82 Summer St · Laconia, NH 03246

$397,500

5 bd · 2.0 ba · 1,821 sqft · MultiFamily public records · 5 Days on market

Built 1910 7,840 sqft lot $218/sqft · 10% above area Est $382k · at est.

---

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 +16.5/30.0
• ARV discount +5.7/15.0
• DSCR +5.1/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

This 2-unit multi-family property is the best value in town! The first-floor unit offers 3 bedrooms and 1 bath, while the second-floor unit features 2 bedrooms and 1 bath. Both apartments have separate utilities, keeping owner expenses low with only snow removal, landscaping, taxes, and insurance to cover. Each unit includes its own private basement area with washer/dryer hookups and plenty of storage space. There is also a detached 2-car garage. The first-floor apartment has been updated with a fully renovated kitchen featuring granite countertops and new flooring, and the carpet was replaced just a year ago. The spacious living area and generously sized bedrooms make this unit especially

Key facts

• Washer dryer hookups
• Vinyl siding
• Granite countertops

Tags

• PRIVATE BASEMENT AREA
• WASHER DRYER HOOKUPS
• DETACHED 2 CAR GARAGE
• FULLY RENOVATED KITCHEN
• GRANITE COUNTERTOPS
• VINYL SIDING

Property features AI

Finance

• Other: Operating expenses include insurance, snow removal and other expenses
• Financial info: Net income reported: $39,264

Exterior

• Parking: Detached 2-car garage capacity
• Utilities: Public sewer; Public water; 60 amp electrical service with fuses; On-site gas; Cable and fiber optic internet available
• Home design: New Englander style; Existing property; White exterior
• Construction: Built in 1910; Wood frame construction with vinyl siding; Architectural shingle roof; Full basement foundation
• Exterior features: Paved driveway; City lot, landscaped with sidewalks; In-town location near shopping, public transportation and hospital; Public road frontage (66 ft)

Interior

• Kitchen: Unit 1 includes refrigerator; Unit 2 includes refrigerator and electric range
• Bedrooms: One 3-bedroom unit on the first level; One 2-bedroom unit on the second level
• Flooring: Ceramic tile; Carpet; Hardwood; Vinyl plank
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Natural gas heating; Baseboard and hot water heating with multiple zones; No central air
• Interior features: Full basement with interior access, concrete floor, storage space and interior stairs; Porch; Sunroom; Smoke detector
• Laundry & utility: Laundry hookups in both units; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $398k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive. Per door: $116/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $356k (10.6% below list).
• Recommended offer: $356k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 1.8% in Laconia — 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 79/100 on livability (#20 in NH, #2,314 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Laconia School District (town): math 24% / reading 31% proficiency, ranked #89 of 98 in NH (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Laconia Middle School (math 28% / reading 29%, grade F, #75 of 96 statewide, top 78%, 408 students, 47% FRL); Laconia High School (math 32% / reading 37%, grade F, #73 of 90 statewide, top 83%, 590 students, 39% FRL).
• Market conditions: Rents rising fast (+21.6%/yr); 188 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).
• At $3,555/mo this rent would consume 58% of the median local household income ($73k/yr) (locally 722% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $355,500 (10.6% below list)

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 1910 — 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 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?
6. 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?
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: 0.89% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.51%
• DSCR: 1.11
• GRM: 9.3

CMA / ARV

• ARV (median comp): $382,105
• List price: $397,500
• Delta: 4.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
59 Winter St	0.06mi	4/2.0 (-1)	1,695 (-7%)	20mo	$366,000	$216	64
85 Summer St	0.03mi	5/2.0	2,076 (+14%)	14mo	$390,000	$188	64
32 Summer St	0.12mi	4/2.0 (-1)	2,088 (+15%)	5mo	$385,000	$184	61
24 Parker St	0.51mi	4/3.0 (-1)	1,989 (+9%)	3mo	$315,000	$158	50
90 Merrimac St	0.47mi	4/2.0 (-1)	1,722 (-5%)	19mo	$385,000	$224	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.72×
• Total profit: $-30,860
• Equity at exit: $59,269

10-year hold

• IRR: 7.6%
• Equity multiple: 1.70×
• Total profit: $77,505
• Equity at exit: $34,369

Cash invested: $111,300 (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 03246

• Home prices YoY: -19.8%
• Rents YoY: 21.6%
• Active inventory: 188
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $3,555 high
• Mortgage (P&I): −$2,085
• Tax from tax record: −$326 /mo · $3,908/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $233

Break-even live

Break-even rent $3,261

Max offer price $397,500

Occupancy floor 88%

Sensitivity live

Price	-10% $458	-5% $345	+0% $233	+5% $120	+10% $8
Rent	-10% $-48	-5% $92	+0% $233	+5% $373	+10% $513
Rate	-1.0pp $433	-0.5pp $334	base $233	+0.5pp $130	+1.0pp $25

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,554
Total (2 units)			$3,555

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: $99,375
• Closing costs: $11,925
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-14
   listed $397,500 Active 1154-char remark
2. 2025-01-18
   historical $2,100
3. 2025-01-04
   listed $2,100

ⓘ 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: $3,908 · $326/mo
• Projected year-2 tax: $6,287 · $524/mo
• Expected delta: +$2,379/yr (+$198/mo · 60.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $42,660
• − Mortgage interest: −$22,266
• − Property taxes: −$3,908
• − Insurance: −$1,988
• − Repairs & maintenance: −$3,413
• − Management: −$3,413
• − Depreciation: −$11,564
• Taxable loss: −$3,891
• Est. tax savings @ 24.0%: +$934
• After-tax cash flow: $3,725/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: Laconia School District
• NCES district ID: 3304140
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 31% ▼ -7.00%
• Median HH income: $49,155
• Composite: 24.03/100
• National rank: #7770
• State rank: #89 of 98 in NH

Livability — Laconia

• Score: 79/100
• State rank: #20
• US rank: #2314

Category grades

Amenities A- Commute F 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: Laconia, NH
• County: Belknap County · 17,103 people
• City population: 17,103
• Metro: Laconia, NH
• Population (ZIP): 17,103
• Household income: $73,241
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 722.0

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 17% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Belknap

• 2024 margin: R (+13.1) · D 43.1% · R 56.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 1.2pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.4 2016: R+16.8 2012: R+5.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.22%
• Current HPI: 389.8118
• Rent YoY: ▲ 21.59%
• Metro: Laconia, NH
• State GDP YoY: —
• F500 in state: 0

Price history

+18828.6% since first listed

4 events — show timeline

• 2026-05-19 Pending — PrimeMLS
• 2026-05-14 Listed $397,500 PrimeMLS
• 2025-01-18 Rental Removed $2,100 NEREN
• 2025-01-04 Listed for Rent $2,100 NEREN

Property tax history

+1.7%/yr

Latest (2025): $3,908 · -10.2% YoY. Source: county tax records.