24 Argonne St · Berlin, NH 03570

$179,000

2 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 161 Days on market

Built 1952 10,018 sqft lot $151/sqft · at area comps Est $180k · 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.8/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Many updates throughout this home, including a new roof and an updated kitchen and bathroom. The property offers bedrooms and 1 full bath on the first floor, with 2 more large bedrooms on the second floor. Features include a spacious two-car garage and a quiet street location. A boat currently on the property will remain with the sale.

Key facts

• New siding
• Updated kitchen
• 0.23 acre lot

Tags

• NEW SIDING
• UPDATED KITCHEN
• QUIET STREET LOCATION
• BOAT REMAINS WITH SALE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $871 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 7.1% in Berlin — 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 (#67 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: schools D, amenities F, commute F.
• Berlin School District (town): math 24% / reading 30% proficiency, ranked #91 of 98 in NH (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 100 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $179k implies a 258% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.56% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.86%
• DSCR: 1.93
• GRM: 5.3

CMA / ARV

• ARV (median comp): $180,285
• List price: $179,000
• Delta: -0.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
80 Maynesboro St	0.06mi	3/1.0 (+1)	1,248 (+5%)	9mo	$225,000	$180	76
106 Pershing Ave	0.22mi	3/1.0 (+1)	1,248 (+5%)	2mo	$255,000	$204	75
1816 Hutchins St	0.12mi	2/2.0	1,288 (+8%)	5mo	$167,900	$130	72
16 Rheims St	0.15mi	3/2.0 (+1)	1,129 (-5%)	12mo	$210,000	$186	66
24 Haven Ave	0.59mi	3/1.0 (+1)	1,225 (+3%)	1mo	$249,900	$204	61
12 11Th St	0.42mi	3/1.5 (+1)	1,276 (+7%)	2mo	$105,000	$82	60
404 Norway St	0.40mi	1/1.0 (-1)	1,144 (-4%)	12mo	$168,500	$147	60
47 Haven Ave	0.65mi	3/1.5 (+1)	1,232 (+4%)	3mo	$205,000	$166	54
191 Norway St	0.39mi	2/1.5	1,020 (-14%)	10mo	$250,000	$245	48
263 Sweden St	0.43mi	3/1.0 (+1)	1,013 (-15%)	9mo	$180,000	$178	42
152 Howard St	0.70mi	3/1.5 (+1)	1,107 (-7%)	9mo	$270,000	$244	41
40 12th St	0.67mi	3/1.5 (+1)	1,363 (+15%)	1mo	$230,000	$169	36

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

Projected returns pro-forma

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

5-year hold

• IRR: 39.9%
• Equity multiple: 4.05×
• Total profit: $153,077
• Equity at exit: $161,257

10-year hold

• IRR: 34.4%
• Equity multiple: 9.13×
• Total profit: $407,367
• Equity at exit: $347,758

Cash invested: $50,120 (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 03570

• Home prices YoY: 14.3%
• Active inventory: 100
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$328 /mo · $3,931/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $871

Break-even live

Break-even rent $1,697

Max offer price $179,000

Occupancy floor 64%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1878 Riverside Dr Berlin, NH	2.0	1.0	1396	$2,800	$2.01	43d	1	0.87mi

Listing history 32 events

1. 2026-06-18
   remarks 409-char remark
2. 2026-06-18
   price $179,000 Active 161 DOM
3. 2026-06-18
   days on market $189,000 Active 161 DOM
4. 2026-06-17
   days on market $189,000 Active 160 DOM
5. 2026-06-16
   days on market $189,000 Active 159 DOM
6. 2026-06-15
   days on market $189,000 Active 158 DOM
7. 2026-06-13
   days on market $189,000 Active 156 DOM
8. 2026-06-12
   days on market $189,000 Active 155 DOM
9. 2026-06-09
   days on market $189,000 Active 152 DOM
10. 2026-06-08
    days on market $189,000 Active 151 DOM
11. 2026-06-07
    days on market $189,000 Active 150 DOM
12. 2026-06-07
    days on market $189,000 Active 149 DOM
13. 2026-06-04
    days on market $189,000 Active 146 DOM
14. 2026-06-02
    days on market $189,000 Active 145 DOM
15. 2026-06-01
    days on market $189,000 Active 144 DOM
16. 2026-05-31
    days on market $189,000 Active 143 DOM
17. 2026-01-27
    status Active 337-char remark

    Show marketing remark (337 chars)

    Many updates throughout this home, including a new roof and an updated kitchen and bathroom. The property offers bedrooms and 1 full bath on the first floor, with 2 more large bedrooms on the second floor. Features include a spacious two-car garage and a quiet street location. A boat currently on the property will remain with the sale.

