272 Front St · Manchester, NH 03102

$869,999

9 bd · 5.0 ba · 4,400 sqft · MultiFamily public records · 12 Days on market

Built 1890 10,454 sqft lot Est $858k · at est.

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Why this score? — see what drove the C 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +6.9/15.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

MULTI-FAMILY HOME CLOSE TO EVERYTHING…CLEVER INVESTORS TAKE NOTE! This centrally located five unit property is ready for an owner-occupant or those looking to generate passive real estate income. Minutes to the highway taking you easily to Boston, the seacoast or lakes regions with shopping, restaurants, parks and green spaces just out your door this gem is a short stroll to vibrant downtown Manchester and the scenic Merrimack River. Two stories of gracious covered porches framed with white railings and ornamental supports add to the curb appeal of this historic home. The center entrance leads to a grand staircase and welcoming hallway. Five light and bright apartments span three levels and each feature a different floor plan for true versatility for your renters and boast comfortable, sun-filled rooms accented with updated hard surface flooring. High ceilings give a large sense of space, bay windows and substantial moldings add to the charm. Unique kitchens feature granite, butcher block and solid surfaces and vintage cabinetry. The bonus of laundry facilities on the first floor is a highly desirable perk. A large driveway leads to plentiful parking spaces for renters behind the home for ease of living. Many systems and features have been recently updated and refreshed, making this a superb opportunity for the right buyer. WITH FABULOUS INCOME POTENTIAL IN AN ULTRA-CONVENIENT LOCATION. .. IT’S AN INVESTMENT YOUR TENANTS AND WALLET WILL LOVE!

Key facts

• 0.24 acre lot
• Built 1890
• Listed 12 days

Property features AI

Finance

• Other: Approximate total finished area: 4400 (value provided); Approximate total area: 6400 (value provided)
• Financial info: Five-unit property (2 one-bedroom, 2 two-bedroom, 1 three+ bedroom); Unit lease terms include month-to-month and short-term tenancies
• HOA & community: No HOA information provided

Exterior

• Parking: Paved driveway
• Security: No security features provided
• Utilities: Public water; Public sewer; Circuit breaker electrical system; High-speed internet available; Cable available
• Home design: New Englander architectural style; Existing multi-unit building
• Construction: Built in 1890; Wood frame construction with vinyl siding; Rolled and asphalt shingle roofing; Unfinished basement
• Exterior features: City lot near shopping and public transportation; Paved driveway; Public road frontage

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Unit 1: 3 bedrooms (level 1); Two 1-bedroom units; Two 2-bedroom units; One 3+ bedroom unit
• Flooring: No flooring details provided
• Bathrooms: Five full bathrooms total; Each unit includes 1 bath
• Heating & cooling: Hot water heating; Natural gas and oil heating available; No central cooling
• Interior features: Unfinished interior basement with interior access; Month-to-month and short-term lease options for units
• Laundry & utility: No specific laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 2×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $870k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $392/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $870k).
• Cap rate 9.0% vs local median 3.1% in Manchester — 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 83/100 on livability (#10 in NH, #879 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Manchester School District (urban): math 14% / reading 27% proficiency, ranked #96 of 98 in NH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.0%/yr); 71 active listings in the ZIP; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).
• At $9,747/mo this rent would consume 157% of the median local household income ($74k/yr) (locally 1368% 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 $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $869,999

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 1890 — 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. 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: 1.12% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $858,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Rimmon St	0.71mi	8/3.0 (-1)	4,285 (-3%)	12mo	$780,000	$182	40
671 Rimmon St	0.62mi	10/4.0 (+1)	4,265 (-3%)	22mo	$830,000	$195	39

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 · 2.96% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-16,498
• Equity at exit: $129,720

10-year hold

• IRR: 7.9%
• Equity multiple: 1.59×
• Total profit: $144,761
• Equity at exit: $75,222

Cash invested: $243,600 (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 03102

• Home prices YoY: -16.2%
• Rents YoY: 3.0%
• Active inventory: 71
• Price-to-rent: 40.5×

Monthly cashflow live

• Estimated rent: $9,747 high
• Mortgage (P&I): −$4,562
• Tax from tax record: −$814 /mo · $9,772/yr
• Insurance: −$362
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,047
• Net cashflow: $1,961

