155 Court St · Exeter, NH 03833

$899,000

4 bd · 3.0 ba · 3,152 sqft · MultiFamily public records · 45 Days on market

Built 1956 0.62 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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.6/10.0
• Livability +4.5/5.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

Key facts

• Modernized interiors
• In unit laundry
• Private parking

Tags

• IN UNIT LAUNDRY
• PRIVATE PARKING
• MODERNIZED INTERIORS

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Private water source; Cable available; Internet availability unknown; Sewer: Community
• Home design: Multi-family property; Existing construction; White exterior color
• Construction: Built in 1956; Wood frame with aluminum siding; Asphalt and fiberglass shingle roof; Foundation details not specified
• Exterior features: Wooded lot; Paved driveway

Interior

• Bedrooms: Three units: one 1-bedroom unit and two 2-bedroom units
• Flooring: Concrete; Carpet; Vinyl
• Bathrooms: Three full bathrooms (total across units)
• Heating & cooling: Electric heating; Heat pump; Cooling: Other
• Interior features: Basement present with walk-up access; Basement has concrete floor, is unfinished, and includes a walkout
• Laundry & utility: Each unit includes a washer and dryer; 200 Amp electric service

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $750/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $899k).
• Recommended offer: $872k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 2.8% in Exeter — 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 91/100 on livability (#1 in NH, #59 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Exeter School District (suburban): math 46% / reading 57% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• At $10,624/mo this rent would consume 107% of the median local household income ($119k/yr) (locally 485% 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 $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $350k; list at $899k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $872,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1956 — 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. Schools are A-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?
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: 1.18% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• 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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-2,281
• Equity at exit: $134,044

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $182,984
• Equity at exit: $77,729

Cash invested: $251,720 (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 03833

• Active inventory: 143
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $10,624 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$1,054 /mo · $12,652/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,231
• Net cashflow: $2,250

Break-even live

Break-even rent $7,776

Max offer price $899,000

Occupancy floor 74%

Sensitivity live

Price	-10% $2,758	-5% $2,504	+0% $2,250	+5% $1,995	+10% $1,741
Rent	-10% $1,410	-5% $1,830	+0% $2,250	+5% $2,669	+10% $3,089
Rate	-1.0pp $2,702	-0.5pp $2,478	base $2,250	+0.5pp $2,017	+1.0pp $1,780

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$10,623
Total (3 units)			$10,624

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 River Bend Cir Exeter, NH	3.0	3.0	2184	$4,100	$1.88	0d	1	0.20mi
22 River Bend Cir Exeter, NH	3.0	2.5	2184	$4,100	$1.88	17d	1	0.20mi
69 Court St Exeter, NH	4.0	3.5	3602	$7,500	$2.08	0d	1	0.87mi

Listing history 11 events

1. 2026-05-11
   price $899,000
2. 2026-04-09
   listed $925,000 Active
3. 2022-09-30
   soldstatus $350,000 Closed 479-char remark

   Show marketing remark (479 chars)

   Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

4. 2022-09-15
   status Pending 479-char remark

   Show marketing remark (479 chars)

   Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

5. 2022-08-30
   price $395,000 479-char remark

   Show marketing remark (479 chars)

   Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

6. 2022-08-25
   status Active 479-char remark

   Show marketing remark (479 chars)

   Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

7. 2022-08-09
   status Pending 479-char remark

   Show marketing remark (479 chars)

   Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

8. 2022-07-16
   price $415,000 479-char remark

   Show marketing remark (479 chars)

   Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

9. 2022-07-16
   status Active 479-char remark

   Show marketing remark (479 chars)

   Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

10. 2022-06-29
    status Pending 479-char remark

    Show marketing remark (479 chars)

    Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

11. 2022-06-16
    listed $445,000 Active - Delayed Showings 479-char remark

    Show marketing remark (479 chars)

    Back on market! This is priced substantially under recent appraised value. There is a lot of potential in this house, wide pine floors, character and lot of square footage. Highly desirable single family in Exeter with an attached in law you can live in while you upgrade main house. Great access to downtown Exeter, schools, commuter rail and hospital. The house being sold, "as is" and ready for a quick Cash sale. Utility easement and shared driveway with back lot.

ⓘ 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: $12,652 · $1,054/mo
• Projected year-2 tax: $16,125 · $1,344/mo
• Expected delta: +$3,473/yr (+$289/mo · 27.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 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: $127,488
• − Mortgage interest: −$50,358
• − Property taxes: −$12,652
• − Insurance: −$4,495
• − Repairs & maintenance: −$10,199
• − Management: −$10,199
• − Depreciation: −$26,153
• Taxable income: $13,432
• Est. tax owed @ 24.0%: −$3,224
• After-tax cash flow: $23,771/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: Exeter School District
• NCES district ID: 3302970
• Math proficiency: 46% ▼ -21.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $69,970
• Composite: 45.9/100
• National rank: #2549
• State rank: #32 of 98 in NH

Livability — Exeter

• Score: 91/100
• State rank: #1
• US rank: #59

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, NH
• County: Rockingham County · 137,526 people
• City population: 22,817
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,817
• Household income: $119,393
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 485.0

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% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Slovak 5% Romanian 5%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 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: ▼ -202.07%
• Current HPI: 288.0139
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+102.0% since first listed

11 events — show timeline

• 2026-05-11 Price Changed $899,000 PrimeMLS
• 2026-04-09 Listed $925,000 PrimeMLS
• 2022-09-30 Sold (MLS) $350,000 PrimeMLS
• 2022-09-15 Pending — PrimeMLS
• 2022-08-30 Price Changed $395,000 PrimeMLS
• 2022-08-25 Relisted — PrimeMLS
• 2022-08-09 Pending — PrimeMLS
• 2022-07-16 Price Changed $415,000 PrimeMLS
• 2022-07-16 Relisted — PrimeMLS
• 2022-06-29 Pending — PrimeMLS
• 2022-06-16 Listed $445,000 PrimeMLS

Property tax history

+4.0%/yr

Latest (2025): $12,652 · +14.0% YoY. Source: county tax records.