25 School St · Bristol, NH 03222

$1,700,000

12 bd · 8.0 ba · 9,443 sqft · MultiFamily public records · 68 Days on market

Built 1930 0.44 ac lot

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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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 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 MLS

Rare investment opportunity featuring a 9-unit multifamily property in a highly desirable walk-to-town location. The building offers a strong unit mix of six 1-bedroom units and three 2-bedroom units, with off-street parking and on-site laundry in the basement for tenant convenience. Several long-term tenants provide stability and consistent rental history, some 15 -20 years. Ideally situated within walking distance to local schools and downtown amenities including shopping and restaurants, and just minutes from outdoor recreation at 2 town beaches and at Wellington State Park on Newfound Lake. Enjoy year-round appeal with close proximity to Ragged Mountain Resort. A prime opportunity for investors seeking location, convenience, and steady income potential.

Key facts

• On site laundry
• Off street parking
• Multifamily property

Tags

• INVESTMENT OPPORTUNITY
• MULTIFAMILY PROPERTY
• WALK TO TOWN LOCATION
• OFF STREET PARKING
• ON SITE LAUNDRY
• WALKING DISTANCE TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 6×1bd/1ba + 3×2bd/1ba units multifamily listed at $1.70M.

Deal economics

• At list price, monthly cash flow is $5k ($64k/yr) — positive. Per door: $594/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.70M).
• Recommended offer: $1.60M (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.2% in Bristol — 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 66/100 on livability (#70 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: schools C-, health & safety C-, amenities F.
• Newfound Area School District (rural): math 35% / reading 48% proficiency, ranked #61 of 98 in NH (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $51k of value loss. Plan a longer hold.
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $476k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($1.60M) is reasonable based on typical stale-listing flexibility.
• 4 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 $363k; list at $1.70M implies a 369% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,598,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.17% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $64,532
• Equity at exit: $253,476

10-year hold

• IRR: 13.0%
• Equity multiple: 2.03×
• Total profit: $492,539
• Equity at exit: $146,985

Cash invested: $476,000 (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 03222

• Home prices YoY: -2.6%
• Active inventory: 59
• Price-to-rent: 64.0×

Monthly cashflow live

• Estimated rent: $19,933 medium
• Mortgage (P&I): −$8,915
• Tax from tax record: −$777 /mo · $9,325/yr
• Insurance: −$708
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,186
• Net cashflow: $5,347

Break-even live

Break-even rent $13,165

Max offer price $1,700,000

Occupancy floor 68%

Sensitivity live

Price	-10% $6,309	-5% $5,828	+0% $5,347	+5% $4,866	+10% $4,384
Rent	-10% $3,772	-5% $4,559	+0% $5,347	+5% $6,134	+10% $6,921
Rate	-1.0pp $6,203	-0.5pp $5,779	base $5,347	+0.5pp $4,906	+1.0pp $4,458

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$13,290
▸ 3× units	2	1	$6,645
Total (9 units)			$19,933

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: $425,000
• Closing costs: $51,000
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $1,700,000 Active 68 DOM
2. 2026-06-18
   days on market $1,700,000 Active 66 DOM
3. 2026-06-17
   days on market $1,700,000 Active 65 DOM
4. 2026-06-16
   days on market $1,700,000 Active 64 DOM
5. 2026-06-15
   days on market $1,700,000 Active 63 DOM
6. 2026-06-13
   days on market $1,700,000 Active 61 DOM
7. 2026-06-12
   days on market $1,700,000 Active 60 DOM
8. 2026-06-09
   days on market $1,700,000 Active 57 DOM
9. 2026-06-08
   days on market $1,700,000 Active 56 DOM
10. 2026-06-07
    days on market $1,700,000 Active 55 DOM
11. 2026-06-07
    days on market $1,700,000 Active 54 DOM
12. 2026-06-04
    days on market $1,700,000 Active 51 DOM
13. 2026-06-02
    days on market $1,700,000 Active 50 DOM
14. 2026-06-01
    days on market $1,700,000 Active 49 DOM
15. 2026-05-31
    days on market $1,700,000 Active 48 DOM
16. 2026-04-13
    listed $1,700,000 Active 767-char remark

    Show marketing remark (767 chars)

    Rare investment opportunity featuring a 9-unit multifamily property in a highly desirable walk-to-town location. The building offers a strong unit mix of six 1-bedroom units and three 2-bedroom units, with off-street parking and on-site laundry in the basement for tenant convenience. Several long-term tenants provide stability and consistent rental history, some 15 -20 years. Ideally situated within walking distance to local schools and downtown amenities including shopping and restaurants, and just minutes from outdoor recreation at 2 town beaches and at Wellington State Park on Newfound Lake. Enjoy year-round appeal with close proximity to Ragged Mountain Resort. A prime opportunity for investors seeking location, convenience, and steady income potential.

