9 Central St #34 · Newmarket, NH 03857

$1,295,000

12 bd · 6.0 ba · 5,353 sqft · MultiFamily · 1 Days on market

Built 1900 2,178 sqft lot

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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).

• Cash flow +14.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

PRIME LOCATION - Recently renovated 6 family property conveniently located in the heart of vibrant downtown Newmarket. The property features 6 fully rented apartments with separate utilities (Heat, HW, Electric). Major capital improvements completed in recent years include 6 new high efficiency combination boiler heat and hot water systems, all new electrical services, wiring, plumbing, and all new in unit fixtures. Each unit also had new kitchen cabinets, appliances, and all bathrooms fully renovated. The property is clad in low maintenance vinyl siding with efficient vinyl windows and a recent roof. Low expense property with extensive recent improvements. This is an excellent opportunity

Key facts

• Separate utilities
• New plumbing
• Recently renovated

Tags

• RECENTLY RENOVATED
• FULLY RENTED APARTMENTS
• SEPARATE UTILITIES
• MAJOR CAPITAL IMPROVEMENTS
• NEW ELECTRICAL SERVICES
• NEW PLUMBING

Property features AI

Finance

• Other: Property identified as Lot/Unit #34
• Financial info: Assessment and tax details available but not included per instructions
• HOA & community: No HOA information provided

Exterior

• Parking: No driveway
• Security: No security features provided
• Utilities: Public sewer; Public water; 200 Amp electric service; Cable available; Cable internet available; Curbside municipal trash collection
• Home design: Multi-family property; Existing construction; Tan/Green exterior color
• Construction: Vinyl siding; Shingle roof (architectural/asphalt); Built in 1900
• Exterior features: Near shopping; Located in a neighborhood; Public road frontage (50 feet)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Six 2-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Six full bathrooms (one per unit)
• Heating & cooling: Gas vented heating; Hot water heating; No central cooling
• Interior features: Basement present with interior access; Unfinished basement; Multi-family building with six residential units; Annual leases for all units
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.29M.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive. Per door: $35/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.16M (10.5% below list).
• Recommended offer: $1.16M (10.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.2% in Newmarket — 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 86/100 on livability (#6 in NH, #368 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Newmarket School District (suburban): math 39% / reading 59% proficiency, ranked #37 of 98 in NH (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Newmarket Elementary School (math 36% / reading 54%, grade D-, #125 of 263 statewide, top 47%, 472 students, 15% FRL); Newmarket Jr.-Sr. High (Elem) (math 37% / reading 60%, grade C-, #28 of 96 statewide, top 28%, 223 students, 19% FRL); Newmarket Jr.-Sr. High School (math 62% / reading 72%, grade B, #12 of 90 statewide, top 13%, 270 students, 16% FRL) — zoned schools at 17% FRL track the district average.
• Market conditions: 37 active listings in the ZIP; solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• At $11,592/mo this rent would consume 138% of the median local household income ($101k/yr) (locally 414% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $39k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,159,200 (10.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.90% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.69%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-196,409
• Equity at exit: $193,089

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-153,242
• Equity at exit: $111,968

Cash invested: $362,600 (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.

Methodology + full state rankings →

ZIP-level market 03857

• Home prices YoY: -10.7%
• Active inventory: 37
• Price-to-rent: 55.9×

Monthly cashflow live

• Estimated rent: $11,592 high
• Mortgage (P&I): −$6,791
• Tax est. 1.5%: −$1,619 /mo · $19,425/yr
• Insurance: −$540
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,434
• Net cashflow: $208

Break-even live

Break-even rent $11,328

Max offer price $1,295,000

Occupancy floor 93%

Sensitivity live

Price	-10% $1,103	-5% $656	+0% $208	+5% $-239	+10% $-687
Rent	-10% $-708	-5% $-250	+0% $208	+5% $666	+10% $1,124
Rate	-1.0pp $860	-0.5pp $538	base $208	+0.5pp $-127	+1.0pp $-469

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$11,592
Total (6 units)			$11,592

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: $323,750
• Closing costs: $38,850
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-25
   listed $1,295,000 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $139,104
• − Mortgage interest: −$72,540
• − Property taxes: −$19,425
• − Insurance: −$6,475
• − Repairs & maintenance: −$11,128
• − Management: −$11,128
• − Depreciation: −$37,673
• Taxable loss: −$19,266
• Est. tax savings @ 24.0%: +$4,624
• After-tax cash flow: $7,122/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: Newmarket School District
• NCES district ID: 3305280
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $63,488
• Composite: 43.17/100
• National rank: #3070
• State rank: #37 of 98 in NH

Livability — Newmarket

• Score: 86/100
• State rank: #6
• US rank: #368

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newmarket, NH
• County: Rockingham County · 137,526 people
• City population: 9,463
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 9,463
• Household income: $100,845
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 414.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Slovak 8% Lithuanian 7% Romanian 5%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.33%
• Current HPI: 379.8373
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-25 Listed $1,295,000 PrimeMLS