266 Douglas St · Manchester, NH 03102

$559,000

6 bd · 3.0 ba · 2,524 sqft · MultiFamily public records · 37 Days on market

Built 1888 4,791 sqft lot $221/sqft · 6% above area Est $529k · 6% over

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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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.8/10.0
• ARV discount +5.0/15.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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

Nice Large 3 family on the west side. First floor has been remodeled and has 4 bedroom. Second floor front unit has been remodeled and has 1 bedroom. Second floor rear 2 bedroom unit has long term tenant. Many updates throughout and plenty of off street parking. Fully occupied and 24 hours notice to show. Agent Interest

Key facts

• Upside potential
• Renovated unit
• 4,791 sq ft lot

Tags

• CURRENT RENTAL INCOME
• UPSIDE POTENTIAL
• OWNER OCCUPANT POSSIBILITIES
• RENOVATED UNIT
• NEWER RINNAI WALL HEATERS
• NEWER HOT WATER HEATERS

Property features AI

Finance

• Other: Road frontage on a public maintained road
• Financial info: Three rental units with annual lease terms; Unit mix: one 3+ bedroom equivalent unit (listed as 4-bed) and two 1-bedroom units

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; 100 amp electric service; High-speed internet available; Other utilities listed
• Home design: Multi-family property; Existing building; Green exterior color
• Construction: Built in 1888; Wood frame construction; Slate roof; Unfinished basement (concrete floor)
• Exterior features: Paved driveway; Located in town

Interior

• Bedrooms: One unit with 4 bedrooms; Two units with 1 bedroom each
• Flooring: Carpet; Wood; Vinyl plank
• Bathrooms: Three units each with 1 bathroom
• Heating & cooling: Natural gas heating; No central air
• Interior features: Finished interior area included in total finished square footage; Basement with interior access; Basement has concrete floor and is unfinished

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $559k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $351/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $559k).
• Recommended offer: $542k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.1% in Manchester — 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 83/100 on livability (#10 in NH, #879 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Manchester School District (urban): math 14% / reading 27% proficiency, ranked #96 of 98 in NH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.0%/yr); 71 active listings in the ZIP; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).
• At $6,018/mo this rent would consume 97% of the median local household income ($74k/yr) (locally 1368% 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 $17k of value loss. Plan a longer hold.
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($542k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $40k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $415k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $542,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.08% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.07%
• DSCR: 1.36
• GRM: 7.7

CMA / ARV

• ARV (median comp): $529,208
• List price: $559,000
• Delta: 9.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 4Th St	0.29mi	6/3.0	2,591 (+3%)	9mo	$593,500	$229	75
25 Parker St	0.17mi	6/3.0	2,496 (-1%)	21mo	$540,000	$216	73
551 Granite St	0.07mi	6/2.0	2,320 (-8%)	19mo	$560,000	$241	64
162 Blaine St	0.33mi	7/3.0 (+1)	2,772 (+10%)	6mo	$605,000	$218	58
296 Bartlett St	0.44mi	6/3.0	2,736 (+8%)	11mo	$599,000	$219	56
145 Parker St	0.13mi	5/2.0 (-1)	2,224 (-12%)	13mo	$497,200	$224	54
241 Bartlett St	0.37mi	7/3.0 (+1)	2,327 (-8%)	13mo	$585,000	$251	54
29 Colby St	0.47mi	5/3.0 (-1)	2,486 (-2%)	22mo	$620,000	$249	52
8 Lamprey St	0.68mi	6/2.0	2,598 (+3%)	14mo	$500,000	$192	48
570 Montgomery St	0.74mi	6/2.0	2,352 (-7%)	5mo	$609,000	$259	46

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 · 2.96% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-23,808
• Equity at exit: $83,349

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $64,547
• Equity at exit: $48,332

Cash invested: $156,520 (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 03102

• Home prices YoY: -16.2%
• Rents YoY: 3.0%
• Active inventory: 71
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $6,018 high
• Mortgage (P&I): −$2,931
• Tax from tax record: −$538 /mo · $6,450/yr
• Insurance: −$233
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,264
• Net cashflow: $1,052

Break-even live

Break-even rent $4,686

Max offer price $559,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,018
Total (3 units)			$6,018

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: $139,750
• Closing costs: $16,770
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $559,000 Active 37 DOM
2. 2026-06-17
   price $559,000 Active 36 DOM
3. 2026-06-17
   days on market $579,000 Active 36 DOM
4. 2026-06-16
   days on market $579,000 Active 35 DOM
5. 2026-06-15
   days on market $579,000 Active 34 DOM
6. 2026-06-14
   days on market $579,000 Active 32 DOM
7. 2026-06-13
   days on market $579,000 Active 31 DOM
8. 2026-06-10
   days on market $579,000 Active 29 DOM
9. 2026-06-09
   days on market $579,000 Active 28 DOM
10. 2026-06-08
    days on market $579,000 Active 27 DOM
11. 2026-06-07
    statusdays on market $579,000 Active 26 DOM
12. 2026-05-31
    status $579,000 Pending 24 DOM
13. 2026-05-30
    days on market $579,000 Active 24 DOM
14. 2026-05-06
    listed $599,000 Active 809-char remark
15. 2024-02-16
    soldstatus $415,000 Closed 321-char remark

