7 & 9 Glen St · Farmington, NH 03835

$336,000

None bd · 2.0 ba · 2,408 sqft · MultiFamily · 30 Days on market

Built 1893 Fair condition 0.25 ac lot Est $443k · 24% under ↓ 9% since listing

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Why this score? — see what drove the B 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Introducing a prime investment opportunity in Farmington, NH! This property, located at 7 Glen Street, presents a 3,989 SF building consisting of 2 units, perfectly suited for the multifamily/low-rise/garden investor. With a zoning designation of UR Urban Res. and boasting 100% occupancy, this property offers a lucrative investment prospect. Situated in the desirable Farmington area, this meticulously maintained property promises a strong return on investment. Don't miss out on the potential of this well positioned asset in a high-demand market. All showings and visits must be accompanied by agent.

Key facts

• High demand market
• Multifamily units
• 0.25 acre lot

Tags

• PRIME INVESTMENT OPPORTUNITY
• MULTIFAMILY UNITS
• 100 PERCENT OCCUPANCY
• STRONG RETURN ON INVESTMENT
• WELL POSITIONED ASSET
• HIGH DEMAND MARKET

Property features AI

Exterior

• Parking: Paved driveway
• Utilities: Public sewer; Public water; Telephone available; Cable internet available; Circuit breaker electrical service
• Home design: Cape / New Englander style; Existing construction; Brown exterior color
• Construction: Wood frame construction with clapboard/wood exterior; Asphalt shingle roof; Built in 1893
• Exterior features: Paved driveway; Paved road frontage

Interior

• Bedrooms: One 2-bedroom unit; One 3+ bedroom unit
• Bathrooms: Two full bathrooms (total in property)
• Heating & cooling: Hot water heating; Oil heating; No central cooling
• Interior features: Walkout unfinished basement; Unfinished basement

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath multifamily listed at $336k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $336k).
• Recommended offer: $331k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.3% in Farmington — 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 64/100 on livability (#79 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: health & safety C-, schools D, amenities F.
• Farmington School District (rural): math 20% / reading 36% proficiency, ranked #86 of 98 in NH (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 35 active listings in the ZIP; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).
• At $4,428/mo this rent would consume 79% of the median local household income ($67k/yr) (locally 201% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $94k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($331k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $330,960 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.32% ✓
• Cap rate: 10.49%
• Cash-on-cash: 15.00%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $443,072
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Church St	0.29mi	7/3.0	2,370 (-2%)	20mo	$430,000	$181	63
30 Central St	0.35mi	4/2.0	2,232 (-7%)	17mo	$354,900	$159	57
37 Grove St	0.33mi	—/3.0	2,740 (+14%)	7mo	$505,000	$184	52
9 Water St	0.40mi	5/2.0	2,100 (-13%)	14mo	$511,000	$243	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $20,527
• Equity at exit: $50,099

10-year hold

• IRR: 15.0%
• Equity multiple: 2.22×
• Total profit: $114,600
• Equity at exit: $29,051

Cash invested: $94,080 (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 03835

• Home prices YoY: -19.1%
• Active inventory: 35
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $4,428 high
• Mortgage (P&I): −$1,762
• Tax est. 1.5%: −$420 /mo · $5,040/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$930
• Net cashflow: $1,176

Break-even live

Break-even rent $2,939

Max offer price $336,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,428
Total (2 units)			$4,428

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: $84,000
• Closing costs: $10,080
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-01
   status Pending
2. 2026-04-01
   listed $336,000 Active
3. 2026-03-30
   price $336,000
4. 2025-10-22
   price $369,000

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

Taxation est. · year 1

• Rental income: $53,136
• − Mortgage interest: −$18,821
• − Property taxes: −$5,040
• − Insurance: −$1,680
• − Repairs & maintenance: −$4,251
• − Management: −$4,251
• − Depreciation: −$9,775
• Taxable income: $9,318
• Est. tax owed @ 24.0%: −$2,236
• After-tax cash flow: $11,877/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to update the kitchen and bathrooms, repair the roof, and improve the overall appearance. It has potential for significant value increase with these updates.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — basic and dated
• Moderate roof shingles — visible wear

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing kitchen will appeal to both buyers and renters
• Both replace bathroom fixtures — modernizing bathrooms will appeal to both buyers and renters
• Both repair and re-shingle roof — improving roof will increase property value and reduce maintenance costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · basic and dated	Moderate	$3,000–15,000
roof shingles · visible wear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing kitchen will appeal to both buyers and renters ↑
• Both replace bathroom fixtures — modernizing bathrooms will appeal to both buyers and renters ↑
• Both repair and re-shingle roof — improving roof will increase property value and reduce maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Farmington School District
• NCES district ID: 3303000
• Math proficiency: 20% ▼ -8.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $52,860
• Composite: 24.76/100
• National rank: #7602
• State rank: #86 of 98 in NH

Livability — Farmington

• Score: 64/100
• State rank: #79
• US rank: #13784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmington, NH
• County: Strafford County · 75,181 people
• City population: 6,804
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 6,804
• Household income: $66,982
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 201.0

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Asian 3% Black 1%
• Common ancestry: Lithuanian 14% Italian 3% Romanian 2%
• Foreign-born: 4% · Canada

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.63%
• Current HPI: 235.4884
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

-8.9% since first listed

4 events — show timeline

• 2026-05-01 Pending — PrimeMLS
• 2026-04-01 Listed $336,000 PrimeMLS
• 2026-03-30 Price Changed $336,000 PrimeMLS
• 2025-10-22 Price Changed $369,000 PrimeMLS