classic built-ins are conveniently located throughout. Out back on the patio you'll find an inviting in-ground pool with ample privacy. If that's not enough, part of the basement has been turned into a wine cellar! If you're looking to own something with many talking points and loads of history, this one is for you!

Key facts

• Bedroom den above
• Original features
• Entryway mudroom

Tags

• OLDEST HOUSE IN ROCKINGHAM
• QUIET DEAD-END ROAD
• ORIGINAL FEATURES
• 2 CAR GARAGE
• BEDROOM DEN ABOVE
• ENTRYWAY MUDROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (17.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (25.7% below list).
• Recommended offer: $152k (25.7% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.4% in Charlestown — 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 71/100 on livability (#39 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, employment A; Watch: housing D, health & safety D, amenities F.
• Zoned schools: Bellows Falls Middle School (math 17% / reading 32%, grade F, #23 of 26 statewide, top 88%, 242 students, 55% FRL); Bellows Falls Union High School (math 27% / reading 37%, grade F, #29 of 48 statewide, top 68%, 318 students, 49% FRL).
• Market conditions: 188 units permitted in Windham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Windham County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: built in 1763 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,279 (25.7% 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. Built in 1763 — 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. 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?
5. 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.
6. 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.
7. 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: 0.74% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.18%
• DSCR: 0.81
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $205,960
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Upper Meadows Rd	0.00mi	4/2.0	2,710 (0%)	1mo	$205,000	$76	99

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: 21.3%
• Equity multiple: 2.72×
• Total profit: $98,928
• Equity at exit: $184,680

10-year hold

• IRR: 19.3%
• Equity multiple: 6.25×
• Total profit: $301,370
• Equity at exit: $398,270

Cash invested: $57,400 (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 05101

• Home prices YoY: 7.0%
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,523 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$242 /mo · $2,910/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $-200

Break-even live

Break-even rent $1,776

Max offer price $169,678

Occupancy floor —

Sensitivity live

Price	-10% $-84	-5% $-142	+0% $-200	+5% $-258	+10% $-316
Rent	-10% $-320	-5% $-260	+0% $-200	+5% $-140	+10% $-80
Rate	-1.0pp $-97	-0.5pp $-148	base $-200	+0.5pp $-253	+1.0pp $-307

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-14
   status Pending
2. 2026-04-10
   listed $205,000 Active
3. 2024-10-04
   price $439,000
4. 2024-09-20
   price $459,000
5. 2023-04-03
   soldstatus $416,250
6. 2023-03-29
   soldstatus $416,250 Closed 1170-char remark

   Show marketing remark (1170 chars)

   Just named the winner of the 2022 Rockingham Old House Award!! Located on a scenic dead end road between Springfield and Rockingham sits a piece of history! This is the oldest home in Rockingham VT, situated on 2 acres of lush land with a beautiful view. This farmhouse features a center chimney, host to two fireplaces and two woodstoves, three downstairs and one fireplace upstairs in the primary bedroom. An addition was put on the house in the 70's, consisting of the 2 car garage with a bedroom/den above, an entryway mudroom with ample storage, and a gorgeous kitchen that flows wonderfully with the older style of the house. In addition to the center chimney in the old portion of the house, the kitchen has its own woodstove, as well as the room above the garage. The original wide-plank wood floors adorn the original portion of the house, and classic built-ins are conveniently located throughout. Out back on the patio you'll find an inviting in-ground pool with ample privacy. If that's not enough, part of the basement has been turned into a wine cellar! If you're looking to own something with many talking points and loads of history, this one is for you!

7. 2023-01-26
   historical Active with Contract 1170-char remark

   Show marketing remark (1170 chars)

   Just named the winner of the 2022 Rockingham Old House Award!! Located on a scenic dead end road between Springfield and Rockingham sits a piece of history! This is the oldest home in Rockingham VT, situated on 2 acres of lush land with a beautiful view. This farmhouse features a center chimney, host to two fireplaces and two woodstoves, three downstairs and one fireplace upstairs in the primary bedroom. An addition was put on the house in the 70's, consisting of the 2 car garage with a bedroom/den above, an entryway mudroom with ample storage, and a gorgeous kitchen that flows wonderfully with the older style of the house. In addition to the center chimney in the old portion of the house, the kitchen has its own woodstove, as well as the room above the garage. The original wide-plank wood floors adorn the original portion of the house, and classic built-ins are conveniently located throughout. Out back on the patio you'll find an inviting in-ground pool with ample privacy. If that's not enough, part of the basement has been turned into a wine cellar! If you're looking to own something with many talking points and loads of history, this one is for you!

