66 Spruce St · Berlin, NH 03570

$169,500

3 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 112 Days on market

Built 1890 4,791 sqft lot $145/sqft · 12% below area Est $193k · 12% under

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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 +16.3/30.0
• ARV discount +13.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.1/10.0
• 1% rule +4.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Welcome home to this charming and beautifully maintained 6-room, 2-bedroom residence offering comfort, and character. With major recent upgrades including a new roof, new siding, and all new windows along wit updates in the kitchen and bathroom, this home provides peace of mind along with move-in-ready appeal. The first floor features a spacious living room and formal dining room with hardwood floors that create a warm and inviting atmosphere perfect for both everyday living and entertaining. The updated kitchen offers brand-new lower cabinets and all new appliances, blending modern convenience with classic charm. A convenient first-floor laundry room adds functionality to the thoughtful layout. The full bathroom on the main level has been updated with fresh, modern finishes. Upstairs, you’ll find two comfortable bedrooms filled with natural light, along with hardwood flooring throughout most of the home, adding timeless character and durability. Relax on the welcoming front porch or unwind on the rear porch overlooking the backyard — ideal for gardening, pets, or outdoor enjoyment. Additional features include a one-car garage that can serve as valuable storage space. With its combination of major exterior updates, interior improvements, charm, and practicality, this home is truly move-in ready and waiting for its next owner.

Key facts

• New siding
• Updated kitchen
• New roof

Tags

• NEW ROOF
• NEW SIDING
• NEW WINDOWS
• UPDATED KITCHEN
• FIRST FLOOR LAUNDRY ROOM
• UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (3.5% below list).
• Recommended offer: $154k (9.0% below list) — sets the bar for market timing.

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: schools D, amenities F, commute 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.
• Market conditions: 100 active listings in the ZIP; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $47k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $88k; list at $170k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,245 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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 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: 0.96% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.11
• GRM: 8.6

CMA / ARV

• ARV (median comp): $193,047
• List price: $169,500
• Delta: -12.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
433 Hillside Ave	0.08mi	3/1.5	1,209 (+3%)	9mo	$135,000	$112	81
104 Summer St	0.11mi	3/1.5	1,276 (+9%)	3mo	$220,000	$172	75
84 Summer St	0.10mi	2/2.0 (-1)	1,124 (-4%)	8mo	$110,000	$98	73
86 Spruce St	0.03mi	4/1.0 (+1)	1,279 (+9%)	8mo	$169,000	$132	72
119 Park St	0.40mi	3/1.5	1,197 (+2%)	8mo	$212,900	$178	69
324 Church St	0.24mi	2/1.0 (-1)	1,272 (+9%)	6mo	$130,000	$102	64
474 Madison Ave	0.56mi	3/1.0	1,120 (-4%)	4mo	$237,500	$212	63
479 Burgess St	0.69mi	3/1.5	1,219 (+4%)	2mo	$136,000	$112	57
122 Sessions St	0.64mi	4/2.0 (+1)	1,176 (+0%)	5mo	$170,000	$145	56
324 Coos St	0.72mi	3/1.0	1,088 (-7%)	10mo	$179,890	$165	46
531 Willard St	0.59mi	3/1.0	1,316 (+12%)	7mo	$220,000	$167	46
263 Sweden St	0.75mi	3/1.0	1,013 (-13%)	9mo	$180,000	$178	35

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: 26.0%
• Equity multiple: 3.07×
• Total profit: $98,304
• Equity at exit: $152,699

10-year hold

• IRR: 22.8%
• Equity multiple: 7.00×
• Total profit: $284,893
• Equity at exit: $329,301

Cash invested: $47,460 (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 03570

• Home prices YoY: 14.3%
• Active inventory: 100
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,635 medium
• Mortgage (P&I): −$889
• Tax from tax record: −$239 /mo · $2,866/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $93

