10 Birch St · Derry, NH 03038

$460,000

4 bd · 3.0 ba · 1,671 sqft · MultiFamily public records · 1 Days on market

Built 1915 4,356 sqft lot Est $403k · 14% 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 +14.0/30.0
• DSCR +4.3/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0
• 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 MLS

GREAT INVESTMENT opportunity in Derry's Central Business District, close to downtown and Parkland Hospital. Updates include roof in 2009, Unit 2 kitchen in 2008, new front porch 2012, both bathrooms updaated in 2013, hot water tank in 2012. Unit 1 has 3 bedrooms and Unit 2 has 2 levels with loft bedroom. Long time renters looking to stay. Walk to restaurants, library, shopping, library. Close to highways. Don't miss this great investment!

Key facts

• 0.10 acre lot
• Large open layout
• Loft-style bedroom

Tags

• 0.10 ACRE LOT
• BONUS ROOM
• LARGE OPEN LAYOUT
• LOFT-STYLE BEDROOM
• SMALL YARD
• CAPITAL IMPROVEMENTS

Property features AI

Finance

• Financial info: Total of 2 rental units with month-to-month leases; Unit mix: one 3-bedroom unit and one 1-bedroom unit

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; Circuit breaker electrical service; High-speed internet available; Other utilities available
• Home design: Duplex / multi-family building; Existing structure; White exterior
• Construction: Built in 1915; Wood frame construction; Asphalt shingle roof; Concrete foundation
• Exterior features: Landscaped lot; In-town location near shopping; Paved driveway; Public road frontage

Interior

• Bedrooms: One unit with 3 bedrooms (Unit 1); One unit with 1 bedroom (Unit 2)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Heating by propane and oil with forced air; No central cooling
• Interior features: Basement with interior access; Basement is unfinished with concrete, crawl space, and storage areas

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $62 ($742/yr) — positive. Per door: $31/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $412k (10.5% below list).
• Recommended offer: $412k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.2% 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; 120 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• At $4,119/mo this rent would consume 46% 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 28y 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 $171k; list at $460k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $411,900 (10.5% 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 1915 — 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. 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: 0.90% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $402,711
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Clark	0.67mi	3/3.0 (-1)	1,660 (-1%)	17mo	$400,000	$241	49

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: -17.8%
• Equity multiple: 0.39×
• Total profit: $-79,098
• Equity at exit: $68,587

10-year hold

• IRR: -14.6%
• Equity multiple: 0.25×
• Total profit: $-97,211
• Equity at exit: $39,772

Cash invested: $128,800 (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: 120
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $4,119 high
• Mortgage (P&I): −$2,412
• Tax from tax record: −$588 /mo · $7,059/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$865
• Net cashflow: $62

Break-even live

Break-even rent $4,041

Max offer price $460,000

Occupancy floor 94%

Sensitivity live

Price	-10% $322	-5% $192	+0% $62	+5% $-68	+10% $-199
Rent	-10% $-264	-5% $-101	+0% $62	+5% $225	+10% $387
Rate	-1.0pp $293	-0.5pp $179	base $62	+0.5pp $-57	+1.0pp $-179

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,118
Total (2 units)			$4,119

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7 Howard St Derry, NH	3.0	2.0	1889	$3,500	$1.85	26d	1	0.41mi
39 S Main St Derry, NH	3.0	1.0	2000	$2,695	$1.35	0d	1	0.86mi
41 Governor Bell Dr Londonderry, NH	1.0–3.0	1.0–2.0	1144	$4,482	$3.92	0d	12	1.40mi
30 Main St Londonderry, NH	1.0–3.0	1.0–2.0	1175	$3,700	$3.15	0d	10	1.41mi

Listing history 2 events

1. 2026-06-21
   remarks 693-char remark
2. 2026-06-21
   listed $460,000 Active 1 DOM

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

Tax reassessment forecast NH · Partial reset (capped growth)

• Current annual tax: $7,059 · $588/mo
• Projected year-2 tax: $8,544 · $712/mo
• Expected delta: +$1,484/yr (+$124/mo · 21.0%)

ⓘ 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 8 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $49,428
• − Mortgage interest: −$25,767
• − Property taxes: −$7,059
• − Insurance: −$2,300
• − Repairs & maintenance: −$3,954
• − Management: −$3,954
• − Depreciation: −$13,382
• Taxable loss: −$6,988
• Est. tax savings @ 24.0%: +$1,677
• After-tax cash flow: $2,419/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

+411.7% since first listed

26 events — show timeline

• 2026-06-20 Listed $460,000 PrimeMLS
• 2016-03-30 Sold (MLS) $170,900 MLS PIN
• 2016-03-29 Sold (Public Records) $170,933 Public Records
• 2016-03-28 Sold (MLS) $170,900 PrimeMLS
• 2016-02-10 Pending — MLS PIN
• 2016-02-05 Contingent — PrimeMLS
• 2016-01-26 Price Changed $175,900 PrimeMLS
• 2015-11-17 Price Changed $189,900 PrimeMLS
• 2015-11-17 Price Changed $189,900 MLS PIN
• 2015-10-26 Listed $199,900 MLS PIN
• 2015-10-25 Listed $199,900 PrimeMLS
• 2004-06-04 Sold (MLS) $198,000 MLS PIN
• 2004-04-09 Listing Removed — MLS PIN
• 2004-03-25 Listed $209,900 MLS PIN
• 2001-10-25 Sold (MLS) $130,000 PrimeMLS
• 2001-09-07 Delisted — PrimeMLS
• 2001-02-14 Listed $134,900 PrimeMLS
• 1999-12-30 Sold (MLS) $114,500 PrimeMLS
• 1999-12-30 Sold (MLS) $114,500 PrimeMLS
• 1999-12-22 Delisted — PrimeMLS
• 1999-12-22 Delisted — PrimeMLS
• 1999-06-25 Listed $119,500 PrimeMLS
• 1998-09-24 Listed $119,500 PrimeMLS
• 1998-08-11 Sold (MLS) $81,000 PrimeMLS
• 1998-06-18 Delisted — PrimeMLS
• 1998-05-01 Listed $89,900 PrimeMLS

Property tax history

+6.7%/yr

Latest (2025): $7,059 · +1.6% YoY. Source: county tax records.