712 2Nd Ave · Berlin, NH 03570

$69,000

6 bd · 3.0 ba · 1,596 sqft · MultiFamily public records · 210 Days on market

Built 1910 Excellent condition 3,920 sqft lot $43/sqft · 32% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

(724) SELLER SAYS SELL!!!! Large 3 unit building. Being sold AS-IS , New System 2000 heating system. Close to schools and downtown area.

Key facts

• New floor joists
• Full interior gut
• New lally columns

Tags

• MAJOR STRUCTURAL IMPROVEMENTS
• FULL INTERIOR GUT
• NEW MAIN CARRYING BEAM
• NEW LALLY COLUMNS
• NEW FLOOR JOISTS
• NEW SUBFLOORING

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $69k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $997 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.6% vs local median 6.9% 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: amenities F, commute F, employment 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.
• Zoned schools: Berlin Elementary School (math 35% / reading 33%, grade F, #188 of 263 statewide, top 71%, 422 students, 62% FRL); Berlin Middle School (math 14% / reading 27%, grade F, #88 of 96 statewide, top 93%, 220 students, 47% FRL); Berlin Senior High School (math 27% / reading 32%, grade F, #82 of 90 statewide, top 91%, 368 students, 39% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 172 active listings in the ZIP; lower-income renter base — watch delinquency; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($477 loan paydown + $7k 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 $19k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y ago; this cycle's ask has dropped $26k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $69k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 2.70% ✓
• Cap rate: 23.63%
• Cash-on-cash: 61.92%
• DSCR: 3.75
• GRM: 3.1

CMA / ARV

• ARV (median comp): $175,188
• List price: $69,000
• Delta: -60.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Pine St	0.30mi	5/2.0 (-1)	1,680 (+5%)	13mo	$125,000	$74	57
820 Fourth Ave	0.24mi	5/4.0 (-1)	1,910 (+20%)	8mo	$205,000	$107	48
39 Gilbert St	0.09mi	5/1.5 (-1)	1,362 (-15%)	33mo	$80,000	$59	40
421 Champlain St	0.60mi	5/2.0 (-1)	1,953 (+22%)	4mo	$90,000	$46	35
2 Noyes St	0.62mi	6/2.0	1,783 (+12%)	35mo	$115,000	$64	27
271 Willard St	0.42mi	5/1.5 (-1)	1,923 (+20%)	21mo	$53,000	$28	27
403 2Nd Ave	0.51mi	5/1.0 (-1)	1,296 (-19%)	16mo	$110,000	$85	24
8 Perkins Pl	0.60mi	5/1.5 (-1)	1,989 (+25%)	33mo	$108,000	$54	16
56 Cascade St	1.42mi	5/2.5 (-1)	1,954 (+22%)	30mo	$230,000	$118	13

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: 73.9%
• Equity multiple: 6.23×
• Total profit: $101,098
• Equity at exit: $62,161

10-year hold

• IRR: 67.8%
• Equity multiple: 13.83×
• Total profit: $247,843
• Equity at exit: $134,052

Cash invested: $19,320 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 2 active · 2 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $142,950 ($81/sqft)
• Median days on market: 197 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +35.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 03570

• Home prices YoY: 14.3%
• Active inventory: 172
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,865 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $997

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,045	-5% $1,021	+0% $997	+5% $973	+10% $949
Rent	-10% $849	-5% $923	+0% $997	+5% $1,071	+10% $1,144
Rate	-1.0pp $1,032	-0.5pp $1,014	base $997	+0.5pp $979	+1.0pp $961

