202 Alton Shores Rd · Alton, NH 03810

$350,000

2 bd · 1.0 ba · 737 sqft · SingleFamily public records · 15 Days on market

Built 1969 0.26 ac lot Est $248k · 41% over $46/mo HOA · 2% of rent

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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 +15.1/30.0
• Appreciation +10.0/10.0
• DSCR +4.6/10.0
• Schools +3.7/10.0
• 1% rule +3.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

OPEN HOUSE!! Saturday July 15 10-12 and Sunday July 16 11-1. Looking for a very private little get away? Check out this adorable 2 bedroom, 1 bath year round home with private beach access to Hills Pond and Sunset Lake right around the corner. There are a total of 5 beaches and a boat ramp too! Plenty of parking, 2 outbuildings, large front deck and a screened in porch. Walking through the door you will see a wood stove, and an open concept living/dining area, kitchen, 2 bedrooms and a full bath. An abundance of renovations, updates and insulating have been done. LOW annual fee $275 covers recreational and roads. DELAYED SHOWINGS UNTIL the open house.

Key facts

• 0.26 acre lot
• Built 1969
• Listed 15 days

Property features AI

Finance

• Other: Road frontage is paved
• HOA & community: Alton Shores Association; Annual association fee of 550 covers recreation; Association amenities include beach access/rights and boat launch

Exterior

• Parking: Paved driveway
• Utilities: Drilled well (private); Private sewer; Circuit breaker electrical service; High-speed internet available; Cable available (Breezeline); Telephone service available; Fuel service: EASTERN
• Home design: Cottage/Camp style; Existing construction; Gray exterior
• Construction: Built in 1969; Wood frame with wood siding; Asphalt shingle roof; Unknown survey status
• Exterior features: Lake access and lake view; Shared waterfront rights on Sunset Lake; Beach access (shared-private, cross a street to access); Wooded, rural setting

Interior

• Kitchen: Eat-in kitchen; Refrigerator; Electric stove
• Bedrooms: 2 bedrooms on main level
• Flooring: Vinyl plank
• Bathrooms: One 3/4 bathroom on main level
• Heating & cooling: Propane heat; Wood stove; Wall AC units
• Interior features: Crawl space basement with interior access; 4 total rooms; Vinyl plank flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $293k (16.2% below list).
• Recommended offer: $293k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 1.4% in Alton — 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 57/100 on livability (#93 in NH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Alton School District (rural): math 34% / reading 42% proficiency, ranked #139 of 171 in NH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alton Central School (Elem) (math 32% / reading 42%, grade F, #171 of 263 statewide, top 66%, 417 students, 17% FRL) — zoned schools at 17% FRL track the district average.
• Market conditions: 35 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $299k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $293,202 (16.2% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.84% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $248,369
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 Stephanie Dr	0.07mi	2/1.0	728 (-1%)	18mo	$245,000	$337	80

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: 25.3%
• Equity multiple: 3.02×
• Total profit: $198,056
• Equity at exit: $315,308

10-year hold

• IRR: 22.3%
• Equity multiple: 6.89×
• Total profit: $577,140
• Equity at exit: $679,973

Cash invested: $98,000 (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 03810

• Home prices YoY: 33.9%
• Active inventory: 35
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,932 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$171 /mo · $2,050/yr
• Insurance: −$146
• HOA: −$46
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $118

Break-even live

Break-even rent $2,782

Max offer price $350,000

Occupancy floor 91%

Sensitivity live

Price	-10% $316	-5% $217	+0% $118	+5% $19	+10% $-80
Rent	-10% $-113	-5% $2	+0% $118	+5% $234	+10% $350
Rate	-1.0pp $294	-0.5pp $207	base $118	+0.5pp $27	+1.0pp $-65

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $46 · $552/yr

Listing history 14 events

1. 2026-05-17
   status Pending
2. 2026-05-11
   status Active
3. 2026-05-05
   historical Active with Contract
4. 2026-05-02
   listed $350,000 Active
5. 2026-04-27
   historical $350,000
6. 2025-07-22
   price $350,000
7. 2023-08-22
   soldstatus $299,000 Closed 659-char remark

   Show marketing remark (659 chars)

   OPEN HOUSE!! Saturday July 15 10-12 and Sunday July 16 11-1. Looking for a very private little get away? Check out this adorable 2 bedroom, 1 bath year round home with private beach access to Hills Pond and Sunset Lake right around the corner. There are a total of 5 beaches and a boat ramp too! Plenty of parking, 2 outbuildings, large front deck and a screened in porch. Walking through the door you will see a wood stove, and an open concept living/dining area, kitchen, 2 bedrooms and a full bath. An abundance of renovations, updates and insulating have been done. LOW annual fee $275 covers recreational and roads. DELAYED SHOWINGS UNTIL the open house.

