27 Carroll St · Pittsfield, NH 03263

$250,000

1 bd · 5.0 ba · 8,300 sqft · MultiFamily · 36 Days on market

Built 1960 0.58 ac lot $30/sqft · 56% below area

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

DEALS! 3 parcel package for just under 250,000. The 3 parcels includes a massive 8300+ sf building and a separately deeded buildable . 28 acre parcel(combined lot 5 & 6). The building once functioned as a popular pizza restaurant, which still has all the expensive restaurant equipment still in place including multiple fridges, pizza ovens, burners, etc. The first floor includes a residential owners unit in the back, and also a separate commercial unit, perfect for another retail/restaurant or office use. The 2nd & third floor is in need of work but offers ~5000 square feet of space, perfect for ~9+/- apartments, bringing the total potential unit count over 12.Parking is required for the potential unit conversions, where the adjacent lot offers approximately 30 parking spaces. Alternatively, the second lot is buildable and meets the required lot size and setback requirements set by the town. This property requires a lot of work, and buyers are responsible for conducting their own due diligence regarding all building requirements, permitted uses, restaurant equipment and potential expansion opportunities. This property and parcels can be purchased as a package with MLS#5088125. PRIVATE SHOWINGS friday 4-6PM & Saturday 1-3PM.

Key facts

• Buildable parcel
• Adjacent lot
• 0.58 acre lot

Tags

• BUILDABLE PARCEL
• RESIDENTIAL OWNERS UNIT
• SEPARATE COMMERCIAL UNIT
• POTENTIAL UNIT CONVERSIONS
• ADJACENT LOT
• APPROXIMATELY PARKING SPACES

What this means for you Summary

Snapshot

• This is a 1-bed/5.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $12k ($139k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 61.8% vs local median 1.8% in Pittsfield — 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 66/100 on livability (#72 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Pittsfield School District (rural): math 20% / reading 36% proficiency, ranked #87 of 98 in NH (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 32 active listings in the ZIP; 380 units permitted in Merrimack County in 2024 (28 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Merrimack County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1960 — 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 F-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 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: 6.73% ✓
• Cap rate: 61.80%
• Cash-on-cash: 198.25%
• DSCR: 9.82
• GRM: 1.2

CMA / ARV

• ARV (median comp): $563,358
• List price: $250,000
• Delta: -55.62%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.47×
• Total profit: $872,982
• Equity at exit: $225,220

10-year hold

• IRR: —
• Equity multiple: 29.46×
• Total profit: $1,992,058
• Equity at exit: $485,695

Cash invested: $70,000 (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 03263

• Home prices YoY: 17.6%
• Active inventory: 32
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $16,826 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,533
• Net cashflow: $11,565

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 26%

Sensitivity live

Price	-10% $11,738	-5% $11,651	+0% $11,565	+5% $11,478	+10% $11,392
Rent	-10% $10,236	-5% $10,900	+0% $11,565	+5% $12,229	+10% $12,894
Rate	-1.0pp $11,691	-0.5pp $11,628	base $11,565	+0.5pp $11,500	+1.0pp $11,434

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$16,824
Total (12 units)			$16,826

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $250,000 Active 36 DOM
2. 2026-06-18
   days on market $250,000 Active 34 DOM
3. 2026-06-17
   days on market $250,000 Active 33 DOM
4. 2026-06-16
   days on market $250,000 Active 32 DOM
5. 2026-06-15
   days on market $250,000 Active 31 DOM
6. 2026-06-13
   days on market $250,000 Active 29 DOM
7. 2026-06-12
   days on market $250,000 Active 28 DOM
8. 2026-06-09
   days on market $250,000 Active 25 DOM
9. 2026-06-08
   days on market $250,000 Active 24 DOM
10. 2026-06-07
    days on market $250,000 Active 23 DOM
11. 2026-06-07
    days on market $250,000 Active 22 DOM
12. 2026-06-04
    days on market $250,000 Active 19 DOM
13. 2026-06-02
    days on market $250,000 Active 18 DOM
14. 2026-06-01
    days on market $250,000 Active 17 DOM
15. 2026-05-31
    days on market $250,000 Active 16 DOM
16. 2026-05-15
    listed $250,000 Active 1258-char remark

    Show marketing remark (1258 chars)