Break-even live

Break-even rent $1,517

Max offer price $169,500

Occupancy floor 89%

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: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $169,500 Active 112 DOM
2. 2026-06-17
   days on market $169,500 Active 111 DOM
3. 2026-06-16
   days on market $169,500 Active 110 DOM
4. 2026-06-15
   days on market $169,500 Active 109 DOM
5. 2026-06-13
   days on market $169,500 Active 107 DOM
6. 2026-06-12
   days on market $169,500 Active 106 DOM
7. 2026-06-09
   days on market $169,500 Active 103 DOM
8. 2026-06-08
   days on market $169,500 Active 102 DOM
9. 2026-06-07
   days on market $169,500 Active 101 DOM
10. 2026-06-07
    days on market $169,500 Active 100 DOM
11. 2026-06-04
    days on market $169,500 Active 97 DOM
12. 2026-06-02
    days on market $169,500 Active 96 DOM
13. 2026-06-01
    days on market $169,500 Active 95 DOM
14. 2026-05-31
    days on market $169,500 Active 94 DOM
15. 2026-05-06
    status Active 1360-char remark

    Show marketing remark (1360 chars)

    Welcome home to this charming and beautifully maintained 6-room, 2-bedroom residence offering comfort, and character. With major recent upgrades including a new roof, new siding, and all new windows along wit updates in the kitchen and bathroom, this home provides peace of mind along with move-in-ready appeal. The first floor features a spacious living room and formal dining room with hardwood floors that create a warm and inviting atmosphere perfect for both everyday living and entertaining. The updated kitchen offers brand-new lower cabinets and all new appliances, blending modern convenience with classic charm. A convenient first-floor laundry room adds functionality to the thoughtful layout. The full bathroom on the main level has been updated with fresh, modern finishes. Upstairs, you’ll find two comfortable bedrooms filled with natural light, along with hardwood flooring throughout most of the home, adding timeless character and durability. Relax on the welcoming front porch or unwind on the rear porch overlooking the backyard — ideal for gardening, pets, or outdoor enjoyment. Additional features include a one-car garage that can serve as valuable storage space. With its combination of major exterior updates, interior improvements, charm, and practicality, this home is truly move-in ready and waiting for its next owner.

16. 2026-04-09
    historical Active with Contract 1360-char remark

    Show marketing remark (1360 chars)

    Welcome home to this charming and beautifully maintained 6-room, 2-bedroom residence offering comfort, and character. With major recent upgrades including a new roof, new siding, and all new windows along wit updates in the kitchen and bathroom, this home provides peace of mind along with move-in-ready appeal. The first floor features a spacious living room and formal dining room with hardwood floors that create a warm and inviting atmosphere perfect for both everyday living and entertaining. The updated kitchen offers brand-new lower cabinets and all new appliances, blending modern convenience with classic charm. A convenient first-floor laundry room adds functionality to the thoughtful layout. The full bathroom on the main level has been updated with fresh, modern finishes. Upstairs, you’ll find two comfortable bedrooms filled with natural light, along with hardwood flooring throughout most of the home, adding timeless character and durability. Relax on the welcoming front porch or unwind on the rear porch overlooking the backyard — ideal for gardening, pets, or outdoor enjoyment. Additional features include a one-car garage that can serve as valuable storage space. With its combination of major exterior updates, interior improvements, charm, and practicality, this home is truly move-in ready and waiting for its next owner.

17. 2026-03-31
    price $169,500 1360-char remark

    Show marketing remark (1360 chars)

    Welcome home to this charming and beautifully maintained 6-room, 2-bedroom residence offering comfort, and character. With major recent upgrades including a new roof, new siding, and all new windows along wit updates in the kitchen and bathroom, this home provides peace of mind along with move-in-ready appeal. The first floor features a spacious living room and formal dining room with hardwood floors that create a warm and inviting atmosphere perfect for both everyday living and entertaining. The updated kitchen offers brand-new lower cabinets and all new appliances, blending modern convenience with classic charm. A convenient first-floor laundry room adds functionality to the thoughtful layout. The full bathroom on the main level has been updated with fresh, modern finishes. Upstairs, you’ll find two comfortable bedrooms filled with natural light, along with hardwood flooring throughout most of the home, adding timeless character and durability. Relax on the welcoming front porch or unwind on the rear porch overlooking the backyard — ideal for gardening, pets, or outdoor enjoyment. Additional features include a one-car garage that can serve as valuable storage space. With its combination of major exterior updates, interior improvements, charm, and practicality, this home is truly move-in ready and waiting for its next owner.