8. 2023-08-22
   soldstatus $299,000

   Show marketing remark (659 chars)

   OPEN HOUSE!! Saturday July 15 10-12 and Sunday July 16 11-1. Looking for a very private little get away? Check out this adorable 2 bedroom, 1 bath year round home with private beach access to Hills Pond and Sunset Lake right around the corner. There are a total of 5 beaches and a boat ramp too! Plenty of parking, 2 outbuildings, large front deck and a screened in porch. Walking through the door you will see a wood stove, and an open concept living/dining area, kitchen, 2 bedrooms and a full bath. An abundance of renovations, updates and insulating have been done. LOW annual fee $275 covers recreational and roads. DELAYED SHOWINGS UNTIL the open house.

9. 2023-07-29
   historical Active with Contract 659-char remark

   Show marketing remark (659 chars)

   OPEN HOUSE!! Saturday July 15 10-12 and Sunday July 16 11-1. Looking for a very private little get away? Check out this adorable 2 bedroom, 1 bath year round home with private beach access to Hills Pond and Sunset Lake right around the corner. There are a total of 5 beaches and a boat ramp too! Plenty of parking, 2 outbuildings, large front deck and a screened in porch. Walking through the door you will see a wood stove, and an open concept living/dining area, kitchen, 2 bedrooms and a full bath. An abundance of renovations, updates and insulating have been done. LOW annual fee $275 covers recreational and roads. DELAYED SHOWINGS UNTIL the open house.

10. 2023-07-12
    listed $299,000 Active - Delayed Showings 659-char remark

    Show marketing remark (659 chars)

    OPEN HOUSE!! Saturday July 15 10-12 and Sunday July 16 11-1. Looking for a very private little get away? Check out this adorable 2 bedroom, 1 bath year round home with private beach access to Hills Pond and Sunset Lake right around the corner. There are a total of 5 beaches and a boat ramp too! Plenty of parking, 2 outbuildings, large front deck and a screened in porch. Walking through the door you will see a wood stove, and an open concept living/dining area, kitchen, 2 bedrooms and a full bath. An abundance of renovations, updates and insulating have been done. LOW annual fee $275 covers recreational and roads. DELAYED SHOWINGS UNTIL the open house.

11. 2013-06-18
    soldstatus $92,000
12. 2013-06-10
    soldstatus $92,000
13. 2012-03-16
    listed $105,000
14. 2009-08-14
    soldstatus $61,733

ⓘ 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: $2,050 · $171/mo
• Projected year-2 tax: $4,840 · $403/mo
• Expected delta: +$2,790/yr (+$232/mo · 136.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,184
• − Mortgage interest: −$19,605
• − Property taxes: −$2,050
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,815
• − Management: −$2,815
• − HOA: −$552
• − Depreciation: −$10,182
• Taxable loss: −$4,584
• Est. tax savings @ 24.0%: +$1,100
• After-tax cash flow: $2,519/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: Alton School District
• NCES district ID: 3301440
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $66,442
• Composite: 36.9/100
• National rank: #9132
• State rank: #139 of 171 in NH

Livability — Alton

• Score: 57/100
• State rank: #93
• US rank: #21895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,269

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Serbian 9% Romanian 9% Lithuanian 6%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Belknap

• 2024 margin: R (+13.1) · D 43.1% · R 56.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 1.2pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.4 2016: R+16.8 2012: R+5.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 112.98%
• Current HPI: 446.0509
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+467.0% since first listed

14 events — show timeline

• 2026-05-17 Pending — PrimeMLS
• 2026-05-11 Relisted — PrimeMLS
• 2026-05-05 Contingent — PrimeMLS
• 2026-05-02 Listed $350,000 PrimeMLS
• 2026-04-27 Coming Soon $350,000 PrimeMLS
• 2025-07-22 Price Changed $350,000 PrimeMLS
• 2023-08-22 Sold (Public Records) $299,000 Public Records
• 2023-08-22 Sold (MLS) $299,000 PrimeMLS
• 2023-07-29 Contingent — PrimeMLS
• 2023-07-12 Listed $299,000 PrimeMLS
• 2013-06-18 Sold (Public Records) $92,000 Public Records
• 2013-06-10 Sold (MLS) $92,000 PrimeMLS
• 2012-03-16 Listed $105,000 PrimeMLS
• 2009-08-14 Sold (Public Records) $61,733 Public Records

Property tax history

+5.1%/yr

Latest (2024): $2,050 · -1.5% YoY. Source: county tax records.