25 Log St · Manchester, NH 03102

$169,000

2 bd · 1.0 ba · 728 sqft · Condo public records · 14 Days on market

Built 1980

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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 +13.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +4.2/5.0
• DSCR +4.0/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable way to own your own home! This 2nd floor, corner unit has been recently painted and offers Berber carpet, aapplianced, eat in kitchen, 2 bedrooms, up to 2 car parking, ipool and play area, more. All pets must be approved by condo assoc.

Key facts

• Built 1980
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-68 ($-820/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 6.3% vs local median 3.1% in Manchester — 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 83/100 on livability (#10 in NH, #879 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Manchester School District (urban): math 14% / reading 27% proficiency, ranked #96 of 98 in NH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.0%/yr); 71 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).
• This rent runs 31% of the median local income ($74k/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 $5k of value loss. Plan a longer hold.
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 26 sale attempts since 23y 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 $85k; list at $169k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 21% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,000

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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.15% ✓
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.96% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.33×
• Total profit: $-31,524
• Equity at exit: $25,198

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-32,186
• Equity at exit: $14,612

Cash invested: $47,320 (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 03102

• Home prices YoY: -16.2%
• Rents YoY: 3.0%
• Active inventory: 71
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,935 high
• Mortgage (P&I): −$886
• Tax from tax record: −$170 /mo · $2,042/yr
• Insurance: −$70
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 2 same-building comps: −$404
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-68

Break-even live

Break-even rent $2,022

Max offer price $156,924

Occupancy floor 99%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
143 Second St Unit 1 Manchester, NH	2.0	1.0	660	$1,674	$2.54	43d	1	0.26mi
211 Douglas St Unit 211-6 Manchester, NH	2.0	1.0	747	$1,800	$2.41	43d	1	0.33mi
553 South Commercial St Manchester, NH	2.0	1.0–2.0	761	$2,600	$3.42	13d	9	0.47mi
3 Sundial Ave Manchester, NH	2.0	1.0–2.0	762	$2,435	$3.19	13d	12	0.65mi
112 Brown Ave Unit 112 Manchester, NH	2.0	1.0	720	$1,849	$2.57	43d	1	0.66mi
75 Canal St Manchester, NH	3.0	1.0–2.0	842	$3,435	$4.08	13d	26	0.67mi
36 Brown Ave Unit 36 Manchester, NH	2.0	1.0	720	$1,809	$2.51	43d	1	0.67mi
113 Brown Ave Unit 113 Manchester, NH	1.0	1.0	468	$1,799	$3.84	43d	1	0.72mi
154 Sylvester St Unit 2 Manchester, NH	2.0	1.0	650	$1,750	$2.69	43d	1	0.74mi
65 S Elm St Unit 2 Manchester, NH	1.0	1.0	600	$1,999	$3.33	43d	1	0.87mi
21 Central St Manchester, NH	1.0–2.0	1.0	764	$2,800	$3.66	21d	1	0.88mi
67 Central St Manchester, NH	1.0	1.0	700	$2,000	$2.86	13d	1	0.93mi
251 Pine St Unit 201 Manchester, NH	1.0	1.0	504	$1,395	$2.77	21d	1	0.97mi
251 Pine St Unit 304 Manchester, NH	1.0	1.0	475	$1,450	$3.05	21d	1	0.97mi
251 Pine St Apt 303 Manchester, NH	1.0	1.0	391	$1,350	$3.45	43d	1	0.97mi
221 Calef Rd Unit 3 Manchester, NH	1.0	1.0	550	$1,450	$2.64	43d	1	0.98mi
526 Hevey St Unit 4 Manchester, NH	1.0	1.0	600	$2,250	$3.75	43d	1	1.05mi
40 Hanover St Manchester, NH	1.0	1.0	680	$1,613	$2.37	43d	1	1.05mi
99 Beech St Apt 3W Manchester, NH	1.0	1.0	450	$1,500	$3.33	43d	1	1.09mi
25 Laval St Manchester, NH	1.0	1.0	595	$1,400	$2.35	13d	2	1.09mi
25 Lowell St Ste 306 Manchester, NH	1.0	1.0	575	$1,850	$3.22	43d	1	1.16mi
25 Lowell St Unit 106 Manchester, NH	1.0	1.0	594	$2,700	$4.55	43d	1	1.16mi
80 Lowell St Manchester, NH	2.0	1.0	500	$1,700	$3.40	21d	1	1.23mi
1200 Elm St Manchester, NH	1.0–2.0	1.0–2.0	947	$2,960	$3.12	13d	9	1.23mi
293 Central St Unit 7 Manchester, NH	2.0	1.0	400	$1,495	$3.74	21d	1	1.25mi
470 Silver St #309 Manchester, NH	1.0	1.0	603	$1,725	$2.86	43d	1	1.27mi
1297 Elm St Unit 1297-20 Elm Manchester, NH	1.0	1.0	653	$1,625	$2.49	43d	1	1.32mi
345 Lake Ave Apt 3 Manchester, NH	1.0	1.0	700	$1,595	$2.28	13d	1	1.36mi
492 Pine St Unit 2 Manchester, NH	1.0	1.0	675	$1,500	$2.22	43d	1	1.36mi
494 Pine St Manchester, NH	1.0	1.0	425	$1,500	$3.53	21d	1	1.36mi
1361 Elm St Unit DLX+1BR Manchester, NH	1.0	1.0	550	$2,099	$3.82	13d	1	1.37mi
274 Amherst St Manchester, NH	1.0	1.0	550	$1,495	$2.72	13d	1	1.38mi
274 Amherst St Unit C2 Manchester, NH	1.0	1.0	550	$1,495	$2.72	43d	1	1.38mi
325 Amherst St Unit 2F Manchester, NH	2.0	1.0	609	$1,495	$2.45	43d	1	1.40mi
610 Union St Unit 403 Manchester, NH	1.0	1.0	644	$1,558	$2.42	21d	1	1.41mi
124 Orange St #202 Manchester, NH	1.0	1.0	570	$1,508	$2.65	43d	1	1.45mi
581 Chestnut St Manchester, NH	1.0	1.0	650	$1,395	$2.15	21d	1	1.45mi
285 Concord St Unit 7 Manchester, NH	1.0	1.0	390	$1,550	$3.97	13d	1	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $169,000 Active 14 DOM
2. 2026-06-17
   days on market $169,000 Active 13 DOM
3. 2026-06-16
   days on market $169,000 Active 12 DOM
4. 2026-06-15
   days on market $169,000 Active 11 DOM
5. 2026-06-14
   days on market $169,000 Active 9 DOM
6. 2026-06-13
   days on market $169,000 Active 8 DOM
7. 2026-06-10
   days on market $169,000 Active 6 DOM
8. 2026-06-09
   days on market $169,000 Active 5 DOM
9. 2026-06-08
   days on market $169,000 Active 4 DOM
10. 2026-06-07
    remarks 476-char remark
11. 2026-06-07
    listed $169,000 Active 3 DOM

