3 Wells St · Enfield, NH 03748

$399,000

4 bd · 2.0 ba · 2,418 sqft · MultiFamily public records · 1 Days on market

Built 1900 0.80 ac lot Est $346k · 15% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.6/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Strong Cash Flow! Profitable Investment Opportunity!! This fully leased two unit multi family property is an excellent chance for investors to add a consistent cash flowing building to their portfolio or for an onsite owner to occupy one unit and let the extra additional rent help pay for your housing. A low maintenance property with many updates over the years which include freshly painted exterior one year ago, some vinyl windows, asphalt shingle roof, foam and celulose insulation, separate electrical meters and seperate boiler units for each unit as the tenants pay for their own heat and electric. Inside you will find spacious rooms, with generously sized kitchen spaces, plenty of cabine

Key facts

• Vinyl windows
• Foam insulation
• Asphalt shingle roof

Tags

• MULTI FAMILY PROPERTY
• FRESHLY PAINTED EXTERIOR
• VINYL WINDOWS
• ASPHALT SHINGLE ROOF
• FOAM INSULATION
• CELULOSE INSULATION

Property features AI

Finance

• Other: Survey status unknown; Deed available among documents
• Financial info: Two-unit property with annual lease terms typical; Includes land and building

Exterior

• Parking: Gravel driveway parking
• Utilities: Public water; Public sewer; Electric service with circuit breakers; LP/bottle gas available; Cable and telephone available; High-speed internet available; Electric service provided by Liberty; Fuel service by Irving
• Home design: Multi-family building; Existing structure built in 1900; White exterior
• Construction: Clapboard and wood siding exterior; Cellulose, fiberglass batt and foam insulation; Shingle roof (architectural/asphalt); Originally built in 1900
• Exterior features: Level and sloping lot in town / neighborhood setting; Gravel driveway; Paved, public road frontage (publicly maintained)

Interior

• Kitchen: Unit 1: Dishwasher, Gas range, Refrigerator; Unit 2: Dishwasher, Gas range, Refrigerator
• Bedrooms: Two 2-bedroom units (Unit 1 on level 1, Unit 2 on level 2)
• Flooring: Carpet; Hardwood; Laminate; Softwood; Vinyl
• Bathrooms: Each unit has one full bathroom (total 2 full baths)
• Heating & cooling: Baseboard heating; Hot water heating; No central cooling
• Interior features: Full unfinished basement with interior access and basement stairs
• Laundry & utility: Each unit has laundry hookup; Separate water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $399k).
• Cap rate 14.2% vs local median 1.4% in Enfield — 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 62/100 on livability (#85 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A; Watch: health & safety D, amenities F, commute F.
• Mascoma Valley Reg School District (rural): math 36% / reading 50% proficiency, ranked #56 of 98 in NH (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Enfield Village School (math 74% / reading 74%, grade A, #13 of 263 statewide, top 6%, 214 students, 22% FRL) — zoned schools at 22% FRL track the district average.
• Zoned-school proficiency averages 74% at this address vs 43% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Mascoma Valley Reg School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 28 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Grafton County population projected at -13% 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 $112k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $399,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.70% ✓
• Cap rate: 14.20%
• Cash-on-cash: 28.24%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $345,774
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Main St	0.17mi	4/3.0	2,727 (+13%)	8mo	$389,000	$143	60

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: 45.7%
• Equity multiple: 4.44×
• Total profit: $384,833
• Equity at exit: $359,451

10-year hold

• IRR: 39.6%
• Equity multiple: 9.97×
• Total profit: $1,001,787
• Equity at exit: $775,169

Cash invested: $111,720 (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 03748

• Home prices YoY: 15.4%
• Active inventory: 28
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $6,800 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$484 /mo · $5,814/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,428
• Net cashflow: $2,629

Break-even live

Break-even rent $3,472

Max offer price $399,000

Occupancy floor 56%

Sensitivity live

Price	-10% $2,855	-5% $2,742	+0% $2,629	+5% $2,516	+10% $2,403
Rent	-10% $2,092	-5% $2,360	+0% $2,629	+5% $2,897	+10% $3,166
Rate	-1.0pp $2,830	-0.5pp $2,730	base $2,629	+0.5pp $2,525	+1.0pp $2,420

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,800
Total (2 units)			$6,800

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $399,000 Active 1 DOM

ⓘ 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: $5,814 · $484/mo
• Projected year-2 tax: $7,256 · $605/mo
• Expected delta: +$1,442/yr (+$120/mo · 24.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $81,600
• − Mortgage interest: −$22,350
• − Property taxes: −$5,814
• − Insurance: −$1,995
• − Repairs & maintenance: −$6,528
• − Management: −$6,528
• − Depreciation: −$11,607
• Taxable income: $26,778
• Est. tax owed @ 24.0%: −$6,427
• After-tax cash flow: $25,120/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: Mascoma Valley Reg School District
• NCES district ID: 3304680
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $63,357
• Composite: 38.2/100
• National rank: #4256
• State rank: #56 of 98 in NH

Livability — Enfield

• Score: 62/100
• State rank: #85
• US rank: #16685

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enfield, NH
• Population (ZIP): 4,568

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 (96%)
• Race & ethnicity: White 96% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 18% Slovak 8% Serbian 3%
• Foreign-born: 3%
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% 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: ▲ 56.61%
• Current HPI: 424.8365
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-18 Listed $399,000 PrimeMLS

Property tax history

+1.7%/yr

Latest (2025): $5,814 · +5.4% YoY. Source: county tax records.