17. 2023-06-06
    soldstatus $362,533
18. 2004-09-20
    soldstatus $490,000
19. 2004-09-13
    soldstatus $490,000 129-char remark

    Show marketing remark (129 chars)

    11-UNIT MULTI FAMILY, VERY PROFITABLE, HIGH GROSS, NEWER ROOF, LOW MAINTENANCE VINYL SIDING, ALWAYS FULL . .. 24-HRS A MUST. .. .

20. 2004-07-12
    historical 129-char remark

    Show marketing remark (129 chars)

    11-UNIT MULTI FAMILY, VERY PROFITABLE, HIGH GROSS, NEWER ROOF, LOW MAINTENANCE VINYL SIDING, ALWAYS FULL . .. 24-HRS A MUST. .. .

21. 2004-04-14
    listed $599,000 129-char remark

    Show marketing remark (129 chars)

    11-UNIT MULTI FAMILY, VERY PROFITABLE, HIGH GROSS, NEWER ROOF, LOW MAINTENANCE VINYL SIDING, ALWAYS FULL . .. 24-HRS A MUST. .. .

22. 2001-10-12
    soldstatus $229,900
23. 2001-09-15
    historical
24. 2001-05-30
    listed $229,900
25. 1998-07-22
    soldstatus $62,000
26. 1998-04-15
    historical
27. 1998-03-17
    listed $69,500

ⓘ 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: $9,325 · $777/mo
• Projected year-2 tax: $23,192 · $1,933/mo
• Expected delta: +$13,868/yr (+$1,156/mo · 148.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $239,196
• − Mortgage interest: −$95,226
• − Property taxes: −$9,325
• − Insurance: −$8,500
• − Repairs & maintenance: −$19,136
• − Management: −$19,136
• − Depreciation: −$49,455
• Taxable income: $38,419
• Est. tax owed @ 24.0%: −$9,220
• After-tax cash flow: $54,940/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: Newfound Area School District
• NCES district ID: 3305220
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $53,994
• Composite: 36.07/100
• National rank: #4766
• State rank: #61 of 98 in NH

Livability — Bristol

• Score: 66/100
• State rank: #70
• US rank: #12048

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bristol, NH
• Population (ZIP): 6,135

Population outlook (Grafton County) Hauer SSP2

• Today (2025): 88,798 people
• By 2030: 87,131 · -1.9%
• By 2040: 82,000 · -7.7%
• By 2050: 77,064 · -13.2%
• By 2075: 68,769 · -22.6%
• By 2100: 61,631 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 12% Slovak 4% Serbian 4%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 2% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Grafton

• 2024 margin: D (+19.9) · D 59.4% · R 39.4% · Other 1.2%
• 2008→2024 swing: -7.8pp toward R · 2008: 27.7pp · 2024: 19.9pp
• All cycles: 2024: D+19.9 2020: D+24.6 2016: D+19.0 2012: D+23.8 2008: D+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.83%
• Current HPI: 410.261
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+2346.0% since first listed

12 events — show timeline

• 2026-04-13 Listed $1,700,000 PrimeMLS
• 2023-06-06 Sold (Public Records) $362,533 Public Records
• 2004-09-20 Sold (Public Records) $490,000 Public Records
• 2004-09-13 Sold (MLS) $490,000 PrimeMLS
• 2004-07-12 Delisted — PrimeMLS
• 2004-04-14 Listed $599,000 PrimeMLS
• 2001-10-12 Sold (MLS) $229,900 PrimeMLS
• 2001-09-15 Delisted — PrimeMLS
• 2001-05-30 Listed $229,900 PrimeMLS
• 1998-07-22 Sold (MLS) $62,000 PrimeMLS
• 1998-04-15 Delisted — PrimeMLS
• 1998-03-17 Listed $69,500 PrimeMLS

Property tax history

+5.7%/yr

Latest (2025): $9,325 · +37.5% YoY. Source: county tax records.