ⓘ 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: $2,042 · $170/mo
• Projected year-2 tax: $2,863 · $239/mo
• Expected delta: +$821/yr (+$68/mo · 40.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,224
• − Mortgage interest: −$9,467
• − Property taxes: −$2,042
• − Insurance: −$1,642
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − HOA: −$4,848
• − Depreciation: −$4,916
• Taxable loss: −$3,407
• Est. tax savings @ 24.0%: +$818
• After-tax cash flow: $-3/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: Manchester School District
• NCES district ID: 3304590
• Math proficiency: 14% ▼ -10.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $54,096
• Composite: 18.67/100
• National rank: #8886
• State rank: #96 of 98 in NH

Livability — Manchester

• Score: 83/100
• State rank: #10
• US rank: #879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, NH
• County: Hillsborough County · 309,362 people
• City population: 110,172
• Metro: Manchester-Nashua, NH
• Population (ZIP): 33,959
• Household income: $74,327
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 1368.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 412,771 people
• By 2030: 410,974 · -0.4%
• By 2040: 399,959 · -3.1%
• By 2050: 381,542 · -7.6%
• By 2075: 339,855 · -17.7%
• By 2100: 289,270 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 9% Two or more races 8% Black 6% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 11% Romanian 3% Slovak 3%
• Foreign-born: 14% · Canada, China, India
• Languages at home: 81% English-only · Spanish 5% French/Haitian/Cajun 5% Other Indo-European 3%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 50.9% · R 48.0% · Other 1.0%
• 2008→2024 swing: -0.9pp no change · 2008: 3.8pp · 2024: 2.9pp
• All cycles: 2024: D+2.9 2020: D+7.7 2016: R+0.2 2012: D+1.7 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.62%
• Current HPI: 355.9606
• Rent YoY: ▲ 2.96%
• Metro: Manchester-Nashua, NH
• State GDP YoY: —
• F500 in state: 0