18. 2026-02-26
    listed $174,900 Active 1360-char remark

    Show marketing remark (1360 chars)

    Welcome home to this charming and beautifully maintained 6-room, 2-bedroom residence offering comfort, and character. With major recent upgrades including a new roof, new siding, and all new windows along wit updates in the kitchen and bathroom, this home provides peace of mind along with move-in-ready appeal. The first floor features a spacious living room and formal dining room with hardwood floors that create a warm and inviting atmosphere perfect for both everyday living and entertaining. The updated kitchen offers brand-new lower cabinets and all new appliances, blending modern convenience with classic charm. A convenient first-floor laundry room adds functionality to the thoughtful layout. The full bathroom on the main level has been updated with fresh, modern finishes. Upstairs, you’ll find two comfortable bedrooms filled with natural light, along with hardwood flooring throughout most of the home, adding timeless character and durability. Relax on the welcoming front porch or unwind on the rear porch overlooking the backyard — ideal for gardening, pets, or outdoor enjoyment. Additional features include a one-car garage that can serve as valuable storage space. With its combination of major exterior updates, interior improvements, charm, and practicality, this home is truly move-in ready and waiting for its next owner.

19. 2025-09-15
    soldstatus $88,000 Closed 641-char remark

    Show marketing remark (641 chars)

    Charming 3-Bedroom Home with Great Potential This 3-bedroom, 1-bath home offers a wonderful opportunity for someone ready to put in a little TLC and make it their own. Featuring a welcoming front porch, spacious living areas, and a one-car garage, this property has great bones and plenty of character. The home sits on a generous yard with space for gardening, entertaining, or simply enjoying the outdoors. Whether you’re a first-time buyer looking to build equity or an investor seeking your next project, this property has endless potential to shine with some updates and care. Bring your vision and make this house your next home!

20. 2025-08-29
    status Pending 641-char remark

    Show marketing remark (641 chars)

    Charming 3-Bedroom Home with Great Potential This 3-bedroom, 1-bath home offers a wonderful opportunity for someone ready to put in a little TLC and make it their own. Featuring a welcoming front porch, spacious living areas, and a one-car garage, this property has great bones and plenty of character. The home sits on a generous yard with space for gardening, entertaining, or simply enjoying the outdoors. Whether you’re a first-time buyer looking to build equity or an investor seeking your next project, this property has endless potential to shine with some updates and care. Bring your vision and make this house your next home!

21. 2025-08-26
    listed $109,000 Active 641-char remark

    Show marketing remark (641 chars)

    Charming 3-Bedroom Home with Great Potential This 3-bedroom, 1-bath home offers a wonderful opportunity for someone ready to put in a little TLC and make it their own. Featuring a welcoming front porch, spacious living areas, and a one-car garage, this property has great bones and plenty of character. The home sits on a generous yard with space for gardening, entertaining, or simply enjoying the outdoors. Whether you’re a first-time buyer looking to build equity or an investor seeking your next project, this property has endless potential to shine with some updates and care. Bring your vision and make this house your next home!

ⓘ 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: $2,866 · $239/mo
• Projected year-2 tax: $3,281 · $273/mo
• Expected delta: +$415/yr (+$35/mo · 14.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥85°F today · 17 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: $19,621
• − Mortgage interest: −$9,495
• − Property taxes: −$2,866
• − Insurance: −$848
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$4,931
• Taxable loss: −$1,657
• Est. tax savings @ 24.0%: +$398
• After-tax cash flow: $1,518/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: 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

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
• City population: 9,473
• Population (ZIP): 9,473

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%
• 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

+55.5% since first listed

7 events — show timeline

• 2026-05-06 Relisted — PrimeMLS
• 2026-04-09 Contingent — PrimeMLS
• 2026-03-31 Price Changed $169,500 PrimeMLS
• 2026-02-26 Listed $174,900 PrimeMLS
• 2025-09-15 Sold (MLS) $88,000 PrimeMLS
• 2025-08-29 Pending — PrimeMLS
• 2025-08-26 Listed $109,000 PrimeMLS

Property tax history

+2.1%/yr

Latest (2025): $2,866 · +8.8% YoY. Source: county tax records.