44 Elm St · Lancaster, NH 03854

$325,000

3 bd · 2.0 ba · 3,071 sqft · SingleFamily public records · 34 Days on market

Built 1880 0.44 ac lot $106/sqft · 15% below area Est $322k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.0/15.0
• Appreciation +5.6/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

LANCASTER VICTORIAN WITH 3 BEDROOMS, HARDWOOD FLOORS, KITCHEN WITH BREAKFAST BAR, FIREPLACE, SUNROOM, COVERED DECK, AND ATTACHED TWO STORY BARN. LARGE AND INVITING ROOMS. IN-TOWN CORNER LOT DOTTED WITH APPLE TREES AND 2-CAR GARAGE.

Key facts

• Tin ceiling
• Historic downtown
• Mudroom

Tags

• LARGE LEVEL CORNER LOT
• EASY ACCESS TO LOCAL SHOPS
• HISTORIC DOWNTOWN
• HARDWOOD FLOORS
• TIN CEILING
• MUDROOM

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable internet available
• Home design: Cape-style home; Existing structure; Faces unknown
• Construction: Built in 1880; Wood frame construction; Asphalt shingle roof
• Exterior features: Corner lot; Level lot; Dirt driveway; Public road frontage (284 ft) — on the corner of Elm Street and Williams Street

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Hot air heating
• Interior features: Seven total rooms; Full, unfinished basement with interior access

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $315k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#61 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, health & safety F.
• White Mountain Regional School District (rural): math 26% / reading 42% proficiency, ranked #80 of 98 in NH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lancaster Elementary School (math 22% / reading 37%, grade F, #201 of 263 statewide, top 82%, 351 students, 42% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 4 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 $6k of equity ($2k loan paydown + $4k appreciation (1.2% 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 (1.2% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y ago; this cycle's ask has dropped $24k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $180k; list at $325k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $315,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.33%
• DSCR: 1.73
• GRM: 6.0

CMA / ARV

• ARV (median comp): $321,606
• List price: $325,000
• Delta: 1.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
60 Bunker Hill St	0.47mi	4/3.0 (+1)	3,093 (+1%)	10mo	$115,000	$37	60
44 Middle St	0.34mi	4/2.0 (+1)	2,867 (-7%)	13mo	$379,000	$132	57
36 Prospect St	0.22mi	4/1.5 (+1)	2,623 (-15%)	17mo	$310,000	$118	44
90 Bunker Hill St	0.58mi	4/2.0 (+1)	2,625 (-14%)	1mo	$400,000	$152	43
75 Portland St	0.56mi	4/3.0 (+1)	2,954 (-4%)	22mo	$529,000	$179	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 1.97×
• Total profit: $88,184
• Equity at exit: $114,293

10-year hold

• IRR: 21.8%
• Equity multiple: 3.68×
• Total profit: $243,684
• Equity at exit: $154,504

Cash invested: $91,000 (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 03854

• Home prices YoY: 0.3%
• Active inventory: 4
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $4,481 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$462 /mo · $5,548/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$941
• Net cashflow: $1,238

Break-even live

Break-even rent $2,914

Max offer price $325,000

Occupancy floor 67%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $325,000 Active 34 DOM
2. 2026-06-17
   days on market $325,000 Active 33 DOM
3. 2026-06-16
   days on market $325,000 Active 32 DOM
4. 2026-06-15
   days on market $325,000 Active 31 DOM
5. 2026-06-13
   days on market $325,000 Active 29 DOM
6. 2026-06-12
   pricedays on market $325,000 Active 28 DOM
7. 2026-06-09
   days on market $349,000 Active 25 DOM
8. 2026-06-08
   days on market $349,000 Active 24 DOM
9. 2026-06-07
   days on market $349,000 Active 23 DOM
10. 2026-06-07
    days on market $349,000 Active 22 DOM
11. 2026-06-02
    days on market $349,000 Active 18 DOM
12. 2026-06-01
    days on market $349,000 Active 17 DOM
13. 2026-05-31
    days on market $349,000 Active 16 DOM
14. 2026-05-15
    listed $349,000 Active 1215-char remark
15. 2025-09-23
    price $350,000
16. 2005-06-06
    soldstatus $180,000