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: $17,250
• Closing costs: $2,070
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
867 Western Ave Berlin, NH	1.0	1.0	—	$1,100	—	35d	1	0.20mi
109 York St Unit 3 Berlin, NH	1.0	1.0	—	$750	—	29d	1	0.21mi
798 5th Ave Berlin, NH	1.0	1.0	—	$1,050	—	35d	1	0.23mi
97 Main St Unit 3 Berlin, NH	1.0	1.0	—	$1,000	—	184d	1	0.26mi
69 Willard St Unit 3 Berlin, NH	1.0	1.0	—	$750	—	0d	1	0.35mi
163 Oak St Berlin, NH	1.0	1.0	—	$800	—	184d	1	0.36mi
250 Madison Ave Apt 3 Berlin, NH	2.0	1.0	—	$1,395	—	184d	1	0.37mi
88 High St Berlin, NH	2.0	1.0	—	$1,200	—	34d	1	0.45mi
358 Willard St Berlin, NH	2.0	1.0	1300	$1,290	$0.99	5d	1	0.50mi
387 Standard St Unit 2 Berlin, NH	3.0	1.0	760	$1,700	$2.24	10d	1	0.52mi
590 Goebel St Apt 2 Berlin, NH	3.0	1.0	—	$1,415	—	184d	1	0.57mi
322 High St Berlin, NH	3.0	1.0	—	$1,750	—	12d	1	0.57mi
322 High St Berlin, NH	3.0	1.0	—	$1,750	—	0d	1	0.57mi
437 Willard St Berlin, NH	2.0	1.0	—	$1,355	—	0d	1	0.58mi
437 Willard St Berlin, NH	2.0	1.0	—	$1,355	—	12d	1	0.58mi
437 Willard St #1 Berlin, NH	2.0	1.0	—	$1,350	—	16d	1	0.58mi
437 Willard St #2 Berlin, NH	2.0	1.0	—	$1,350	—	12d	1	0.58mi
437 Willard St #2 Berlin, NH	2.0	1.0	—	$1,350	—	0d	1	0.58mi
614 Champlain St Berlin, NH	2.0	1.0	—	$1,750	—	37d	1	0.61mi
614 Champlain St Berlin, NH	2.0	1.0	—	$1,650	—	10d	1	0.61mi
780 Hutchins St Unit 2 Berlin, NH	2.0	1.0	—	$1,075	—	184d	1	0.64mi
492 Burgess St Unit 1 Berlin, NH	2.0	1.0	—	$1,700	—	10d	1	0.64mi
604 Burgess St Unit 3 Berlin, NH	2.0	1.0	—	$1,100	—	184d	1	0.65mi
604 Burgess St Unit 1 Berlin, NH	2.0	1.0	—	$1,250	—	184d	1	0.65mi
628 Burgess St Berlin, NH	2.0	1.0	—	$1,250	—	10d	1	0.66mi
635 Hillsboro St Unit 1 Berlin, NH	2.0	1.0	—	$1,200	—	2d	1	0.68mi
598 Sullivan St Apt 3 Berlin, NH	3.0	1.0	—	$950	—	184d	1	0.79mi
498 School St Apt 1 Berlin, NH	2.0	1.0	—	$1,200	—	0d	1	0.80mi
653 Cheshire St Berlin, NH	2.0	1.0	—	$1,200	—	9d	1	0.88mi
357 Derrah St Berlin, NH	2.0	1.0	1604	$2,150	$1.34	0d	1	1.04mi
700 Kent St Berlin, NH	3.0	2.0	—	$2,000	—	0d	1	1.27mi
744 Kent St Berlin, NH	3.0	1.0	—	$1,350	—	184d	1	1.28mi
744 Kent St Unit 744 Kent 2 Berlin, NH	3.0	1.0	—	$1,700	—	184d	1	1.28mi
212 Norway St Berlin, NH	3.0	1.0	—	$1,200	—	184d	1	1.35mi

Property features AI

Finance

• Financial info: Property assessed in 2025Taxes listed for 2025 (amounts available in listing records)

Exterior

• Parking: Driveway (type listed as Other)
• Utilities: Public waterPublic sewerNo electric service specifiedInternet availability unknown
• Home design: Gambrel architectural styleExisting structure
• Construction: Built in 1910Wood frame constructionShingle roofUnfinished basement
• Exterior features: Corner lotPublic road frontage

Interior

• Bedrooms: Three-unit property: one 2-bedroom unit and two 3+ bedroom units
• Heating & cooling: No heating specifiedNo cooling specified
• Interior features: Unfinished walkout basement

