515 Washington St · Keene, NH 03431

$295,000

3 bd · 1.0 ba · 1,278 sqft · SingleFamily public records · 41 Days on market

Built 1900 0.39 ac lot $231/sqft · 7% above area Est $275k · 7% 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 +16.0/30.0
• DSCR +5.0/10.0
• Livability +4.4/5.0
• ARV discount +4.2/15.0
• 1% rule +3.4/10.0
• Rent growth +3.4/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom home with thoughtful upgrades and a flexible layout! The renovated kitchen is a standout, featuring a new stove, new sink, updated plumbing, new masonry work, and a brand-new island with prep sink—perfect for cooking and entertaining. The cabinet-packed space with stainless steel appliances opens to a cozy dining area with a wood stove and access to the two-tier back deck overlooking scenic Beaver Brook. Enjoy new fencing surrounding the yard. The home also offers a desirable main-level primary suite complete with a full bath and private exterior access. A bright living room with recessed lighting and a full bath with laundry complete the first floor. Upstairs, you’ll find two spacious bedrooms with recessed lighting and laminate flooring. A wonderful blend of updates, comfort, and natural beauty! All this and enjoy easy access to Route 9, many parks and Keene's bustling downtown!

Key facts

• New stove
• Cozy dining area
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• NEW STOVE
• NEW SINK
• UPDATED PLUMBING
• BRAND-NEW ISLAND
• COZY DINING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/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 $247k (16.3% below list).
• Recommended offer: $247k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.1% in Keene — 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 88/100 on livability (#4 in NH, #192 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Keene School District (town): math 26% / reading 47% proficiency, ranked #76 of 98 in NH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 63 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 166 units permitted in Cheshire County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Cheshire County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 $170k; list at $295k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $246,844 (16.3% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
5. 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?
6. 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.
7. 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.
8. 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: 6.89%
• Cash-on-cash: 2.14%
• DSCR: 1.10
• GRM: 10.0

CMA / ARV

• ARV (median comp): $274,997
• List price: $295,000
• Delta: 7.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Woodbury St	0.15mi	3/1.0	1,178 (-8%)	1mo	$425,000	$361	79
9 Rule St	0.30mi	3/2.0	1,296 (+1%)	2mo	$346,500	$267	78
16 Charles St	0.20mi	3/2.0	1,360 (+6%)	10mo	$390,000	$287	68
117 Gilsum St	0.37mi	3/1.0	1,368 (+7%)	10mo	$240,000	$175	62
63 Rule St	0.25mi	3/1.0	1,110 (-13%)	7mo	$299,000	$269	60
77 Franklin St	0.73mi	3/1.0	1,248 (-2%)	5mo	$150,000	$120	58
211 Elm St	0.63mi	3/1.0	1,408 (+10%)	3mo	$358,000	$254	52
253 Elm St	0.59mi	3/2.0	1,360 (+6%)	9mo	$270,000	$199	51
123 Howard St	0.48mi	3/1.0	1,457 (+14%)	7mo	$355,000	$244	49
17 Baldwin St	0.66mi	2/1.0 (-1)	1,204 (-6%)	9mo	$310,000	$257	47
65 Dover St	0.73mi	2/2.0 (-1)	1,368 (+7%)	8mo	$275,000	$201	38
98 Carroll St	0.62mi	4/2.0 (+1)	1,462 (+14%)	4mo	$269,000	$184	35

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-37,477
• Equity at exit: $43,985

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-16,577
• Equity at exit: $25,506

Cash invested: $82,600 (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 03431

• Home prices YoY: -34.4%
• Rents YoY: 3.4%
• Active inventory: 63
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,468 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$133 /mo · $1,598/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $147

Break-even live

Break-even rent $2,282

Max offer price $295,000

Occupancy floor 89%

Sensitivity live

Price	-10% $314	-5% $230	+0% $147	+5% $63	+10% $-20
Rent	-10% $-48	-5% $49	+0% $147	+5% $244	+10% $342
Rate	-1.0pp $296	-0.5pp $222	base $147	+0.5pp $71	+1.0pp $-7