Price history

+125.3% since first listed

73 events — show timeline

• 2026-06-04 Listed $169,000 ForSaleByOwner.com
• 2006-06-22 Sold (Public Records) $85,000 Public Records
• 2006-06-20 Sold (MLS) $85,000 PrimeMLS
• 2006-05-25 Listed $89,900 PrimeMLS
• 2004-10-04 Sold (MLS) $87,400 PrimeMLS
• 2004-09-30 Sold (MLS) $88,500 PrimeMLS
• 2004-08-14 Listed $89,900 PrimeMLS
• 2004-08-14 Listed $89,900 PrimeMLS
• 2004-04-28 Sold (MLS) $64,166 PrimeMLS
• 2004-04-08 Delisted — PrimeMLS
• 2004-03-22 Sold (MLS) $65,000 PrimeMLS
• 2004-03-12 Sold (MLS) $75,000 PrimeMLS
• 2004-03-10 Listed $65,000 PrimeMLS
• 2004-03-01 Delisted — PrimeMLS
• 2004-01-20 Delisted — PrimeMLS
• 2004-01-06 Sold (MLS) $80,000 PrimeMLS
• 2003-12-16 Sold (MLS) $65,000 PrimeMLS
• 2003-12-15 Sold (MLS) $85,000 PrimeMLS
• 2003-12-10 Delisted — PrimeMLS
• 2003-12-09 Listed $88,900 PrimeMLS
• 2003-12-04 Sold (MLS) $65,000 PrimeMLS
• 2003-12-03 Sold (MLS) $80,000 PrimeMLS
• 2003-12-03 Sold (MLS) $43,000 PrimeMLS
• 2003-11-20 Delisted — PrimeMLS
• 2003-11-17 Delisted — PrimeMLS
• 2003-11-07 Delisted — PrimeMLS
• 2003-10-31 Sold (MLS) $65,000 PrimeMLS
• 2003-10-29 Delisted — PrimeMLS
• 2003-10-29 Delisted — PrimeMLS
• 2003-10-24 Sold (MLS) $75,000 PrimeMLS
• 2003-10-08 Delisted — PrimeMLS
• 2003-10-03 Sold (MLS) $85,000 PrimeMLS
• 2003-09-29 Delisted — PrimeMLS
• 2003-09-25 Sold (MLS) $65,000 PrimeMLS
• 2003-09-22 Sold (MLS) $75,000 PrimeMLS
• 2003-09-15 Sold (MLS) $75,000 PrimeMLS
• 2003-09-12 Sold (MLS) $75,000 PrimeMLS
• 2003-09-12 Sold (MLS) $75,000 PrimeMLS
• 2003-09-12 Sold (MLS) $75,000 PrimeMLS
• 2003-09-12 Sold (MLS) $75,000 PrimeMLS
• 2003-09-03 Delisted — PrimeMLS
• 2003-09-03 Delisted — PrimeMLS
• 2003-09-02 Listed $75,000 PrimeMLS
• 2003-09-02 Listed $75,000 PrimeMLS
• 2003-08-31 Listed $80,000 PrimeMLS
• 2003-08-31 Listed $65,000 PrimeMLS
• 2003-08-31 Listed $80,000 PrimeMLS
• 2003-08-31 Listed $55,000 PrimeMLS
• 2003-08-31 Listed $80,000 PrimeMLS
• 2003-08-31 Listed $85,000 PrimeMLS
• 2003-08-31 Listed $65,000 PrimeMLS
• 2003-08-28 Sold (MLS) $65,000 PrimeMLS
• 2003-08-26 Delisted — PrimeMLS
• 2003-08-26 Listed $75,000 PrimeMLS
• 2003-08-21 Delisted — PrimeMLS
• 2003-08-13 Delisted — PrimeMLS
• 2003-08-12 Delisted — PrimeMLS
• 2003-08-12 Listed $65,000 PrimeMLS
• 2003-08-12 Listed $75,000 PrimeMLS
• 2003-08-11 Sold (MLS) $65,000 PrimeMLS
• 2003-08-08 Listed $75,000 PrimeMLS
• 2003-08-08 Delisted — PrimeMLS
• 2003-08-01 Delisted — PrimeMLS
• 2003-08-01 Delisted — PrimeMLS
• 2003-07-25 Listed $75,000 PrimeMLS
• 2003-07-25 Listed $65,000 PrimeMLS
• 2003-07-25 Listed $65,000 PrimeMLS
• 2003-07-24 Listed $65,000 PrimeMLS
• 2003-07-23 Listed $75,000 PrimeMLS
• 2003-07-15 Sold (MLS) $75,000 PrimeMLS
• 2003-07-07 Delisted — PrimeMLS
• 2003-06-18 Listed $65,000 PrimeMLS
• 2003-05-27 Listed $75,000 PrimeMLS

Property tax history

+2.3%/yr

Latest (2024): $2,042 · +3.8% YoY. Source: county tax records.