246 Broad St · Claremont, NH 03743

$555,000

45 bd · 20.0 ba · 3,885 sqft · MultiFamily · 10 Days on market

Built 1900 9,583 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Downtown Broad Street in Claremont features a 4-5 unit multi-family that is approved for professional use as well as apartment use. Two 1-bedroom units, 2 Studio units and one 2-bedroom unit comprise the spaces available. Close distance to the park, sports complex, community center, schools, library and post office this classic building is set on a quarter acre lot and its features are a spacious backyard, recent upgrades including a new roof, new boiler, new fire rated sheet rock in the hall, upgraded fire rated doors, exterior vinyl siding with full insulation and much more. The owner of 39 years has put many upgrades into the buildilng and is now retiring. It's your turn to add this to

Key facts

• New boiler
• Recent upgrades
• Spacious backyard

Tags

• SPACIOUS BACKYARD
• RECENT UPGRADES
• NEW ROOF
• NEW BOILER
• UPGRADED FIRE RATED DOORS
• EXTERIOR VINYL SIDING

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; Circuit breaker electrical service; High-speed internet available
• Home design: Multi-level building; Existing structure
• Construction: Wood frame construction; Slate roof; Originally built in 1900
• Exterior features: Level lot; Paved driveway; Public road frontage

Interior

• Bedrooms: Five units total: four 1-bedroom units and one 2-bedroom unit
• Heating & cooling: Hot water heating; Oil heating; No central cooling
• Interior features: Full basement with interior access

What this means for you Summary

Snapshot

• This is a 4×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $555k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $437/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $555k).
• Cap rate 11.0% vs local median 3.3% in Claremont — 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 69/100 on livability (#50 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities F, commute F.
• Claremont School District (town): math 24% / reading 35% proficiency, ranked #85 of 98 in NH (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Claremont Middle School (math 23% / reading 38%, grade F, #68 of 96 statewide, top 72%, 354 students, 40% FRL); Stevens High School (math 32% / reading 42%, grade F, #69 of 90 statewide, top 78%, 525 students, 28% FRL).
• Market conditions: 59 active listings in the ZIP; 98 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).
• At $7,620/mo this rent would consume 153% of the median local household income ($60k/yr) (locally 642% 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 $5k of equity ($4k loan paydown + $1k appreciation (0.2% local appreciation)).
• Sullivan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $155k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $555,000

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 1900 — 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 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?
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: 1.37% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.87%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.9%
• Equity multiple: 1.83×
• Total profit: $128,280
• Equity at exit: $166,772

10-year hold

• IRR: 21.1%
• Equity multiple: 3.38×
• Total profit: $370,137
• Equity at exit: $205,007

Cash invested: $155,400 (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 03743

• Home prices YoY: 0.1%
• Active inventory: 59
• Price-to-rent: 30.8×

Monthly cashflow live

• Estimated rent: $7,620 high
• Mortgage (P&I): −$2,910
• Tax est. 1.5%: −$694 /mo · $8,325/yr
• Insurance: −$231
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,600
• Net cashflow: $2,184

Break-even live

Break-even rent $4,855

Max offer price $555,000

Occupancy floor 66%

Sensitivity live

Price	-10% $2,568	-5% $2,376	+0% $2,184	+5% $1,993	+10% $1,801
Rent	-10% $1,582	-5% $1,883	+0% $2,184	+5% $2,485	+10% $2,786
Rate	-1.0pp $2,464	-0.5pp $2,325	base $2,184	+0.5pp $2,041	+1.0pp $1,894

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$6,008
1× unit	2	1	$1,613
Total (5 units)			$7,620

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: $138,750
• Closing costs: $16,650
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $555,000 Active 10 DOM
2. 2026-06-19
   days on market $555,000 Active 8 DOM
3. 2026-06-18
   days on market $555,000 Active 7 DOM
4. 2026-06-17
   days on market $555,000 Active 6 DOM
5. 2026-06-16
   days on market $555,000 Active 5 DOM
6. 2026-06-15
   days on market $555,000 Active 4 DOM
7. 2026-06-14
   days on market $555,000 Active 2 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   listed $555,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $91,440
• − Mortgage interest: −$31,089
• − Property taxes: −$8,325
• − Insurance: −$2,775
• − Repairs & maintenance: −$7,315
• − Management: −$7,315
• − Depreciation: −$16,145
• Taxable income: $18,476
• Est. tax owed @ 24.0%: −$4,434
• After-tax cash flow: $21,778/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: Claremont School District
• NCES district ID: 3302340
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $43,285
• Composite: 25.11/100
• National rank: #7528
• State rank: #85 of 98 in NH

Livability — Claremont

• Score: 69/100
• State rank: #50
• US rank: #8815

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Claremont, NH
• County: Sullivan County · 16,826 people
• City population: 13,704
• Metro: Lebanon, NH-VT
• Population (ZIP): 13,704
• Household income: $59,625
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 642.0

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 41,322 people
• By 2030: 39,910 · -3.4%
• By 2040: 36,447 · -11.8%
• By 2050: 32,917 · -20.3%
• By 2075: 25,997 · -37.1%
• By 2100: 19,479 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 5% Black 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 18% Slovak 4% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Sullivan

• 2024 margin: Toss-up / Even · D 49.1% · R 49.8% · Other 1.2%
• 2008→2024 swing: -18.7pp toward R · 2008: 18.0pp · 2024: -0.7pp
• All cycles: 2024: R+0.7 2020: D+3.6 2016: R+2.6 2012: D+13.3 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.20%
• Current HPI: 337.0004
• Rent YoY: —
• Metro: Lebanon, NH-VT
• State GDP YoY: —
• F500 in state: 0

Price history

+46933.9% since first listed

3 events — show timeline

• 2026-06-11 Listed $555,000 PrimeMLS
• 2025-08-25 Rental Removed $1,180 NEREN
• 2025-07-17 Listed for Rent $1,180 NEREN