    DEALS! 3 parcel package for just under 250,000. The 3 parcels includes a massive 8300+ sf building and a separately deeded buildable . 28 acre parcel(combined lot 5 & 6). The building once functioned as a popular pizza restaurant, which still has all the expensive restaurant equipment still in place including multiple fridges, pizza ovens, burners, etc. The first floor includes a residential owners unit in the back, and also a separate commercial unit, perfect for another retail/restaurant or office use. The 2nd & third floor is in need of work but offers ~5000 square feet of space, perfect for ~9+/- apartments, bringing the total potential unit count over 12.Parking is required for the potential unit conversions, where the adjacent lot offers approximately 30 parking spaces. Alternatively, the second lot is buildable and meets the required lot size and setback requirements set by the town. This property requires a lot of work, and buyers are responsible for conducting their own due diligence regarding all building requirements, permitted uses, restaurant equipment and potential expansion opportunities. This property and parcels can be purchased as a package with MLS#5088125. PRIVATE SHOWINGS friday 4-6PM & Saturday 1-3PM.

17. 2026-05-12
    historical $250,000 1258-char remark

    Show marketing remark (1258 chars)

    DEALS! 3 parcel package for just under 250,000. The 3 parcels includes a massive 8300+ sf building and a separately deeded buildable . 28 acre parcel(combined lot 5 & 6). The building once functioned as a popular pizza restaurant, which still has all the expensive restaurant equipment still in place including multiple fridges, pizza ovens, burners, etc. The first floor includes a residential owners unit in the back, and also a separate commercial unit, perfect for another retail/restaurant or office use. The 2nd & third floor is in need of work but offers ~5000 square feet of space, perfect for ~9+/- apartments, bringing the total potential unit count over 12.Parking is required for the potential unit conversions, where the adjacent lot offers approximately 30 parking spaces. Alternatively, the second lot is buildable and meets the required lot size and setback requirements set by the town. This property requires a lot of work, and buyers are responsible for conducting their own due diligence regarding all building requirements, permitted uses, restaurant equipment and potential expansion opportunities. This property and parcels can be purchased as a package with MLS#5088125. PRIVATE SHOWINGS friday 4-6PM & Saturday 1-3PM.

18. 2026-04-30
    listed $250,000 Active 1258-char remark

    Show marketing remark (1258 chars)

    DEALS! 3 parcel package for just under 250,000. The 3 parcels includes a massive 8300+ sf building and a separately deeded buildable . 28 acre parcel(combined lot 5 & 6). The building once functioned as a popular pizza restaurant, which still has all the expensive restaurant equipment still in place including multiple fridges, pizza ovens, burners, etc. The first floor includes a residential owners unit in the back, and also a separate commercial unit, perfect for another retail/restaurant or office use. The 2nd & third floor is in need of work but offers ~5000 square feet of space, perfect for ~9+/- apartments, bringing the total potential unit count over 12.Parking is required for the potential unit conversions, where the adjacent lot offers approximately 30 parking spaces. Alternatively, the second lot is buildable and meets the required lot size and setback requirements set by the town. This property requires a lot of work, and buyers are responsible for conducting their own due diligence regarding all building requirements, permitted uses, restaurant equipment and potential expansion opportunities. This property and parcels can be purchased as a package with MLS#5088125. PRIVATE SHOWINGS friday 4-6PM & Saturday 1-3PM.

ⓘ 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: $201,912
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$16,153
• − Management: −$16,153
• − Depreciation: −$7,273
• Taxable income: $143,329
• Est. tax owed @ 24.0%: −$34,399
• After-tax cash flow: $104,379/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: Pittsfield School District
• NCES district ID: 3305730
• Math proficiency: 20% ▼ -15.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $52,344
• Composite: 24.71/100
• National rank: #7610
• State rank: #87 of 98 in NH

Livability — Pittsfield

• Score: 66/100
• State rank: #72
• US rank: #12388

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsfield, NH
• Population (ZIP): 4,094

Population outlook (Merrimack County) Hauer SSP2

• Today (2025): 151,287 people
• By 2030: 151,867 · +0.4%
• By 2040: 149,927 · -0.9%
• By 2050: 144,081 · -4.8%
• By 2075: 132,018 · -12.7%
• By 2100: 111,733 · -26.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 15% Slovak 3% German 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Merrimack

• 2024 margin: Lean D (+5.2) · D 52.1% · R 46.9% · Other 1.0%
• 2008→2024 swing: -8.7pp toward R · 2008: 13.9pp · 2024: 5.2pp
• All cycles: 2024: D+5.2 2020: D+9.8 2016: D+3.1 2012: D+12.7 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 89.96%
• Current HPI: 601.9142
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

3 events — show timeline

• 2026-05-15 Listed $250,000 PrimeMLS
• 2026-05-12 Coming Soon $250,000 PrimeMLS
• 2026-04-30 Listed $250,000 PrimeMLS