343 Main St · Sandown, NH 03873

$1,200,000

48 bd · 9.0 ba · 5,968 sqft · MultiFamily · 41 Days on market

Built 1986 Good condition 1.00 ac 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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +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 MLS

Fully Entitled 6-Unit Multi-Family | Value-Add | Ready for Rehab Rare opportunity to acquire a pre-approved 6-unit multi-family asset with moderate rehab and strong upside. The unit mix includes one 2-bedroom/1.5 bath, two 2-bedroom/1-bath units, two 1-bedroom/1-bath units, and one large studio, all positioned to achieve full market-rate rents upon completion. Originally built in 1986 as a mixed-use retail and residential property, the asset’s highest and best use has evolved into a fully residential income-producing investment. The property is well-positioned for a streamlined development process, with full architectural plans in place, including demolition and construction schedules, and all town approvals secured—ready for immediate permit pull. A local builder has already provided a rehab estimate and is prepared to begin work. Additional value can be realized through a large unfinished basement and a two-car garage, offering potential for storage or supplemental rental income. The site also provides ample on-site parking to support tenant demand. Situated in the heart of the village within walking distance to Triple Elm Coffee shop, Bruchetti’s Pizza, A and M Sandown Market, Rockingham Rail Trail, Post Office, Library, Town Beach, the historic Sandown Train Depot and the Sandown Meeting House.

Key facts

• 6 unit multi family
• Unfinished basement
• Fully residential

Tags

• 6 UNIT MULTI FAMILY
• FULLY RESIDENTIAL
• IMMEDIATE PERMIT PULL
• UNFINISHED BASEMENT
• TWO CAR GARAGE
• AMPLE ON SITE PARKING

What this means for you Summary

Snapshot

• This is a 1×2bd/1.5ba + 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $1.20M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $713 ($9k/yr) — positive. Per door: $119/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 $1.14M (5.0% below list).
• Recommended offer: $1.14M (5.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Timberlane Regional School District (suburban): math 32% / reading 50% proficiency, ranked #54 of 98 in NH (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 43 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.

Recommended offer $1,140,000 (5.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.95% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 8.8

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: -12.3%
• Equity multiple: 0.56×
• Total profit: $-148,864
• Equity at exit: $178,924

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-70,449
• Equity at exit: $103,754

Cash invested: $336,000 (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 03873

• Home prices YoY: -13.0%
• Active inventory: 43
• Price-to-rent: 52.6×

Monthly cashflow live

• Estimated rent: $11,400 medium
• Mortgage (P&I): −$6,293
• Tax est. 1.5%: −$1,500 /mo · $18,000/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,394
• Net cashflow: $713

Break-even live

Break-even rent $10,497

Max offer price $1,200,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$1,900
▸ 2× units	2	1	$3,800
▸ 2× units	1	1	$3,800
1× unit	1	1.5	$1,900
Total (6 units)			$11,400

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: $300,000
• Closing costs: $36,000
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,200,000 Active 41 DOM
2. 2026-06-17
   days on market $1,200,000 Active 40 DOM
3. 2026-06-16
   days on market $1,200,000 Active 39 DOM
4. 2026-06-15
   days on market $1,200,000 Active 38 DOM
5. 2026-06-13
   days on market $1,200,000 Active 36 DOM
6. 2026-06-09
   days on market $1,200,000 Active 32 DOM
7. 2026-06-08
   days on market $1,200,000 Active 31 DOM
8. 2026-06-07
   days on market $1,200,000 Active 30 DOM
9. 2026-06-04
   days on market $1,200,000 Active 27 DOM
10. 2026-06-03
    days on market $1,200,000 Active 26 DOM
11. 2026-06-02
    days on market $1,200,000 Active 25 DOM
12. 2026-06-01
    days on market $1,200,000 Active 24 DOM
13. 2026-05-31
    days on market $1,200,000 Active 23 DOM
14. 2026-05-08
    listed $1,200,000 Active 1339-char remark

    Show marketing remark (1339 chars)

    Fully Entitled 6-Unit Multi-Family | Value-Add | Ready for Rehab Rare opportunity to acquire a pre-approved 6-unit multi-family asset with moderate rehab and strong upside. The unit mix includes one 2-bedroom/1.5 bath, two 2-bedroom/1-bath units, two 1-bedroom/1-bath units, and one large studio, all positioned to achieve full market-rate rents upon completion. Originally built in 1986 as a mixed-use retail and residential property, the asset’s highest and best use has evolved into a fully residential income-producing investment. The property is well-positioned for a streamlined development process, with full architectural plans in place, including demolition and construction schedules, and all town approvals secured—ready for immediate permit pull. A local builder has already provided a rehab estimate and is prepared to begin work. Additional value can be realized through a large unfinished basement and a two-car garage, offering potential for storage or supplemental rental income. The site also provides ample on-site parking to support tenant demand. Situated in the heart of the village within walking distance to Triple Elm Coffee shop, Bruchetti’s Pizza, A and M Sandown Market, Rockingham Rail Trail, Post Office, Library, Town Beach, the historic Sandown Train Depot and the Sandown Meeting House.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $136,800
• − Mortgage interest: −$67,219
• − Property taxes: −$18,000
• − Insurance: −$6,000
• − Repairs & maintenance: −$10,944
• − Management: −$10,944
• − Depreciation: −$34,909
• Taxable loss: −$11,216
• Est. tax savings @ 24.0%: +$2,692
• After-tax cash flow: $11,249/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 · 14 photos

Good 75/100 Moderate rehab

The property is in good condition with moderate rehab needed. Painting the exterior walls and replacing the kitchen cabinets and bathroom fixtures can significantly increase its resale value.

Repairs flagged

• Minor Kitchen cabinets — The kitchen cabinets appear to be in good condition with no visible damage or wear.
• Minor Bathroom fixtures — The bathroom fixtures appear to be in good condition with no visible damage or wear.
• Minor Exterior paint — The exterior paint appears to be in good condition with no visible damage or wear.

Value-add opportunities

• Resale Paint exterior walls — Painting the exterior walls can improve the curb appeal and make the property more attractive to potential buyers.
• Resale Replace kitchen cabinets — Replacing the kitchen cabinets can improve the functionality and aesthetic appeal of the kitchen, making it more attractive to potential buyers.
• Resale Replace bathroom fixtures — Replacing the bathroom fixtures can improve the functionality and aesthetic appeal of the bathroom, making it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The kitchen cabinets appear to be in good condition with no visible damage or wear.	Minor	$500–3,000
Bathroom fixtures · The bathroom fixtures appear to be in good condition with no visible damage or wear.	Minor	$500–3,000
Exterior paint · The exterior paint appears to be in good condition with no visible damage or wear.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint exterior walls — Painting the exterior walls can improve the curb appeal and make the property more attractive to potential buyers. ↑
• Resale Replace kitchen cabinets — Replacing the kitchen cabinets can improve the functionality and aesthetic appeal of the kitchen, making it more attractive to potential buyers. ↑
• Resale Replace bathroom fixtures — Replacing the bathroom fixtures can improve the functionality and aesthetic appeal of the bathroom, making it more attractive to potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Timberlane Regional School District
• NCES district ID: 3306720
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 50% ▼ -8.00%
• Median HH income: $83,938
• Composite: 38.5/100
• National rank: #4180
• State rank: #54 of 98 in NH

Livability — Sandown

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 6,590

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 (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 15% Romanian 4% Slovak 4%
• Foreign-born: 3% · Canada, China
• Languages at home: 97% English-only · 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: ▼ -48.41%
• Current HPI: 323.202
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-08 Listed $1,200,000 PrimeMLS