2733 Dartmouth College Hwy

Haverhill, NH 03774

$1,495,000B-

17 bd · 13.0 ba · 7,159 sqft · Built 1900 · MultiFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $16,250/mo
• Mortgage (P&I): −$7,840
• Tax + insurance: −$1,176
• HOA: −$0
• Vac / Maint / Mgmt: −$3,412
• Net cashflow: $3,821/mo
• Annual: $45,856/yr
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• 1% rule: 1.09%
• Cash to close: $418,600

Investor read

• This is a 17-bed/13.0-bath multifamily listed at $1.50M.
• At list price, monthly cash flow is $4k ($46k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.50M).
• It's been on market 76 days — a 6% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.41M (6.0% below list) — sets the bar for market timing.
• In year one you build about $160k of equity ($10k loan paydown + $150k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Haverhill Cooperative School District (rural): math 26% / reading 45% proficiency, ranked #78 of 98 in NH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodsville Elementary School (math 34% / reading 24%, grade F, #201 of 263 statewide, top 82%, 211 students, 36% FRL); Haverhill Cooperative Middle School (math 27% / reading 47%, grade F, #50 of 96 statewide, top 54%, 226 students, 38% FRL); Woodsville High School (math 15% / reading 54%, grade F, #71 of 90 statewide, top 80%, 216 students, 29% FRL) — zoned schools at 34% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 19 sale attempts since 5y ago; this cycle's ask is 127134% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $725k; list at $1.50M implies a 106% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $419k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$257k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.