18. 2026-01-16
    historical Active with Contract 337-char remark

    Show marketing remark (337 chars)

    Many updates throughout this home, including a new roof and an updated kitchen and bathroom. The property offers bedrooms and 1 full bath on the first floor, with 2 more large bedrooms on the second floor. Features include a spacious two-car garage and a quiet street location. A boat currently on the property will remain with the sale.

19. 2026-01-08
    listed $189,000 Active 337-char remark

    Show marketing remark (337 chars)

    Many updates throughout this home, including a new roof and an updated kitchen and bathroom. The property offers bedrooms and 1 full bath on the first floor, with 2 more large bedrooms on the second floor. Features include a spacious two-car garage and a quiet street location. A boat currently on the property will remain with the sale.

20. 2024-07-29
    soldstatus $50,000
21. 2024-07-25
    soldstatus $50,000 Closed 147-char remark

    Show marketing remark (147 chars)

    Showings begin May 21st, 2024. Contractor special, foundation issues. Tons of potential, low trafficked St. Large two car garage. Cash Buyers only!

22. 2024-06-20
    status Pending 147-char remark

    Show marketing remark (147 chars)

    Showings begin May 21st, 2024. Contractor special, foundation issues. Tons of potential, low trafficked St. Large two car garage. Cash Buyers only!

23. 2024-05-30
    price $69,900 147-char remark

    Show marketing remark (147 chars)

    Showings begin May 21st, 2024. Contractor special, foundation issues. Tons of potential, low trafficked St. Large two car garage. Cash Buyers only!

24. 2024-05-16
    listed $99,900 Active - Delayed Showings 147-char remark

    Show marketing remark (147 chars)

    Showings begin May 21st, 2024. Contractor special, foundation issues. Tons of potential, low trafficked St. Large two car garage. Cash Buyers only!

25. 2017-06-29
    soldstatus $16,200 Closed
26. 2017-06-06
    historical Active with Contract
27. 2017-05-06
    price $24,900
28. 2017-04-05
    price $29,900
29. 2017-04-05
    status Active
30. 2017-03-21
    status Pending
31. 2017-03-13
    historical Active with Contract
32. 2017-03-03
    listed $32,500 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: $3,931 · $328/mo
• Projected year-2 tax: $3,931 · $328/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥88°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $33,600
• − Mortgage interest: −$10,027
• − Property taxes: −$3,931
• − Insurance: −$895
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$5,207
• Taxable income: $8,164
• Est. tax owed @ 24.0%: −$1,959
• After-tax cash flow: $8,494/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: Berlin School District
• NCES district ID: 3301860
• Math proficiency: 24% ▼ -5.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $37,494
• Composite: 22.5/100
• National rank: #8095
• State rank: #91 of 98 in NH

Livability — Berlin

• Score: 66/100
• State rank: #67
• US rank: #11665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berlin, NH
• City population: 9,473
• Population (ZIP): 9,473

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Black 4% Two or more races 4%
• Common ancestry: Lithuanian 21% German 2% Romanian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 88% English-only · French/Haitian/Cajun 8% Spanish 4%

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: ▲ 55.16%
• Current HPI: 440.9127
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+481.5% since first listed

16 events — show timeline

• 2026-01-27 Relisted — PrimeMLS
• 2026-01-16 Contingent — PrimeMLS
• 2026-01-08 Listed $189,000 PrimeMLS
• 2024-07-29 Sold (Public Records) $50,000 Public Records
• 2024-07-25 Sold (MLS) $50,000 PrimeMLS
• 2024-06-20 Pending — PrimeMLS
• 2024-05-30 Price Changed $69,900 PrimeMLS
• 2024-05-16 Listed $99,900 PrimeMLS
• 2017-06-29 Sold (MLS) $16,200 PrimeMLS
• 2017-06-06 Contingent — PrimeMLS
• 2017-05-06 Price Changed $24,900 PrimeMLS
• 2017-04-05 Price Changed $29,900 PrimeMLS
• 2017-04-05 Relisted — PrimeMLS
• 2017-03-21 Pending — PrimeMLS
• 2017-03-13 Contingent — PrimeMLS
• 2017-03-03 Listed $32,500 PrimeMLS

Property tax history

+2.1%/yr

Latest (2025): $3,931 · +8.8% YoY. Source: county tax records.