Multi-family
712 2Nd Ave · Berlin, NH
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $507 – $941
Heat risk 2/10 · Minimal
- Hot days now (above 88°F)
- 8 days/yr
- Hot days in 30 yrs
- 18 days/yr
Wind risk 3/10 · Minor
- Chance of severe wind over 30 yrs
- 5.0%
Air-quality risk 2/10 · Minimal
- Unhealthy air days now
- 1 days/yr
- Unhealthy air days in 30 yrs
- 1 days/yr
Risk factors via First Street. Map © Google.
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 +15.0/15.0
- 1% rule +10.0/10.0
- DSCR +10.0/10.0
- Appreciation +10.0/10.0
- Condition / age +5.0/5.0
- Livability +3.3/5.0
- Schools +2.8/10.0
- Rent growth +2.5/5.0
$95,000
712 2Nd Ave · Berlin, NH 03570
6 bd · 3.0 ba · 1,596 sqft · MultiFamily
public records
· 118 Days on market
Built 1910
3,920 sqft lot
$60/sqft
· 6% below area
Est $174k · 45% under
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
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
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 6-bed/3.0-bath multifamily listed at $95k. Condition is rated excellent.
Deal economics
- At list price, monthly cash flow is $534 ($6k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($2k rent vs $95k).
- Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
- Cap rate 13.0% vs local median 7.5% 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: 138 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 $10k of equity ($657 loan paydown + $10k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
- By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
Negotiation context
- It's been on market 118 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
- 3 sale attempts since 29y 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 $30k; list at $95k implies a 217% gain — meaningful room to come down on a strong offer.
Risks & watch-outs
- Watch-outs: property tax is 3.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
Recommended offer
$86,450
(9.0% below list)
Questions for the listing agent
- It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
- Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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.
- 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.
- 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
- 1.81% ✓
- Cap rate
- 13.04%
- Cash-on-cash
- 24.09%
- DSCR
- 2.07
- GRM
- 4.6
CMA / ARV
- ARV (median comp)
- $173,950
- List price
- $95,000
- Delta
- -45.39%
- 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%) | 10mo | $125,000 | $74 | 60 |
| 820 Fourth Ave | 0.24mi | 5/4.0 (-1) | 1,910 (+20%) | 5mo | $205,000 | $107 | 50 |
| 39 Gilbert St | 0.09mi | 5/1.5 (-1) | 1,362 (-15%) | 30mo | $80,000 | $59 | 40 |
| 421 Champlain St | 0.60mi | 5/2.0 (-1) | 1,953 (+22%) | 0mo | $90,000 | $46 | 38 |
| 271 Willard St | 0.42mi | 5/1.5 (-1) | 1,923 (+20%) | 18mo | $53,000 | $28 | 29 |
| 2 Noyes St | 0.62mi | 6/2.0 | 1,783 (+12%) | 32mo | $115,000 | $64 | 27 |
| 403 2Nd Ave | 0.51mi | 5/1.0 (-1) | 1,296 (-19%) | 14mo | $110,000 | $85 | 27 |
| 8 Perkins Pl | 0.60mi | 5/1.5 (-1) | 1,989 (+25%) | 30mo | $108,000 | $54 | 16 |
| 56 Cascade St | 1.42mi | 5/2.5 (-1) | 1,954 (+22%) | 27mo | $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
- 42.4%
- Equity multiple
- 4.23×
- Total profit
- $85,882
- Equity at exit
- $85,584
10-year hold
- IRR
- 36.7%
- Equity multiple
- 9.51×
- Total profit
- $226,419
- Equity at exit
- $184,564
Cash invested: $26,600 (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.