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35-37 Washington Ave Unit 1A Keene, NH	3.0	1.0	900	$765	$0.85	44d	1	0.38mi
141 Spruce St Keene, NH	3.0	1.0	1000	$1,700	$1.70	44d	1	0.71mi
489 Elm St Keene, NH	2.0	1.0	880	$2,400	$2.73	44d	1	0.77mi
120 Emerald St Keene, NH	4.0	2.0	1140	$838	$0.73	24d	2	1.36mi
216 West St Unit 004 Keene, NH	2.0	2.0	1329	$3,225	$2.43	44d	1	1.39mi
222 West St Keene, NH	2.0	1.0–2.0	936	$3,225	$3.44	24d	5	1.40mi

Listing history 11 events

1. 2026-05-06
   status Pending 924-char remark

   Show marketing remark (924 chars)

   Charming 3-bedroom home with thoughtful upgrades and a flexible layout! The renovated kitchen is a standout, featuring a new stove, new sink, updated plumbing, new masonry work, and a brand-new island with prep sink—perfect for cooking and entertaining. The cabinet-packed space with stainless steel appliances opens to a cozy dining area with a wood stove and access to the two-tier back deck overlooking scenic Beaver Brook. Enjoy new fencing surrounding the yard. The home also offers a desirable main-level primary suite complete with a full bath and private exterior access. A bright living room with recessed lighting and a full bath with laundry complete the first floor. Upstairs, you’ll find two spacious bedrooms with recessed lighting and laminate flooring. A wonderful blend of updates, comfort, and natural beauty! All this and enjoy easy access to Route 9, many parks and Keene's bustling downtown!

2. 2026-04-10
   price $295,000 924-char remark

   Show marketing remark (924 chars)

   Charming 3-bedroom home with thoughtful upgrades and a flexible layout! The renovated kitchen is a standout, featuring a new stove, new sink, updated plumbing, new masonry work, and a brand-new island with prep sink—perfect for cooking and entertaining. The cabinet-packed space with stainless steel appliances opens to a cozy dining area with a wood stove and access to the two-tier back deck overlooking scenic Beaver Brook. Enjoy new fencing surrounding the yard. The home also offers a desirable main-level primary suite complete with a full bath and private exterior access. A bright living room with recessed lighting and a full bath with laundry complete the first floor. Upstairs, you’ll find two spacious bedrooms with recessed lighting and laminate flooring. A wonderful blend of updates, comfort, and natural beauty! All this and enjoy easy access to Route 9, many parks and Keene's bustling downtown!

3. 2026-03-26
   listed $300,000 Active 924-char remark

   Show marketing remark (924 chars)

   Charming 3-bedroom home with thoughtful upgrades and a flexible layout! The renovated kitchen is a standout, featuring a new stove, new sink, updated plumbing, new masonry work, and a brand-new island with prep sink—perfect for cooking and entertaining. The cabinet-packed space with stainless steel appliances opens to a cozy dining area with a wood stove and access to the two-tier back deck overlooking scenic Beaver Brook. Enjoy new fencing surrounding the yard. The home also offers a desirable main-level primary suite complete with a full bath and private exterior access. A bright living room with recessed lighting and a full bath with laundry complete the first floor. Upstairs, you’ll find two spacious bedrooms with recessed lighting and laminate flooring. A wonderful blend of updates, comfort, and natural beauty! All this and enjoy easy access to Route 9, many parks and Keene's bustling downtown!

4. 2021-04-02
   soldstatus $170,000 Closed 550-char remark

   Show marketing remark (550 chars)

   Located in a convenient part of town. . is where you will find this cute 3 Bedroom/2 Bath remodeled home. Enjoy sitting on the tiered deck overlooking the private back yard while listening to the babbling Beaver Brook. I think you will like what you see! A pleasant surprise for sure. Newer Boiler, windows, flooring, bathroom updates, interior painting and more! Close to the hospital, stores, Keene Rec Center, and easy access to Route 9. This one is move in ready! Make an appointment today to see this gem! Showings Begin Sunday, Feb. 21st.

