48 Cooper Memorial Dr #405 · Lincoln, NH 03251

$489,000

2 bd · 2.0 ba · 1,170 sqft · Condo public records · 372 Days on market

Built 1986 $418/sqft · 23% above area Est $398k · 23% over $700/mo HOA · 4% of rent

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Why this score? — see what drove the B- 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 +6.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

The perfect set up for owner use and short term rentals. This building is within walking distance to the South Peak Ski Slopes at Loon Mountain, and has direct River frontage on the property. The location is an easy stroll to all of the town's hot spots, and entertainment options. Each Condo features a separate lock - off studio with access for the common hall way as well as a connecting door to the main condo unit. Now throw in an indoor pool, hot tub and Great room to gather with friends and other condo owners. Great Location and wonderful access to recreation and Night-life.

Key facts

• Hot tub
• Great room
• Indoor pool

Tags

• WALKING DISTANCE TO SKI SLOPES
• DIRECT RIVER FRONTAGE
• INDOOR POOL
• HOT TUB
• SEPARATE LOCK OFF STUDIO
• GREAT ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $489k.

Deal economics

• At list price, monthly cash flow is $9k ($110k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $489k).
• Recommended offer: $430k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.7% vs local median 4.9% in Lincoln — 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 68/100 on livability (#57 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A-, housing A-; Watch: health & safety C-, schools D+, amenities F.
• Lincoln-Woodstock School District (rural): math 40% / reading 40% proficiency, ranked #140 of 171 in NH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($3k loan paydown + $11k appreciation (2.2% local appreciation)).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $137k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 372 days — a 12% lower offer ($430k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $31k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $370k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $430,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 372 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 3.32% ✓
• Cap rate: 28.69%
• Cash-on-cash: 79.98%
• DSCR: 4.56
• GRM: 2.5

CMA / ARV

• ARV (median comp): $397,673
• List price: $489,000
• Delta: 22.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

2.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 83.9%
• Equity multiple: 5.53×
• Total profit: $620,076
• Equity at exit: $198,067

10-year hold

• IRR: 83.9%
• Equity multiple: 11.37×
• Total profit: $1,419,858
• Equity at exit: $289,262

Cash invested: $136,920 (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 03251

• Home prices YoY: 0.4%
• Active inventory: 114
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $16,213 medium
• Mortgage (P&I): −$2,564
• Tax from tax record: −$214 /mo · $2,566/yr
• Insurance: −$204
• HOA: −$700
• Vacancy / Maint / Mgmt: −$3,405
• Net cashflow: $9,126

Break-even live

Break-even rent $4,661

Max offer price $489,000

Occupancy floor 39%

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Cooper Memorial Dr #203 Lincoln, NH	1.0	2.0	800	$1,600	$2.00	43d	1	0.02mi
51 Pollard Rd Unit 4 Lincoln, NH	2.0	2.0	1000	$2,250	$2.25	43d	1	0.54mi
51 Pollard Rd Lincoln, NH	2.0	2.0	1000	$15,000	$15.00	43d	1	0.54mi
15 Winter Way #4 Lincoln, NH	3.0	2.5	1443	$18,000	$12.47	43d	1	0.76mi

HOA detail condo

• Monthly dues: $700 · $8,400/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $489,000 Active 372 DOM
2. 2026-06-17
   days on market $489,000 Active 371 DOM
3. 2026-06-16
   days on market $489,000 Active 370 DOM
4. 2026-06-15
   days on market $489,000 Active 369 DOM
5. 2026-06-13
   days on market $489,000 Active 367 DOM
6. 2026-06-12
   days on market $489,000 Active 366 DOM
7. 2026-06-09
   days on market $489,000 Active 363 DOM
8. 2026-06-08
   days on market $489,000 Active 362 DOM
9. 2026-06-07
   days on market $489,000 Active 361 DOM
10. 2026-06-07
    days on market $489,000 Active 360 DOM
11. 2026-06-04
    days on market $489,000 Active 357 DOM
12. 2026-06-02
    days on market $489,000 Active 356 DOM
13. 2026-06-01
    days on market $489,000 Active 355 DOM
14. 2026-05-31
    days on market $489,000 Active 354 DOM
15. 2026-03-20
    price $489,000 584-char remark

    Show marketing remark (584 chars)

    The perfect set up for owner use and short term rentals. This building is within walking distance to the South Peak Ski Slopes at Loon Mountain, and has direct River frontage on the property. The location is an easy stroll to all of the town's hot spots, and entertainment options. Each Condo features a separate lock - off studio with access for the common hall way as well as a connecting door to the main condo unit. Now throw in an indoor pool, hot tub and Great room to gather with friends and other condo owners. Great Location and wonderful access to recreation and Night-life.

16. 2025-07-18
    price $489,900 584-char remark

    Show marketing remark (584 chars)

    The perfect set up for owner use and short term rentals. This building is within walking distance to the South Peak Ski Slopes at Loon Mountain, and has direct River frontage on the property. The location is an easy stroll to all of the town's hot spots, and entertainment options. Each Condo features a separate lock - off studio with access for the common hall way as well as a connecting door to the main condo unit. Now throw in an indoor pool, hot tub and Great room to gather with friends and other condo owners. Great Location and wonderful access to recreation and Night-life.