    Show marketing remark (321 chars)

    Nice Large 3 family on the west side. First floor has been remodeled and has 4 bedroom. Second floor front unit has been remodeled and has 1 bedroom. Second floor rear 2 bedroom unit has long term tenant. Many updates throughout and plenty of off street parking. Fully occupied and 24 hours notice to show. Agent Interest

16. 2023-12-29
    status Pending 321-char remark

    Show marketing remark (321 chars)

    Nice Large 3 family on the west side. First floor has been remodeled and has 4 bedroom. Second floor front unit has been remodeled and has 1 bedroom. Second floor rear 2 bedroom unit has long term tenant. Many updates throughout and plenty of off street parking. Fully occupied and 24 hours notice to show. Agent Interest

17. 2023-12-21
    listed $499,900 Active 321-char remark

    Show marketing remark (321 chars)

    Nice Large 3 family on the west side. First floor has been remodeled and has 4 bedroom. Second floor front unit has been remodeled and has 1 bedroom. Second floor rear 2 bedroom unit has long term tenant. Many updates throughout and plenty of off street parking. Fully occupied and 24 hours notice to show. Agent Interest

18. 2019-04-15
    soldstatus $176,000 Closed

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

19. 2019-03-22
    historical Active with Contract

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

20. 2019-03-14
    status Active

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

21. 2019-03-14
    historical

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

22. 2019-02-12
    price $199,900

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

23. 2019-01-31
    status Active

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

24. 2019-01-08
    historical

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

25. 2018-11-21
    price $219,000

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

26. 2018-10-11
    price $229,900

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

27. 2018-09-22
    listed $239,900 Active

    Show marketing remark (250 chars)

    Investors take notice! Spacious 3 unit ready for tenants now! One unit currently rented month to month. Many upgrades throughout the years including newer windows, heating system, and water heater. Plenty of off street parking. Seller says. .. sell!

ⓘ 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: $6,450 · $538/mo
• Projected year-2 tax: $9,318 · $777/mo
• Expected delta: +$2,868/yr (+$239/mo · 44.5%)

ⓘ 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 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,216
• − Mortgage interest: −$31,313
• − Property taxes: −$6,450
• − Insurance: −$2,795
• − Repairs & maintenance: −$5,777
• − Management: −$5,777
• − Depreciation: −$16,262
• Taxable income: $3,842
• Est. tax owed @ 24.0%: −$922
• After-tax cash flow: $11,706/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: Manchester School District
• NCES district ID: 3304590
• Math proficiency: 14% ▼ -10.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $54,096
• Composite: 18.67/100
• National rank: #8886
• State rank: #96 of 98 in NH

Livability — Manchester

• Score: 83/100
• State rank: #10
• US rank: #879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, NH
• County: Hillsborough County · 309,362 people
• City population: 110,172
• Metro: Manchester-Nashua, NH
• Population (ZIP): 33,959
• Household income: $74,327
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1368.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 412,771 people
• By 2030: 410,974 · -0.4%
• By 2040: 399,959 · -3.1%
• By 2050: 381,542 · -7.6%
• By 2075: 339,855 · -17.7%
• By 2100: 289,270 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Two or more races 8% Black 6% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 11% Romanian 3% Slovak 3%
• Foreign-born: 14% · Canada, China, India
• Languages at home: 81% English-only · Spanish 5% French/Haitian/Cajun 5% Other Indo-European 3%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 50.9% · R 48.0% · Other 1.0%
• 2008→2024 swing: -0.9pp no change · 2008: 3.8pp · 2024: 2.9pp
• All cycles: 2024: D+2.9 2020: D+7.7 2016: R+0.2 2012: D+1.7 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.62%
• Current HPI: 355.9606
• Rent YoY: ▲ 2.96%
• Metro: Manchester-Nashua, NH
• State GDP YoY: —
• F500 in state: 0

Price history

+133.0% since first listed

18 events — show timeline

• 2026-06-18 Price Changed $559,000 PrimeMLS
• 2026-06-05 Relisted — PrimeMLS
• 2026-05-31 Pending — PrimeMLS
• 2026-05-19 Price Changed $579,000 PrimeMLS
• 2026-05-06 Listed $599,000 PrimeMLS
• 2024-02-16 Sold (MLS) $415,000 PrimeMLS
• 2023-12-29 Pending — PrimeMLS
• 2023-12-21 Listed $499,900 PrimeMLS
• 2019-04-15 Sold (MLS) $176,000 PrimeMLS
• 2019-03-22 Contingent — PrimeMLS
• 2019-03-14 Relisted — PrimeMLS
• 2019-03-14 Delisted — PrimeMLS
• 2019-02-12 Price Changed $199,900 PrimeMLS
• 2019-01-31 Relisted — PrimeMLS
• 2019-01-08 Delisted — PrimeMLS
• 2018-11-21 Price Changed $219,000 PrimeMLS
• 2018-10-11 Price Changed $229,900 PrimeMLS
• 2018-09-22 Listed $239,900 PrimeMLS

Property tax history

+2.9%/yr

Latest (2024): $6,450 · +3.8% YoY. Source: county tax records.