    Show marketing remark (231 chars)

    LANCASTER VICTORIAN WITH 3 BEDROOMS, HARDWOOD FLOORS, KITCHEN WITH BREAKFAST BAR, FIREPLACE, SUNROOM, COVERED DECK, AND ATTACHED TWO STORY BARN. LARGE AND INVITING ROOMS. IN-TOWN CORNER LOT DOTTED WITH APPLE TREES AND 2-CAR GARAGE.

17. 2005-06-06
    soldstatus $180,000

    Show marketing remark (231 chars)

    LANCASTER VICTORIAN WITH 3 BEDROOMS, HARDWOOD FLOORS, KITCHEN WITH BREAKFAST BAR, FIREPLACE, SUNROOM, COVERED DECK, AND ATTACHED TWO STORY BARN. LARGE AND INVITING ROOMS. IN-TOWN CORNER LOT DOTTED WITH APPLE TREES AND 2-CAR GARAGE.

18. 2005-05-11
    historical

    Show marketing remark (231 chars)

    LANCASTER VICTORIAN WITH 3 BEDROOMS, HARDWOOD FLOORS, KITCHEN WITH BREAKFAST BAR, FIREPLACE, SUNROOM, COVERED DECK, AND ATTACHED TWO STORY BARN. LARGE AND INVITING ROOMS. IN-TOWN CORNER LOT DOTTED WITH APPLE TREES AND 2-CAR GARAGE.

19. 2004-07-29
    listed $189,900

    Show marketing remark (231 chars)

    LANCASTER VICTORIAN WITH 3 BEDROOMS, HARDWOOD FLOORS, KITCHEN WITH BREAKFAST BAR, FIREPLACE, SUNROOM, COVERED DECK, AND ATTACHED TWO STORY BARN. LARGE AND INVITING ROOMS. IN-TOWN CORNER LOT DOTTED WITH APPLE TREES AND 2-CAR GARAGE.

ⓘ 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: $5,548 · $462/mo
• Projected year-2 tax: $6,316 · $526/mo
• Expected delta: +$768/yr (+$64/mo · 13.9%)

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

Taxation est. · year 1

• Rental income: $53,777
• − Mortgage interest: −$18,205
• − Property taxes: −$5,548
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,302
• − Management: −$4,302
• − Depreciation: −$9,455
• Taxable income: $10,340
• Est. tax owed @ 24.0%: −$2,482
• After-tax cash flow: $12,377/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: White Mountain Regional School District
• NCES district ID: 3307050
• Math proficiency: 26% ▼ -18.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $47,902
• Composite: 29.26/100
• National rank: #6563
• State rank: #80 of 98 in NH

Livability — Lancaster

• Score: 67/100
• State rank: #61
• US rank: #10534

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, NH
• Population (ZIP): 948

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Lithuanian 9% Slovak 4% Serbian 4%
• Foreign-born: 1%
• Languages at home: 97% English-only · Other Indo-European 2% French/Haitian/Cajun 1%

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: ▲ 1.20%
• Current HPI: 369.7087
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+71.1% since first listed

7 events — show timeline

• 2026-06-10 Price Changed $325,000 PrimeMLS
• 2026-05-15 Listed $349,000 PrimeMLS
• 2025-09-23 Price Changed $350,000 PrimeMLS
• 2005-06-06 Sold (Public Records) $180,000 Public Records
• 2005-06-06 Sold (MLS) $180,000 PrimeMLS
• 2005-05-11 Delisted — PrimeMLS
• 2004-07-29 Listed $189,900 PrimeMLS

Property tax history

+3.2%/yr

Latest (2025): $5,548 · +9.9% YoY. Source: county tax records.