17. 2025-06-11
    listed $519,900 Active 584-char remark

    Show marketing remark (584 chars)

    The perfect set up for owner use and short term rentals. This building is within walking distance to the South Peak Ski Slopes at Loon Mountain, and has direct River frontage on the property. The location is an easy stroll to all of the town's hot spots, and entertainment options. Each Condo features a separate lock - off studio with access for the common hall way as well as a connecting door to the main condo unit. Now throw in an indoor pool, hot tub and Great room to gather with friends and other condo owners. Great Location and wonderful access to recreation and Night-life.

18. 2022-12-02
    soldstatus $370,000 Closed 798-char remark

    Show marketing remark (798 chars)

    Top Floor Penthouse end Unit, excellent mountain views. Rivergreen Features Direct Water Frontage on the Pemigewasset River, this unit has been tastefully decorated, and a new New Walk-in Shower. The Location offers ski back access from Loon Mountain's South Peak Slopes. This resort offers an in-town location allowing owners to walk to all the areas shopping, and Dinning options. The Unit comes with a lock off hotel room allowing separate rental options, or guest quarters when you have visitors. You can't beat this location, or the indoor amenities (Pool, Exercise center, Hot Tub, Screened Gazebo, Shuttle service to the ski area. .. and more). Condo Fee covers all the amenities, plus Hot Water , Cable TV, Internet Service , and Basic land line phone. Owners may have a pet at this resort.

19. 2022-05-14
    status Pending 798-char remark

    Show marketing remark (798 chars)

    Top Floor Penthouse end Unit, excellent mountain views. Rivergreen Features Direct Water Frontage on the Pemigewasset River, this unit has been tastefully decorated, and a new New Walk-in Shower. The Location offers ski back access from Loon Mountain's South Peak Slopes. This resort offers an in-town location allowing owners to walk to all the areas shopping, and Dinning options. The Unit comes with a lock off hotel room allowing separate rental options, or guest quarters when you have visitors. You can't beat this location, or the indoor amenities (Pool, Exercise center, Hot Tub, Screened Gazebo, Shuttle service to the ski area. .. and more). Condo Fee covers all the amenities, plus Hot Water , Cable TV, Internet Service , and Basic land line phone. Owners may have a pet at this resort.

20. 2022-05-10
    listed $375,000 Active 798-char remark

    Show marketing remark (798 chars)

    Top Floor Penthouse end Unit, excellent mountain views. Rivergreen Features Direct Water Frontage on the Pemigewasset River, this unit has been tastefully decorated, and a new New Walk-in Shower. The Location offers ski back access from Loon Mountain's South Peak Slopes. This resort offers an in-town location allowing owners to walk to all the areas shopping, and Dinning options. The Unit comes with a lock off hotel room allowing separate rental options, or guest quarters when you have visitors. You can't beat this location, or the indoor amenities (Pool, Exercise center, Hot Tub, Screened Gazebo, Shuttle service to the ski area. .. and more). Condo Fee covers all the amenities, plus Hot Water , Cable TV, Internet Service , and Basic land line phone. Owners may have a pet at this resort.

ⓘ 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: $2,566 · $214/mo
• Projected year-2 tax: $6,613 · $551/mo
• Expected delta: +$4,047/yr (+$337/mo · 157.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $194,551
• − Mortgage interest: −$27,392
• − Property taxes: −$2,566
• − Insurance: −$2,445
• − Repairs & maintenance: −$15,564
• − Management: −$15,564
• − HOA: −$8,400
• − Depreciation: −$14,225
• Taxable income: $108,395
• Est. tax owed @ 24.0%: −$26,015
• After-tax cash flow: $83,497/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: Lincoln-Woodstock School District
• NCES district ID: 3304260
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $45,324
• Composite: 36.47/100
• National rank: #9328
• State rank: #140 of 171 in NH

Livability — Lincoln

• Score: 68/100
• State rank: #57
• US rank: #9736

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, NH
• Population (ZIP): 1,484

Population outlook (Grafton County) Hauer SSP2

• Today (2025): 88,798 people
• By 2030: 87,131 · -1.9%
• By 2040: 82,000 · -7.7%
• By 2050: 77,064 · -13.2%
• By 2075: 68,769 · -22.6%
• By 2100: 61,631 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 12% Black 1%
• Common ancestry: Lithuanian 12% Slovak 6% Russian 3%
• Foreign-born: 12% · China, Canada, Vietnam
• Languages at home: 87% English-only · Chinese 10% French/Haitian/Cajun 1% Vietnamese 1%

Political lean MEDSL · Grafton

• 2024 margin: D (+19.9) · D 59.4% · R 39.4% · Other 1.2%
• 2008→2024 swing: -7.8pp toward R · 2008: 27.7pp · 2024: 19.9pp
• All cycles: 2024: D+19.9 2020: D+24.6 2016: D+19.0 2012: D+23.8 2008: D+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.19%
• Current HPI: 531.2395
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+30.4% since first listed

6 events — show timeline

• 2026-03-20 Price Changed $489,000 PrimeMLS
• 2025-07-18 Price Changed $489,900 PrimeMLS
• 2025-06-11 Listed $519,900 PrimeMLS
• 2022-12-02 Sold (MLS) $370,000 PrimeMLS
• 2022-05-14 Pending — PrimeMLS
• 2022-05-10 Listed $375,000 PrimeMLS

Property tax history

+4.8%/yr

Latest (2024): $2,566 · +0.0% YoY. Source: county tax records.