23-25 Beech St · Newport, NH 03773

$415,000

8 bd · 2.0 ba · 3,346 sqft · MultiFamily · 16 Days on market

Built 1910 Good condition 9,147 sqft lot Est $315k · 32% over

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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).

• Cash flow +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Exceptional investment or owner-occupant opportunity in this spacious duplex offering over 3,300 square feet of living space on a . 21-acre lot with ample off-street parking. Each unit features an identical floor plan with 4 bedrooms and 1 full bathroom, providing strong rental potential and flexible living arrangements. The photographs shown are of the vacant unit; the second unit is tenant-occupied on a month-to-month lease and offers the same layout and configuration. Ideally situated just minutes from Newport's charming historic downtown, covered bridges, local shops, restaurants, and everyday conveniences, this property offers both convenience and lifestyle. Outdoor enthusiasts will ap

Key facts

• 9,147 sq ft lot
• Built 1910
• Listed 15 days

Tags

• INVESTMENT OPPORTUNITY
• OWNER OCCUPANT OPPORTUNITY
• AMPLE OFF STREET PARKING
• STRONG RENTAL POTENTIAL
• FLEXIBLE LIVING ARRANGEMENTS
• EASY ACCESS TO HIKING TRAILS

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable internet available
• Home design: Duplex (two-unit townhouse-style building); Existing structure; Tan exterior color
• Construction: Built in 1910; Wood frame with vinyl siding; Asphalt shingle roof; Surveyed
• Exterior features: Paved driveway; Curbing; Level lot

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Unit 1: 4 bedrooms; Unit 2: 4 bedrooms
• Bathrooms: Unit 1: 1 full bath; Unit 2: 1 full bath; Total full baths on property: 2
• Heating & cooling: Oil heating; Steam heating; No central cooling
• Interior features: Full unfinished basement with interior access, storage space, and basement stairs

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $415k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $690 ($8k/yr) — positive. Per door: $345/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $415k).
• Recommended offer: $409k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.4% in Newport — 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 76/100 on livability (#26 in NH, #3,805 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Newport School District (town): math 10% / reading 21% proficiency, ranked #98 of 98 in NH (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Richards Elementary School (math 12% / reading 12%, grade F, #257 of 263 statewide, top 98%, 323 students, 64% FRL) — zoned schools average 64% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 70 active listings in the ZIP; 98 units permitted in Sullivan County in 2024 (0 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 $12k of value loss. Plan a longer hold.
• Sullivan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($409k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $408,775 (1.5% below list)

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 1910 — 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. 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?
7. 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.
8. 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.
9. 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: 1.09% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $314,524
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29-31 Myrtle St	0.42mi	7/2.0 (-1)	3,420 (+2%)	7mo	$320,000	$94	66

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-23,221
• Equity at exit: $61,878

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $36,659
• Equity at exit: $35,882

Cash invested: $116,200 (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 03773

• Home prices YoY: -6.0%
• Active inventory: 70
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $4,504 medium
• Mortgage (P&I): −$2,176
• Tax est. 1.5%: −$519 /mo · $6,225/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$946
• Net cashflow: $690

Break-even live

Break-even rent $3,630

Max offer price $415,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$4,504
Total (2 units)			$4,504

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $415,000 Active 16 DOM
2. 2026-06-18
   days on market $415,000 Active 15 DOM
3. 2026-06-17
   days on market $415,000 Active 14 DOM
4. 2026-06-16
   days on market $415,000 Active 13 DOM
5. 2026-06-15
   days on market $415,000 Active 12 DOM
6. 2026-06-14
   days on market $415,000 Active 10 DOM
7. 2026-06-12
   days on market $415,000 Active 9 DOM
8. 2026-06-09
   days on market $415,000 Active 6 DOM
9. 2026-06-08
   days on market $415,000 Active 5 DOM
10. 2026-06-07
    days on market $415,000 Active 4 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $415,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 18 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: $54,048
• − Mortgage interest: −$23,246
• − Property taxes: −$6,225
• − Insurance: −$2,075
• − Repairs & maintenance: −$4,324
• − Management: −$4,324
• − Depreciation: −$12,073
• Taxable income: $1,781
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $7,855/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated two-unit property offers a good investment opportunity with minimal repairs needed. The exterior and interior are in good condition, and updates to the exterior and flooring would significantly enhance its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Clean windows — Improves natural light and aesthetics
• Both Update flooring — Modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean windows — Improves natural light and aesthetics ↑
• Both Update flooring — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Newport School District
• NCES district ID: 3305310
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 21% ▼ -13.00%
• Median HH income: $49,710
• Composite: 14.12/100
• National rank: #9459
• State rank: #98 of 98 in NH

Livability — Newport

• Score: 76/100
• State rank: #26
• US rank: #3805

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport, NH
• City population: 7,905
• Population (ZIP): 7,905

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Black 1%
• Common ancestry: Lithuanian 14% Slovak 4% Romanian 3%
• Foreign-born: 1%

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: ▼ -22.59%
• Current HPI: 352.2789
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-03 Listed $415,000 PrimeMLS