17-19 Dartmouth St · Exeter, NH 03833

$719,000

6 bd · 2.0 ba · 2,240 sqft · MultiFamily public records · 179 Days on market

Built 1900 6,098 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 +13.6/30.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +4.5/5.0
• DSCR +4.1/10.0
• 1% rule +3.5/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Fantastic investment or owner-occupied opportunity in the heart of Exeter! This side-by-side townhouse-style duplex offers 1,120 sq/ft of living space per unit, each with 3 bedrooms. Fully renovated in 2012, the property was taken down to the studs and updated with all new electrical, plumbing, roof, vinyl siding, insulation, and sheetrock. Both kitchens and bathrooms were beautifully remodeled, and each unit features a mix of laminate flooring and carpeting. Separate wall-mounted hot water boilers and on-demand hot water heaters, along with individual electric service, metered water and sewer provide efficiency and convenience for each side. Nestled on a quiet dead-end street yet just step

Key facts

• Fully renovated
• New plumbing
• New electrical

Tags

• SIDE BY SIDE TOWNHOUSE
• FULLY RENOVATED
• NEW ELECTRICAL
• NEW PLUMBING
• NEW ROOF
• VINYL SIDING

Property features AI

Finance

• Financial info: Property is a 2-unit multi-family with annual lease terms; Each unit approximately 1,120 sq. ft.

Exterior

• Parking: Gravel driveway
• Utilities: Public sewer; Public water; 100 Amp electric service; Natural gas fuel; Cable internet available; Electric and fuel service by Unitil; Curbside trash, municipal recycling; tenant trash arrangement
• Home design: Duplex / townhouse architectural style; Existing construction; Approximately 2,240 finished sq. ft. total
• Construction: Vinyl siding; Shingle (architectural) roof; Built in 1900
• Exterior features: Landscaped, level lot; In-town location near shopping, public transportation, paths, golf course and country club, hospital, and schools; Easements on property; Gravel driveway with right-of-way access

Interior

• Kitchen: Dishwasher; Gas range / stove; Refrigerator; Microwave (Unit 2)
• Bedrooms: Each unit has 3 bedrooms (Unit 1: 3, Unit 2: 3)
• Flooring: Carpet; Laminate
• Bathrooms: Each unit has 2 full bathrooms (Unit 1: 2, Unit 2: 2)
• Heating & cooling: Natural gas heating; Baseboard heating; Hot water heating; Wall units; No central air conditioning
• Interior features: Basement with interior access; Dirt floor basement; Townhouse style units
• Laundry & utility: Laundry hookup (Unit 1); On-demand natural gas tankless water heater (owned)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $719k.

Deal economics

• At list price, monthly cash flow is $44 ($533/yr) — positive. Per door: $22/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 $611k (15.0% below list).
• Recommended offer: $611k (15.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.8% in Exeter — 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 91/100 on livability (#1 in NH, #59 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Exeter School District (suburban): math 46% / reading 57% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Main Street School (408 students, 14% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 143 active listings in the ZIP; high-income renter base; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• At $6,112/mo this rent would consume 61% of the median local household income ($119k/yr) (locally 485% 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 $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($633k) 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.

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 $611,200 (15.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 15% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. 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: 0.85% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 9.8

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: -15.9%
• Equity multiple: 0.44×
• Total profit: $-113,703
• Equity at exit: $107,205

10-year hold

• IRR: -7.5%
• Equity multiple: 0.53×
• Total profit: $-95,458
• Equity at exit: $62,166

Cash invested: $201,320 (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 03833

• Active inventory: 143
• Price-to-rent: 19.6×

Monthly cashflow live

• Estimated rent: $6,112 high
• Mortgage (P&I): −$3,771
• Tax from tax record: −$714 /mo · $8,568/yr
• Insurance: −$300
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,284
• Net cashflow: $44

Break-even live

Break-even rent $6,056

Max offer price $719,000

Occupancy floor 94%

Sensitivity live

Price	-10% $451	-5% $248	+0% $44	+5% $-159	+10% $-363
Rent	-10% $-438	-5% $-197	+0% $44	+5% $286	+10% $527
Rate	-1.0pp $406	-0.5pp $227	base $44	+0.5pp $-142	+1.0pp $-331

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,112
Total (2 units)			$6,112

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: $179,750
• Closing costs: $21,570
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $719,000 Active 179 DOM
2. 2026-06-18
   days on market $719,000 Active 176 DOM
3. 2026-06-17
   days on market $719,000 Active 175 DOM
4. 2026-06-16
   days on market $719,000 Active 174 DOM
5. 2026-06-15
   days on market $719,000 Active 173 DOM
6. 2026-06-13
   days on market $719,000 Active 171 DOM
7. 2026-06-13
   days on market $719,000 Active 170 DOM
8. 2026-06-09
   days on market $719,000 Active 167 DOM
9. 2026-06-08
   days on market $719,000 Active 166 DOM
10. 2026-06-07
    days on market $719,000 Active 165 DOM
11. 2026-06-04
    days on market $719,000 Active 162 DOM
12. 2026-06-03
    days on market $719,000 Active 161 DOM
13. 2026-06-02
    days on market $719,000 Active 160 DOM
14. 2026-06-01
    days on market $719,000 Active 159 DOM
15. 2026-05-31
    days on market $719,000 Active 158 DOM
16. 2026-04-03
    status Active
17. 2026-01-01
    historical
18. 2025-09-23
    listed $719,000 Active

ⓘ 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: $8,568 · $714/mo
• Projected year-2 tax: $12,121 · $1,010/mo
• Expected delta: +$3,553/yr (+$296/mo · 41.5%)

ⓘ 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 5/10 Major 7 d/yr ≥96°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: $73,344
• − Mortgage interest: −$40,275
• − Property taxes: −$8,568
• − Insurance: −$3,595
• − Repairs & maintenance: −$5,868
• − Management: −$5,868
• − Depreciation: −$20,916
• Taxable loss: −$11,746
• Est. tax savings @ 24.0%: +$2,819
• After-tax cash flow: $3,352/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: Exeter School District
• NCES district ID: 3302970
• Math proficiency: 46% ▼ -21.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $69,970
• Composite: 45.9/100
• National rank: #2549
• State rank: #32 of 98 in NH

Livability — Exeter

• Score: 91/100
• State rank: #1
• US rank: #59

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, NH
• County: Rockingham County · 137,526 people
• City population: 22,817
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,817
• Household income: $119,393
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 485.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Slovak 5% Romanian 5%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 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: ▼ -202.07%
• Current HPI: 288.0139
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

3 events — show timeline

• 2026-04-03 Relisted — PrimeMLS
• 2026-01-01 Delisted — PrimeMLS
• 2025-09-23 Listed $719,000 PrimeMLS

Property tax history

+4.1%/yr

Latest (2025): $8,568 · +5.5% YoY. Source: county tax records.