616 Portland St #68 · Rochester, NH 03867

$190,000

2 bd · 1.0 ba · 901 sqft · Condo public records · 4 Days on market

Built 1973 $360/mo HOA · 17% of rent

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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 +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TREMENDOUS VALUE! FIRST TIME OFFERED! 2 BEDROOM TOWNHOUSE SITUATED ON 17 ACRE PARK-LIKE SETTING. ON SITE LAUNDRY, PLENTY OF PARKING, GAS HEAT. THIS IS AN UPGRADED UNIT. PHOTOS REPRESENT SIMILAR UNITS WITH UPGRADES. WHY PAY RENT

Key facts

• Assigned parking
• $360 HOA
• Built 1973

Tags

• LOW MAINTENANCE LIFESTYLE
• EASY ACCESS TO MAJOR ROUTES
• RECENTLY UPDATED BATHROOM
• ASSOCIATION AMENITIES
• ASSIGNED PARKING
• ADDITIONAL GUEST SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-16 ($-188/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (1.5% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 3.3% in Rochester — 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 84/100 on livability (#8 in NH, #698 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities C-.
• Rochester School District (suburban): math 27% / reading 35% proficiency, ranked #83 of 98 in NH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chamberlain Street School (math 24% / reading 27%, grade F, #227 of 263 statewide, top 86%, 298 students, 45% FRL); Rochester Middle School (math 18% / reading 27%, grade F, #85 of 96 statewide, top 89%, 847 students, 37% FRL); Spaulding High School (math 30% / reading 49%, grade F, #63 of 90 statewide, top 74%, 1,301 students, 32% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 109 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).
• This rent runs 32% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y ago 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 $113k; list at $190k implies a 68% gain — meaningful room to come down on a strong offer.

Recommended offer $187,231 (1.5% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.09% ✓
• Cap rate: 6.19%
• Cash-on-cash: -0.35%
• DSCR: 0.98
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.22% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-28,970
• Equity at exit: $28,330

10-year hold

• IRR: -3.9%
• Equity multiple: 0.72×
• Total profit: $-14,700
• Equity at exit: $16,428

Cash invested: $53,200 (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 03867

• Home prices YoY: -22.0%
• Rents YoY: 4.2%
• Active inventory: 109
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,073 high
• Mortgage (P&I): −$996
• Tax from tax record: −$218 /mo · $2,615/yr
• Insurance: −$79
• HOA: −$360
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-16

Break-even live

Break-even rent $2,093

Max offer price $187,231

Occupancy floor 96%

Sensitivity live

Price	-10% $92	-5% $38	+0% $-16	+5% $-69	+10% $-123
Rent	-10% $-179	-5% $-98	+0% $-16	+5% $66	+10% $148
Rate	-1.0pp $80	-0.5pp $33	base $-16	+0.5pp $-65	+1.0pp $-115

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
616 Portland St #69 Rochester, NH	2.0	1.0	856	$2,250	$2.63	26d	1	0.01mi
52 Woodland Grn Rochester, NH	2.0	1.5	1048	$2,350	$2.24	6d	1	0.78mi
59 Franklin Hts Rochester, NH	1.0	1.0	904	$1,900	$2.10	19d	1	0.93mi
59 Franklin Hts Rochester, NH	1.0	1.0	904	$1,900	$2.10	1d	1	0.93mi
6 Mill St Unit A Rochester, NH	1.0	1.0	700	$1,200	$1.71	26d	1	1.29mi
9 Elm Ct Rochester, NH	2.0	1.0	1100	$2,000	$1.82	0d	1	1.40mi
18 Winter St Unit A Rochester, NH	1.0	1.0	800	$1,500	$1.88	1d	1	1.47mi

HOA detail condo

• Monthly dues: $360 · $4,320/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-04-22
   status Pending
2. 2026-04-18
   listed $190,000 Active
3. 2026-04-17
   historical $190,000
4. 2026-04-16
   listed $190,000 Active
5. 2006-06-16
   soldstatus $113,400 227-char remark

   Show marketing remark (227 chars)

   TREMENDOUS VALUE! FIRST TIME OFFERED! 2 BEDROOM TOWNHOUSE SITUATED ON 17 ACRE PARK-LIKE SETTING. ON SITE LAUNDRY, PLENTY OF PARKING, GAS HEAT. THIS IS AN UPGRADED UNIT. PHOTOS REPRESENT SIMILAR UNITS WITH UPGRADES. WHY PAY RENT

6. 2006-05-26
   historical 227-char remark

   Show marketing remark (227 chars)

   TREMENDOUS VALUE! FIRST TIME OFFERED! 2 BEDROOM TOWNHOUSE SITUATED ON 17 ACRE PARK-LIKE SETTING. ON SITE LAUNDRY, PLENTY OF PARKING, GAS HEAT. THIS IS AN UPGRADED UNIT. PHOTOS REPRESENT SIMILAR UNITS WITH UPGRADES. WHY PAY RENT

7. 2006-05-25
   listed $113,400 227-char remark

   Show marketing remark (227 chars)

   TREMENDOUS VALUE! FIRST TIME OFFERED! 2 BEDROOM TOWNHOUSE SITUATED ON 17 ACRE PARK-LIKE SETTING. ON SITE LAUNDRY, PLENTY OF PARKING, GAS HEAT. THIS IS AN UPGRADED UNIT. PHOTOS REPRESENT SIMILAR UNITS WITH UPGRADES. WHY PAY RENT

ⓘ 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: $2,615 · $218/mo
• Projected year-2 tax: $3,378 · $282/mo
• Expected delta: +$764/yr (+$64/mo · 29.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $24,878
• − Mortgage interest: −$10,643
• − Property taxes: −$2,615
• − Insurance: −$950
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − HOA: −$4,320
• − Depreciation: −$5,527
• Taxable loss: −$3,158
• Est. tax savings @ 24.0%: +$758
• After-tax cash flow: $570/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: Rochester School District
• NCES district ID: 3305940
• Math proficiency: 27% ▼ -15.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $51,080
• Composite: 27.11/100
• National rank: #7039
• State rank: #83 of 98 in NH

Livability — Rochester

• Score: 84/100
• State rank: #8
• US rank: #698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, NH
• County: Strafford County · 75,181 people
• City population: 22,732
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,732
• Household income: $78,674
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 663.0

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 12% Romanian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.34%
• Current HPI: 379.5755
• Rent YoY: ▲ 4.22%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+67.5% since first listed

7 events — show timeline

• 2026-04-22 Pending — PrimeMLS
• 2026-04-18 Listed $190,000 PrimeMLS
• 2026-04-17 Coming Soon $190,000 PrimeMLS
• 2026-04-16 Listed $190,000 PrimeMLS
• 2006-06-16 Sold (MLS) $113,400 PrimeMLS
• 2006-05-26 Delisted — PrimeMLS
• 2006-05-25 Listed $113,400 PrimeMLS

Property tax history

+4.8%/yr

Latest (2025): $2,615 · +16.2% YoY. Source: county tax records.