5. 2021-02-24
   status Pending 550-char remark

   Show marketing remark (550 chars)

   Located in a convenient part of town. . is where you will find this cute 3 Bedroom/2 Bath remodeled home. Enjoy sitting on the tiered deck overlooking the private back yard while listening to the babbling Beaver Brook. I think you will like what you see! A pleasant surprise for sure. Newer Boiler, windows, flooring, bathroom updates, interior painting and more! Close to the hospital, stores, Keene Rec Center, and easy access to Route 9. This one is move in ready! Make an appointment today to see this gem! Showings Begin Sunday, Feb. 21st.

6. 2021-02-18
   listed $159,900 Active 550-char remark

   Show marketing remark (550 chars)

   Located in a convenient part of town. . is where you will find this cute 3 Bedroom/2 Bath remodeled home. Enjoy sitting on the tiered deck overlooking the private back yard while listening to the babbling Beaver Brook. I think you will like what you see! A pleasant surprise for sure. Newer Boiler, windows, flooring, bathroom updates, interior painting and more! Close to the hospital, stores, Keene Rec Center, and easy access to Route 9. This one is move in ready! Make an appointment today to see this gem! Showings Begin Sunday, Feb. 21st.

7. 2010-03-29
   soldstatus $115,000
8. 2009-10-18
   listed $115,000
9. 2004-07-30
   soldstatus $127,500
10. 2004-07-02
    historical
11. 2004-05-27
    listed $129,900

ⓘ 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: $1,598 · $133/mo
• Projected year-2 tax: $4,015 · $335/mo
• Expected delta: +$2,416/yr (+$201/mo · 151.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $29,621
• − Mortgage interest: −$16,525
• − Property taxes: −$1,598
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,370
• − Management: −$2,370
• − Depreciation: −$8,582
• Taxable loss: −$3,297
• Est. tax savings @ 24.0%: +$791
• After-tax cash flow: $2,555/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: Keene School District
• NCES district ID: 3304050
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $51,158
• Composite: 31.62/100
• National rank: #5943
• State rank: #76 of 98 in NH

Livability — Keene

• Score: 88/100
• State rank: #4
• US rank: #192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keene, NH
• County: Cheshire County · 25,065 people
• City population: 25,065
• Metro: Keene, NH
• Population (ZIP): 25,065
• Household income: $79,541
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 716.0

Population outlook (Cheshire County) Hauer SSP2

• Today (2025): 74,613 people
• By 2030: 72,495 · -2.8%
• By 2040: 66,778 · -10.5%
• By 2050: 60,963 · -18.3%
• By 2075: 49,511 · -33.6%
• By 2100: 39,687 · -46.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 10% Slovak 4% Romanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · French/Haitian/Cajun 1% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Cheshire

• 2024 margin: Lean D (+9.8) · D 54.4% · R 44.6% · Other 1.1%
• 2008→2024 swing: -17.8pp toward R · 2008: 27.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+17.2 2016: D+12.6 2012: D+24.8 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.55%
• Current HPI: 387.6804
• Rent YoY: ▲ 3.43%
• Metro: Keene, NH
• State GDP YoY: —
• F500 in state: 0

Price history

+127.1% since first listed

11 events — show timeline

• 2026-05-06 Pending — PrimeMLS
• 2026-04-10 Price Changed $295,000 PrimeMLS
• 2026-03-26 Listed $300,000 PrimeMLS
• 2021-04-02 Sold (MLS) $170,000 PrimeMLS
• 2021-02-24 Pending — PrimeMLS
• 2021-02-18 Listed $159,900 PrimeMLS
• 2010-03-29 Sold (MLS) $115,000 PrimeMLS
• 2009-10-18 Listed $115,000 PrimeMLS
• 2004-07-30 Sold (MLS) $127,500 PrimeMLS
• 2004-07-02 Delisted — PrimeMLS
• 2004-05-27 Listed $129,900 PrimeMLS