Break-even live

Break-even rent $7,265

Max offer price $869,999

Occupancy floor 75%

Sensitivity live

Price	-10% $2,453	-5% $2,207	+0% $1,961	+5% $1,715	+10% $1,468
Rent	-10% $1,191	-5% $1,576	+0% $1,961	+5% $2,346	+10% $2,731
Rate	-1.0pp $2,399	-0.5pp $2,182	base $1,961	+0.5pp $1,735	+1.0pp $1,506

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,582
▸ 2× units	2	1	$3,936
1× unit	3	1	$2,231
Total (5 units)			$9,747

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: $217,500
• Closing costs: $26,100
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $869,999 Active 12 DOM
2. 2026-06-17
   days on market $869,999 Active 11 DOM
3. 2026-06-16
   days on market $869,999 Active 10 DOM
4. 2026-06-15
   days on market $869,999 Active 9 DOM
5. 2026-06-14
   days on market $869,999 Active 7 DOM
6. 2026-06-13
   days on market $869,999 Active 6 DOM
7. 2026-06-10
   days on market $869,999 Active 4 DOM
8. 2026-06-09
   days on market $869,999 Active 3 DOM
9. 2026-06-08
   days on market $869,999 Active 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $869,999 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: $9,772 · $814/mo
• Projected year-2 tax: $14,369 · $1,197/mo
• Expected delta: +$4,597/yr (+$383/mo · 47.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $116,964
• − Mortgage interest: −$48,733
• − Property taxes: −$9,772
• − Insurance: −$4,350
• − Repairs & maintenance: −$9,357
• − Management: −$9,357
• − Depreciation: −$25,309
• Taxable income: $10,085
• Est. tax owed @ 24.0%: −$2,420
• After-tax cash flow: $21,111/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: Manchester School District
• NCES district ID: 3304590
• Math proficiency: 14% ▼ -10.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $54,096
• Composite: 18.67/100
• National rank: #8886
• State rank: #96 of 98 in NH

Livability — Manchester

• Score: 83/100
• State rank: #10
• US rank: #879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, NH
• County: Hillsborough County · 309,362 people
• City population: 110,172
• Metro: Manchester-Nashua, NH
• Population (ZIP): 33,959
• Household income: $74,327
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1368.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 412,771 people
• By 2030: 410,974 · -0.4%
• By 2040: 399,959 · -3.1%
• By 2050: 381,542 · -7.6%
• By 2075: 339,855 · -17.7%
• By 2100: 289,270 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Two or more races 8% Black 6% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 11% Romanian 3% Slovak 3%
• Foreign-born: 14% · Canada, China, India
• Languages at home: 81% English-only · Spanish 5% French/Haitian/Cajun 5% Other Indo-European 3%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 50.9% · R 48.0% · Other 1.0%
• 2008→2024 swing: -0.9pp no change · 2008: 3.8pp · 2024: 2.9pp
• All cycles: 2024: D+2.9 2020: D+7.7 2016: R+0.2 2012: D+1.7 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.62%
• Current HPI: 355.9606
• Rent YoY: ▲ 2.96%
• Metro: Manchester-Nashua, NH
• State GDP YoY: —
• F500 in state: 0

Price history

+625.6% since first listed

17 events — show timeline

• 2026-06-06 Listed $869,999 PrimeMLS
• 2026-06-03 Coming Soon $869,999 PrimeMLS
• 2025-01-08 Sold (Public Records) $800,000 Public Records
• 2025-01-08 Sold (MLS) $800,000 PrimeMLS
• 2024-10-29 Contingent — PrimeMLS
• 2024-10-11 Listed $800,000 PrimeMLS
• 2019-12-30 Sold (Public Records) $467,000 Public Records
• 2019-12-30 Sold (MLS) $467,000 PrimeMLS
• 2019-10-01 Pending — PrimeMLS
• 2019-09-20 Listed $469,000 PrimeMLS
• 2016-08-05 Sold (MLS) $308,000 PrimeMLS
• 2016-06-04 Contingent — PrimeMLS
• 2015-05-09 Listed $329,900 PrimeMLS
• 2001-06-13 Sold (Public Records) $105,500 Public Records
• 2001-06-12 Sold (MLS) $105,500 PrimeMLS
• 2001-03-08 Delisted — PrimeMLS
• 2000-07-21 Listed $119,900 PrimeMLS

Property tax history

+5.1%/yr

Latest (2024): $9,772 · +3.8% YoY. Source: county tax records.