1457 Upper City Rd · Pittsfield, NH 03263

$300,000

3 bd · 2.0 ba · 1,768 sqft · SingleFamily public records · 36 Days on market

Built 1720 2.00 ac lot $170/sqft · 37% below area Est $422k · 29% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.7/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.0/10.0

Listing remarks MLS

Fantastic farm property in need of rehab! Beautiful location, all fields and surrounding farms. Cash buyers only, please. House is late 1700's and needs major updating, but can be lived in while you work on it. Home has functioning heating system, electrical, plumbing etc. Attached barn is in good shape, but there is a large poultry barn on the property that is well on it's way down. If you are looking for a project in a great location, this home may be for you! Agents, please see non-public remarks.

Key facts

• 2 acre lot
• Garage
• Built 1720

Property features AI

Finance

• Other: Sale includes additional buildings such as barn and outbuildings

Exterior

• Parking: 1-car garage
• Utilities: Private well; Private sewer; On-site gas; Eversource electric with circuit breaker panel; Cable internet available; Fuel service by Davis
• Home design: Antique Cape/Farmhouse style; White exterior
• Construction: Originally built in 1720; Wood siding; Metal and asphalt shingle roofing
• Exterior features: 10-acre lot in a rural, country/farm setting with fields and pasture; Suitable for horses/animals; Level terrain; Dirt driveway; Paved public road frontage (approx. 376 ft)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heat; Wood stove
• Interior features: Eight total rooms; Unfinished basement with bulkhead and interior stair access

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-476 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (28.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (30.9% below list).
• Recommended offer: $207k (30.9% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 1.8% in Pittsfield — 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 (#72 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Pittsfield School District (rural): math 20% / reading 36% proficiency, ranked #87 of 98 in NH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Pittsfield Elementary School (math 22% / reading 37%, grade F, #201 of 263 statewide, top 82%, 219 students, 44% FRL); Pittsfield Middle School (math 17% / reading 32%, grade F, #83 of 96 statewide, top 87%, 139 students, 43% FRL); Pittsfield High School (math 50% / reading 50%, grade D, #37 of 90 statewide, top 49%, 159 students, 35% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: 33 active listings in the ZIP; 380 units permitted in Merrimack County in 2024 (28 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Merrimack County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; list at $300k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1720 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $207,421 (30.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1720 — 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 F-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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.69% ✗
• Cap rate: 4.39%
• Cash-on-cash: -6.80%
• DSCR: 0.70
• GRM: 12.1

CMA / ARV

• ARV (median comp): $421,815
• List price: $300,000
• Delta: -28.88%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.59×
• Total profit: $133,148
• Equity at exit: $270,264

10-year hold

• IRR: 17.9%
• Equity multiple: 5.95×
• Total profit: $416,035
• Equity at exit: $582,834

Cash invested: $84,000 (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 03263

• Home prices YoY: 17.6%
• Active inventory: 33
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,074 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$416 /mo · $4,993/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $-476

Break-even live

Break-even rent $2,676

Max offer price $215,967

Occupancy floor —

Sensitivity live

Price	-10% $-306	-5% $-391	+0% $-476	+5% $-561	+10% $-646
Rent	-10% $-640	-5% $-558	+0% $-476	+5% $-394	+10% $-312
Rate	-1.0pp $-325	-0.5pp $-399	base $-476	+0.5pp $-553	+1.0pp $-633

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-12
   statusdays on market $300,000 Pending 36 DOM
2. 2026-06-09
   days on market $300,000 Active with Contract 33 DOM
3. 2026-06-08
   days on market $300,000 Active with Contract 32 DOM
4. 2026-06-07
   days on market $300,000 Active with Contract 31 DOM
5. 2026-06-07
   days on market $300,000 Active with Contract 30 DOM
6. 2026-06-04
   days on market $300,000 Active with Contract 27 DOM
7. 2026-06-02
   days on market $300,000 Active with Contract 26 DOM
8. 2026-06-01
   days on market $300,000 Active with Contract 25 DOM
9. 2026-05-31
   days on market $300,000 Active with Contract 24 DOM
10. 2026-05-07
    listed $325,000 Active 2004-char remark
11. 2025-08-07
    price $329,999
12. 2025-07-10
    price $339,999
13. 2017-10-16
    soldstatus $85,600 Closed

    Show marketing remark (505 chars)

    Fantastic farm property in need of rehab! Beautiful location, all fields and surrounding farms. Cash buyers only, please. House is late 1700's and needs major updating, but can be lived in while you work on it. Home has functioning heating system, electrical, plumbing etc. Attached barn is in good shape, but there is a large poultry barn on the property that is well on it's way down. If you are looking for a project in a great location, this home may be for you! Agents, please see non-public remarks.