Seller's market
Market conditions
within 1.0 mi — comparable homes for sale
Active competition Active MLS
- For sale now
- 0 active · 1 under contract
- Months of supply
- 0.0 mo
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
- 138
- Price-to-rent
- 4.6×
Monthly cashflow live
↻
- Estimated rent
- $1,722 medium interval (Pro) →
- Mortgage (P&I)
- −$498
- Tax from tax record
- −$288 /mo · $3,461/yr
- Insurance
- −$40
- HOA
- −$0
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$362
- Net cashflow
- $534
Break-even live
Break-even rent
$1,046
Max offer price
$95,000
Occupancy floor
64%
Sensitivity live
| Price | -10% $588 | -5% $561 | +0% $534 | +5% $507 | +10% $480 |
|---|---|---|---|---|---|
| Rent | -10% $398 | -5% $466 | +0% $534 | +5% $602 | +10% $670 |
| Rate | -1.0pp $582 | -0.5pp $558 | base $534 | +0.5pp $509 | +1.0pp $484 |
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
- $23,750
- Closing costs
- $2,850
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 12 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 97 Main St Unit 3 Berlin, NH | 1.0 | 1.0 | — | $1,000 | — | 93d | 1 | 0.26mi |
| 163 Oak St Berlin, NH | 1.0 | 1.0 | — | $800 | — | 93d | 1 | 0.36mi |
| 250 Madison Ave Apt 3 Berlin, NH | 2.0 | 1.0 | — | $1,395 | — | 93d | 1 | 0.37mi |
| 590 Goebel St Apt 2 Berlin, NH | 3.0 | 1.0 | — | $1,415 | — | 93d | 1 | 0.57mi |
| 780 Hutchins St Unit 2 Berlin, NH | 2.0 | 1.0 | — | $1,075 | — | 93d | 1 | 0.64mi |
| 604 Burgess St Unit 1 Berlin, NH | 2.0 | 1.0 | — | $1,250 | — | 93d | 1 | 0.65mi |
| 604 Burgess St Unit 3 Berlin, NH | 2.0 | 1.0 | — | $1,100 | — | 93d | 1 | 0.65mi |
| 172 Grafton St Berlin, NH | 2.0 | 1.0 | — | $1,500 | — | 93d | 1 | 0.71mi |
| 598 Sullivan St Apt 3 Berlin, NH | 3.0 | 1.0 | — | $950 | — | 93d | 1 | 0.79mi |
| 744 Kent St Unit 744 Kent 2 Berlin, NH | 3.0 | 1.0 | — | $1,700 | — | 93d | 1 | 1.28mi |
| 744 Kent St Berlin, NH | 3.0 | 1.0 | — | $1,350 | — | 93d | 1 | 1.28mi |
| 212 Norway St Berlin, NH | 3.0 | 1.0 | — | $1,200 | — | 93d | 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
-
2026-08-08days on market $95,000 Active 118 DOM
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2026-08-07days on market $95,000 Active 117 DOM
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2026-08-06days on market $95,000 Active 116 DOM
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2026-08-05days on market $95,000 Active 115 DOM
-
2026-08-04days on market $95,000 Active 114 DOM
-
2026-08-03days on market $95,000 Active 113 DOM
-
2026-07-31days on market $95,000 Active 110 DOM
-
2026-07-30days on market $95,000 Active 109 DOM
-
2026-07-29days on market $95,000 Active 108 DOM
-
2026-07-27days on market $95,000 Active 106 DOM
-
2026-07-25days on market $95,000 Active 104 DOM
-
2026-07-24days on market $95,000 Active 103 DOM
-
2026-07-23days on market $95,000 Active 102 DOM
-
2026-07-22days on market $95,000 Active 101 DOM
-
2026-07-21days on market $95,000 Active 100 DOM
-
2026-07-20days on market $95,000 Active 99 DOM
-
2026-07-18days on market $95,000 Active 97 DOM
-
2026-07-17days on market $95,000 Active 95 DOM
-
2026-07-15days on market $95,000 Active 94 DOM
-
2026-07-14days on market $95,000 Active 93 DOM
-
2026-07-13days on market $95,000 Active 92 DOM
-
2026-07-12days on market $95,000 Active 91 DOM
-
2026-07-12days on market $95,000 Active 90 DOM
-
2026-07-10days on market $95,000 Active 89 DOM
-
2026-07-09days on market $95,000 Active 88 DOM
-
2026-07-08days on market $95,000 Active 86 DOM
-
2026-07-06days on market $95,000 Active 85 DOM
-
2026-07-05days on market $95,000 Active 84 DOM
-
2026-07-05days on market $95,000 Active 83 DOM
-
2026-07-03days on market $95,000 Active 82 DOM
-
2026-07-02days on market $95,000 Active 81 DOM
-
2026-07-01days on market $95,000 Active 80 DOM
-
2026-06-30days on market $95,000 Active 79 DOM
-
2026-06-29days on market $95,000 Active 78 DOM
-
2026-06-28days on market $95,000 Active 77 DOM
-
2026-06-27days on market $95,000 Active 76 DOM
-
2026-06-26days on market $95,000 Active 75 DOM
-
2026-06-22days on market $95,000 Active 71 DOM
-
2026-06-21days on market $95,000 Active 70 DOM
-
2026-06-21days on market $95,000 Active 69 DOM
-
2026-06-18days on market $95,000 Active 67 DOM
-
2026-06-17days on market $95,000 Active 66 DOM
-
2026-06-16days on market $95,000 Active 65 DOM
-
2026-06-15days on market $95,000 Active 64 DOM
-
2026-06-13days on market $95,000 Active 62 DOM
-
2026-06-12days on market $95,000 Active 61 DOM
-
2026-06-09days on market $95,000 Active 58 DOM
-
2026-06-08days on market $95,000 Active 57 DOM
-
2026-06-07days on market $95,000 Active 56 DOM
-
2026-06-07days on market $95,000 Active 55 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
- $3,461 · $288/mo
- Projected year-2 tax
- $3,461 · $288/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 ≥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
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $20,661
- − Mortgage interest
- −$5,321
- − Property taxes
- −$3,461
- − Insurance
- −$475
- − Repairs & maintenance
- −$1,653
- − Management
- −$1,653
- − Depreciation
- −$2,764
- Taxable income
- $5,334
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$1,280
- After-tax cash flow
- $5,128/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
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
- Severe rent burden
- 16% of renters
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%
- Hispanic origin (detail)
- 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
+281.5% since first listed6 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%/yrLatest (2025): $3,461 · +8.8% YoY. Source: county tax records.
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…