520 Champlain St · Berlin, NH 03570

$134,900

4 bd · 2.0 ba · 1,844 sqft · MultiFamily public records · 29 Days on market

Built 1910 4,791 sqft lot Est $144k · 6% under

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Why this score? — see what drove the A- 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
• ARV discount +10.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

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

Listing remarks MLS

Two family home with long term tenants. Great investment or live in one unit and rent out the other to help pay the expenses. The garages in the rear could use some TLC. Near restaurants and walking to downtown. ATV from home to the trails.

Key facts

• Two-family building
• 4,791 sq ft lot
• Built 1910

Tags

• TWO-FAMILY BUILDING
• DIRECT ATV TRAIL ACCESS
• NEARBY SNOWMACHINE TRAILS

Property features AI

Finance

• Financial info: Month-to-month leases for units

Exterior

• Parking: Paved driveway
• Utilities: Public sewer; Public water; Electric service with circuit breakers; Municipal trash service; Eversource electric provider; High-speed internet available; Telephone service available
• Home design: Multi-family building; Wood-frame construction; White exterior; Built in 1910
• Construction: Shingle (asphalt) roof
• Exterior features: Paved driveway; City lot

Interior

• Bedrooms: Two 2-bedroom units (total of 2 units)
• Heating & cooling: Oil heating; No central cooling
• Interior features: Basement with walk-up access; Basement has concrete floor

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $571/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 7.1% in Berlin — 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 66/100 on livability (#67 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: schools D, amenities F, commute F.
• Berlin School District (town): math 24% / reading 30% proficiency, ranked #91 of 98 in NH (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 100 active listings in the ZIP; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• Coos County population projected at -19% 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $61k; list at $135k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,876 (1.5% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.08% ✓
• Cap rate: 16.45%
• Cash-on-cash: 36.28%
• DSCR: 2.61
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $143,832
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Bell Ln	0.47mi	4/2.0	1,664 (-10%)	7mo	$129,900	$78	56
467 Burgess St	0.09mi	5/3.0 (+1)	2,080 (+13%)	21mo	$195,000	$94	48
88 Pine St	0.65mi	5/2.0 (+1)	1,680 (-9%)	9mo	$125,000	$74	43

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: 52.2%
• Equity multiple: 4.87×
• Total profit: $146,329
• Equity at exit: $121,529

10-year hold

• IRR: 45.8%
• Equity multiple: 10.90×
• Total profit: $373,974
• Equity at exit: $262,081

Cash invested: $37,772 (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 03570

• Home prices YoY: 14.3%
• Active inventory: 100
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,802 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$308 /mo · $3,696/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $1,142

Break-even live

Break-even rent $1,357

Max offer price $134,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,802
Total (2 units)			$2,802

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $134,900 Active 29 DOM
2. 2026-06-17
   days on market $134,900 Active 28 DOM
3. 2026-06-16
   days on market $134,900 Active 27 DOM
4. 2026-06-15
   days on market $134,900 Active 26 DOM
5. 2026-06-13
   days on market $134,900 Active 24 DOM
6. 2026-06-12
   days on market $134,900 Active 23 DOM
7. 2026-06-09
   days on market $134,900 Active 20 DOM
8. 2026-06-08
   days on market $134,900 Active 19 DOM
9. 2026-06-07
   days on market $134,900 Active 18 DOM
10. 2026-06-07
    days on market $134,900 Active 17 DOM
11. 2026-06-04
    days on market $134,900 Active 14 DOM
12. 2026-06-02
    days on market $134,900 Active 13 DOM
13. 2026-06-01
    days on market $134,900 Active 12 DOM
14. 2026-05-31
    days on market $134,900 Active 11 DOM
15. 2026-05-20
    listed $134,900 Active
16. 2024-02-29
    price $135,000
17. 2023-12-09
    price $125,000
18. 2023-11-10
    price $130,000
19. 2023-10-18
    price $135,000
20. 2023-09-26
    price $140,000
21. 2022-02-17
    soldstatus $61,000 Closed 241-char remark

    Show marketing remark (241 chars)

    Two family home with long term tenants. Great investment or live in one unit and rent out the other to help pay the expenses. The garages in the rear could use some TLC. Near restaurants and walking to downtown. ATV from home to the trails.

22. 2021-12-27
    historical Active with Contract 241-char remark

    Show marketing remark (241 chars)

    Two family home with long term tenants. Great investment or live in one unit and rent out the other to help pay the expenses. The garages in the rear could use some TLC. Near restaurants and walking to downtown. ATV from home to the trails.

23. 2021-11-22
    listed $69,000 Active 241-char remark

    Show marketing remark (241 chars)

    Two family home with long term tenants. Great investment or live in one unit and rent out the other to help pay the expenses. The garages in the rear could use some TLC. Near restaurants and walking to downtown. ATV from home to the trails.

24. 2020-12-29
    soldstatus $55,000 Closed
25. 2020-11-02
    status Pending
26. 2020-08-21
    listed $59,500 Active

ⓘ 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: $3,696 · $308/mo
• Projected year-2 tax: $3,696 · $308/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 8 d/yr ≥85°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $33,624
• − Mortgage interest: −$7,556
• − Property taxes: −$3,696
• − Insurance: −$674
• − Repairs & maintenance: −$2,690
• − Management: −$2,690
• − Depreciation: −$3,924
• Taxable income: $12,393
• Est. tax owed @ 24.0%: −$2,974
• After-tax cash flow: $10,729/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: Berlin School District
• NCES district ID: 3301860
• Math proficiency: 24% ▼ -5.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $37,494
• Composite: 22.5/100
• National rank: #8095
• State rank: #91 of 98 in NH

Livability — Berlin

• Score: 66/100
• State rank: #67
• US rank: #11665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berlin, NH
• City population: 9,473
• Population (ZIP): 9,473

Population outlook (Coos County) Hauer SSP2

• Today (2025): 30,912 people
• By 2030: 29,872 · -3.4%
• By 2040: 27,449 · -11.2%
• By 2050: 25,049 · -19.0%
• By 2075: 19,584 · -36.6%
• By 2100: 13,818 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Black 4% Two or more races 4%
• Common ancestry: Lithuanian 21% German 2% Romanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 88% English-only · French/Haitian/Cajun 8% Spanish 4%

Political lean MEDSL · Coos

• 2024 margin: R (+13.8) · D 42.7% · R 56.5%
• 2008→2024 swing: -32.1pp toward R · 2008: 18.3pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+5.9 2016: R+9.1 2012: D+17.6 2008: D+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 55.16%
• Current HPI: 440.9127
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+126.7% since first listed

12 events — show timeline

• 2026-05-20 Listed $134,900 PrimeMLS
• 2024-02-29 Price Changed $135,000 PrimeMLS
• 2023-12-09 Price Changed $125,000 PrimeMLS
• 2023-11-10 Price Changed $130,000 PrimeMLS
• 2023-10-18 Price Changed $135,000 PrimeMLS
• 2023-09-26 Price Changed $140,000 PrimeMLS
• 2022-02-17 Sold (MLS) $61,000 PrimeMLS
• 2021-12-27 Contingent — PrimeMLS
• 2021-11-22 Listed $69,000 PrimeMLS
• 2020-12-29 Sold (MLS) $55,000 PrimeMLS
• 2020-11-02 Pending — PrimeMLS
• 2020-08-21 Listed $59,500 PrimeMLS

Property tax history

+4.5%/yr

Latest (2025): $3,696 · +5.9% YoY. Source: county tax records.