14. 2017-09-26
    status Pending

    Show marketing remark (505 chars)

    Fantastic farm property in need of rehab! Beautiful location, all fields and surrounding farms. Cash buyers only, please. House is late 1700's and needs major updating, but can be lived in while you work on it. Home has functioning heating system, electrical, plumbing etc. Attached barn is in good shape, but there is a large poultry barn on the property that is well on it's way down. If you are looking for a project in a great location, this home may be for you! Agents, please see non-public remarks.

15. 2017-09-26
    price $85,600

    Show marketing remark (505 chars)

    Fantastic farm property in need of rehab! Beautiful location, all fields and surrounding farms. Cash buyers only, please. House is late 1700's and needs major updating, but can be lived in while you work on it. Home has functioning heating system, electrical, plumbing etc. Attached barn is in good shape, but there is a large poultry barn on the property that is well on it's way down. If you are looking for a project in a great location, this home may be for you! Agents, please see non-public remarks.

16. 2017-09-22
    listed $95,000 Active

    Show marketing remark (505 chars)

    Fantastic farm property in need of rehab! Beautiful location, all fields and surrounding farms. Cash buyers only, please. House is late 1700's and needs major updating, but can be lived in while you work on it. Home has functioning heating system, electrical, plumbing etc. Attached barn is in good shape, but there is a large poultry barn on the property that is well on it's way down. If you are looking for a project in a great location, this home may be for you! Agents, please see non-public remarks.

17. 2017-06-16
    soldstatus $85,600 Closed
18. 2017-05-19
    status Pending
19. 2017-05-16
    listed $79,900 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: $4,993 · $416/mo
• Projected year-2 tax: $5,766 · $481/mo
• Expected delta: +$774/yr (+$64/mo · 15.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $24,891
• − Mortgage interest: −$16,805
• − Property taxes: −$4,993
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,991
• − Management: −$1,991
• − Depreciation: −$8,727
• Taxable loss: −$11,117
• Est. tax savings @ 24.0%: +$2,668
• After-tax cash flow: $-3,040/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: Pittsfield School District
• NCES district ID: 3305730
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $52,344
• Composite: 24.71/100
• National rank: #7610
• State rank: #87 of 98 in NH

Livability — Pittsfield

• Score: 66/100
• State rank: #72
• US rank: #12388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,094

Population outlook (Merrimack County) Hauer SSP2

• Today (2025): 151,287 people
• By 2030: 151,867 · +0.4%
• By 2040: 149,927 · -0.9%
• By 2050: 144,081 · -4.8%
• By 2075: 132,018 · -12.7%
• By 2100: 111,733 · -26.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 15% Slovak 3% German 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Merrimack

• 2024 margin: Lean D (+5.2) · D 52.1% · R 46.9% · Other 1.0%
• 2008→2024 swing: -8.7pp toward R · 2008: 13.9pp · 2024: 5.2pp
• All cycles: 2024: D+5.2 2020: D+9.8 2016: D+3.1 2012: D+12.7 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 89.96%
• Current HPI: 601.9142
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+275.5% since first listed

13 events — show timeline

• 2026-06-12 Pending — PrimeMLS
• 2026-05-23 Contingent — PrimeMLS
• 2026-05-20 Price Changed $300,000 PrimeMLS
• 2026-05-07 Listed $325,000 PrimeMLS
• 2025-08-07 Price Changed $329,999 PrimeMLS
• 2025-07-10 Price Changed $339,999 PrimeMLS
• 2017-10-16 Sold (MLS) $85,600 PrimeMLS
• 2017-09-26 Pending — PrimeMLS
• 2017-09-26 Price Changed $85,600 PrimeMLS
• 2017-09-22 Listed $95,000 PrimeMLS
• 2017-06-16 Sold (MLS) $85,600 PrimeMLS
• 2017-05-19 Pending — PrimeMLS
• 2017-05-16 Listed $79,900 PrimeMLS

Property tax history

+2.9%/yr

Latest (2025): $4,993 · +1.7% YoY. Source: county tax records.