Listing history 50 events

1. 2026-11-08
   days on market $69,000 Active 210 DOM
2. 2026-11-07
   days on market $69,000 Active 209 DOM
3. 2026-11-06
   days on market $69,000 Active 208 DOM
4. 2026-11-05
   days on market $69,000 Active 207 DOM
5. 2026-11-04
   days on market $69,000 Active 206 DOM
6. 2026-11-02
   days on market $69,000 Active 204 DOM
7. 2026-11-01
   days on market $69,000 Active 203 DOM
8. 2026-10-31
   days on market $69,000 Active 202 DOM
9. 2026-10-31
   days on market $69,000 Active 201 DOM
10. 2026-10-29
    days on market $69,000 Active 200 DOM
11. 2026-10-28
    days on market $69,000 Active 199 DOM
12. 2026-10-27
    days on market $69,000 Active 198 DOM
13. 2026-10-26
    days on market $69,000 Active 197 DOM
14. 2026-10-25
    days on market $69,000 Active 196 DOM
15. 2026-10-24
    days on market $69,000 Active 195 DOM
16. 2026-10-23
    days on market $69,000 Active 194 DOM
17. 2026-10-22
    days on market $69,000 Active 193 DOM
18. 2026-10-21
    days on market $69,000 Active 192 DOM
19. 2026-10-20
    days on market $69,000 Active 191 DOM
20. 2026-10-19
    days on market $69,000 Active 190 DOM
21. 2026-10-18
    days on market $69,000 Active 189 DOM
22. 2026-10-17
    days on market $69,000 Active 188 DOM
23. 2026-10-16
    days on market $69,000 Active 187 DOM
24. 2026-10-15
    days on market $69,000 Active 186 DOM
25. 2026-10-14
    days on market $69,000 Active 185 DOM
26. 2026-10-13
    days on market $69,000 Active 184 DOM
27. 2026-10-12
    days on market $69,000 Active 183 DOM
28. 2026-10-11
    days on market $69,000 Active 182 DOM
29. 2026-10-10
    days on market $69,000 Active 181 DOM
30. 2026-10-09
    days on market $69,000 Active 180 DOM
31. 2026-10-08
    days on market $69,000 Active 179 DOM
32. 2026-10-07
    days on market $69,000 Active 178 DOM
33. 2026-10-06
    days on market $69,000 Active 177 DOM
34. 2026-10-05
    days on market $69,000 Active 176 DOM
35. 2026-10-04
    days on market $69,000 Active 175 DOM
36. 2026-10-03
    days on market $69,000 Active 174 DOM
37. 2026-10-02
    days on market $69,000 Active 173 DOM
38. 2026-10-01
    days on market $69,000 Active 172 DOM
39. 2026-10-01
    price $69,000 Active 171 DOM
40. 2026-09-30
    days on market $75,000 Active 171 DOM
41. 2026-09-29
    days on market $75,000 Active 170 DOM
42. 2026-09-28
    days on market $75,000 Active 169 DOM
43. 2026-09-27
    days on market $75,000 Active 168 DOM
44. 2026-09-26
    days on market $75,000 Active 167 DOM
45. 2026-09-25
    days on market $75,000 Active 166 DOM
46. 2026-09-24
    days on market $75,000 Active 165 DOM
47. 2026-09-23
    days on market $75,000 Active 164 DOM
48. 2026-09-21
    days on market $75,000 Active 162 DOM
49. 2026-09-20
    days on market $75,000 Active 161 DOM
50. 2026-09-19
    days on market $75,000 Active 160 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥88°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: $22,385
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − Depreciation: −$2,007
• Taxable income: $11,551
• Est. tax owed @ 24.0%: −$2,772
• After-tax cash flow: $9,190/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.

Condition & rehab AI · 10 photos

Excellent 100/100 None rehab

This multi-family property has been fully reframed and is ready for you to finish your way. The property is in excellent condition with no visible repairs or maintenance needed. The highest-ROI updates that would raise its resale or rental value include painting and staining the exterior and interior walls, installing new flooring, and upgrading the HVAC system.

Value-add opportunities

• Both Painting and staining the exterior and interior walls — Painting and staining the exterior and interior walls can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Installing new flooring — Installing new flooring can improve the overall appearance and functionality of the property, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the HVAC system — Upgrading the HVAC system can improve the comfort and energy efficiency of the property, making it more attractive to potential buyers and renters. ↑

F Composite school gradezoned avg 28/100

Zoned Schools

Elementary Berlin Elementary School F NH #188/263 Nat'l #24,299/41,679 Middle Berlin Middle School F NH #88/96 Nat'l #11,564/14,009 High Berlin Senior High School F NH #82/90 Nat'l #11,215/17,239

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

C Composite livability gradescore 66/100

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
• County: Coos · 30,912 people
• City population: 9,473
• Population (ZIP): 9,473
• Household income: $43,972
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 16% of renters

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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%

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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%
• Languages at home: 88% English-only · French/Haitian/Cajun 8% Spanish 4%

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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

Property features AI

Finance

• Financial info: Property assessed in 2025Taxes listed for 2025 (amounts available in listing records)

Exterior

• Parking: Driveway (type listed as Other)
• Utilities: Public waterPublic sewerNo electric service specifiedInternet availability unknown
• Home design: Gambrel architectural styleExisting structure
• Construction: Built in 1910Wood frame constructionShingle roofUnfinished basement
• Exterior features: Corner lotPublic road frontage

Interior

• Bedrooms: Three-unit property: one 2-bedroom unit and two 3+ bedroom units
• Heating & cooling: No heating specifiedNo cooling specified
• Interior features: Unfinished walkout basement

Price history

+281.5% since first listed

6 events — show timeline

• 2026-04-12 Listed $95,000 PrimeMLS
• 2006-07-28 Sold (MLS) $30,000 PrimeMLS
• 2006-01-20 Listed $33,500 PrimeMLS
• 2004-04-07 Sold (Public Records) $66,000 Public Records
• 1998-04-03 Sold (MLS) $27,900 PrimeMLS
• 1997-11-25 Listed $24,900 PrimeMLS

Property tax history

+10.4%/yr

Latest (2025): $3,461 · +8.8% YoY. Source: county tax records.