8. 2022-11-09
   price $399,000 1170-char remark

   Show marketing remark (1170 chars)

   Just named the winner of the 2022 Rockingham Old House Award!! Located on a scenic dead end road between Springfield and Rockingham sits a piece of history! This is the oldest home in Rockingham VT, situated on 2 acres of lush land with a beautiful view. This farmhouse features a center chimney, host to two fireplaces and two woodstoves, three downstairs and one fireplace upstairs in the primary bedroom. An addition was put on the house in the 70's, consisting of the 2 car garage with a bedroom/den above, an entryway mudroom with ample storage, and a gorgeous kitchen that flows wonderfully with the older style of the house. In addition to the center chimney in the old portion of the house, the kitchen has its own woodstove, as well as the room above the garage. The original wide-plank wood floors adorn the original portion of the house, and classic built-ins are conveniently located throughout. Out back on the patio you'll find an inviting in-ground pool with ample privacy. If that's not enough, part of the basement has been turned into a wine cellar! If you're looking to own something with many talking points and loads of history, this one is for you!

9. 2022-10-06
   listed $425,000 Active 1170-char remark

   Show marketing remark (1170 chars)

   Just named the winner of the 2022 Rockingham Old House Award!! Located on a scenic dead end road between Springfield and Rockingham sits a piece of history! This is the oldest home in Rockingham VT, situated on 2 acres of lush land with a beautiful view. This farmhouse features a center chimney, host to two fireplaces and two woodstoves, three downstairs and one fireplace upstairs in the primary bedroom. An addition was put on the house in the 70's, consisting of the 2 car garage with a bedroom/den above, an entryway mudroom with ample storage, and a gorgeous kitchen that flows wonderfully with the older style of the house. In addition to the center chimney in the old portion of the house, the kitchen has its own woodstove, as well as the room above the garage. The original wide-plank wood floors adorn the original portion of the house, and classic built-ins are conveniently located throughout. Out back on the patio you'll find an inviting in-ground pool with ample privacy. If that's not enough, part of the basement has been turned into a wine cellar! If you're looking to own something with many talking points and loads of history, this one is for you!

10. 2022-06-04
    price $425,000
11. 2022-01-27
    price $400,000
12. 2003-11-05
    soldstatus $285,000
13. 2003-10-31
    soldstatus $285,000
14. 2003-06-21
    listed $295,000
15. 1999-07-20
    soldstatus $145,000

ⓘ 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: $2,910 · $242/mo
• Projected year-2 tax: $3,689 · $307/mo
• Expected delta: +$780/yr (+$65/mo · 26.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,273
• − Mortgage interest: −$11,483
• − Property taxes: −$2,910
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$5,964
• Taxable loss: −$6,032
• Est. tax savings @ 24.0%: +$1,448
• After-tax cash flow: $-952/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)

No district data.

Livability — Charlestown

• Score: 71/100
• State rank: #39
• US rank: #6553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,135

Population outlook (Windham County) Hauer SSP2

• Today (2025): 40,432 people
• By 2030: 38,472 · -4.8%
• By 2040: 33,954 · -16.0%
• By 2050: 29,774 · -26.4%
• By 2075: 22,351 · -44.7%
• By 2100: 15,961 · -60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Slovak 5% Italian 4%
• Foreign-born: 2% · South Korea
• Languages at home: 96% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Windham

• 2024 margin: Solid D (+42.7) · D 69.6% · R 26.9% · Other 3.5%
• 2008→2024 swing: -5.4pp toward R · 2008: 48.1pp · 2024: 42.7pp
• All cycles: 2024: D+42.7 2020: D+47.3 2016: D+42.0 2012: D+49.2 2008: D+48.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.90%
• Current HPI: 335.6166
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+41.4% since first listed

15 events — show timeline

• 2026-04-14 Pending — PrimeMLS
• 2026-04-10 Listed $205,000 PrimeMLS
• 2024-10-04 Price Changed $439,000 PrimeMLS
• 2024-09-20 Price Changed $459,000 PrimeMLS
• 2023-04-03 Sold (Public Records) $416,250 Public Records
• 2023-03-29 Sold (MLS) $416,250 PrimeMLS
• 2023-01-26 Contingent — PrimeMLS
• 2022-11-09 Price Changed $399,000 PrimeMLS
• 2022-10-06 Listed $425,000 PrimeMLS
• 2022-06-04 Price Changed $425,000 PrimeMLS
• 2022-01-27 Price Changed $400,000 PrimeMLS
• 2003-11-05 Sold (Public Records) $285,000 Public Records
• 2003-10-31 Sold (MLS) $285,000 PrimeMLS
• 2003-06-21 Listed $295,000 PrimeMLS
• 1999-07-20 Sold (Public Records) $145,000 Public Records

Property tax history

-3.4%/yr

Latest (2024): $2,910 · +7.4% YoY. Source: county tax records.