44 7Th St · Berlin, NH 03570

$199,000

3 bd · 2.0 ba · 1,938 sqft · SingleFamily · 118 Days on market

Built 1900 Fair condition 6,534 sqft lot $103/sqft · 11% above area Est $179k · 11% over

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.1/10.0
• Livability +3.3/5.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +2.2/5.0

Listing remarks MLS

Larger, in town home on corner lot. If you are looking for a lot of indoor space, this may be the property for you! So much room, with 3 bedrooms plus bonus room, and on the main level, there is a kitchen, dining room, living room, and sitting room. One full and one half bath with laundry on the second floor, and a quarter bath on 1st floor. There is a mud room to keep your winter boots out of the living space and a one car detached garage. Close to the River Walk and Heritage Park, and you can ride your ATV's straight out of the garage to the trails.

Key facts

• Atv access to trails
• Bonus room
• Corner lot

Tags

• CORNER LOT
• BONUS ROOM
• DETACHED GARAGE
• ATV ACCESS TO TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 6.2% 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: 102 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 $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.41% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.02%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (median comp): $179,082
• List price: $199,000
• Delta: 11.12%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
277 Sweden St	0.28mi	3/2.0	1,940 (+0%)	1mo	$185,000	$95	86
21 Rheims St	0.47mi	3/1.5	1,985 (+2%)	5mo	$200,000	$101	67
1786 Hutchins St	0.30mi	4/2.5 (+1)	1,829 (-6%)	7mo	$203,000	$111	64
447 Norway St	0.59mi	3/2.0	1,930 (-0%)	10mo	$252,500	$131	64
41 Whittemore Ave	0.25mi	3/1.5	2,132 (+10%)	10mo	$150,000	$70	62
216 Prospect St	0.61mi	3/1.0	1,728 (-11%)	2mo	$234,900	$136	48
1776 Riverside Dr	0.75mi	3/1.5	1,992 (+3%)	14mo	$216,000	$108	47
263 School St	0.74mi	3/2.0	1,649 (-15%)	2mo	$235,000	$143	38
450 Alpine St	0.72mi	4/2.0 (+1)	2,115 (+9%)	11mo	$305,000	$144	37
418 High St	0.74mi	3/1.0	1,730 (-11%)	10mo	$151,000	$87	35
28 Rheims St	0.51mi	4/1.0 (+1)	1,700 (-12%)	14mo	$280,000	$165	35
386 High St	0.73mi	4/1.5 (+1)	1,670 (-14%)	12mo	$170,000	$102	26

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: 37.7%
• Equity multiple: 3.90×
• Total profit: $161,716
• Equity at exit: $179,275

10-year hold

• IRR: 32.4%
• Equity multiple: 8.80×
• Total profit: $434,402
• Equity at exit: $386,613

Cash invested: $55,720 (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: 102
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $837

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 65%

Sensitivity live

Price	-10% $974	-5% $906	+0% $837	+5% $768	+10% $699
Rent	-10% $616	-5% $726	+0% $837	+5% $947	+10% $1,058
Rate	-1.0pp $937	-0.5pp $887	base $837	+0.5pp $785	+1.0pp $733

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: $49,750
• Closing costs: $5,970
• 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	45d	1	1.06mi

Listing history 17 events

1. 2026-06-21
   days on market $199,000 Active 118 DOM
2. 2026-06-21
   days on market $199,000 Active 117 DOM
3. 2026-06-18
   days on market $199,000 Active 115 DOM
4. 2026-06-17
   days on market $199,000 Active 114 DOM
5. 2026-06-16
   days on market $199,000 Active 113 DOM
6. 2026-06-15
   days on market $199,000 Active 112 DOM
7. 2026-06-13
   days on market $199,000 Active 110 DOM
8. 2026-06-12
   days on market $199,000 Active 109 DOM
9. 2026-06-09
   days on market $199,000 Active 106 DOM
10. 2026-06-08
    days on market $199,000 Active 105 DOM
11. 2026-06-07
    days on market $199,000 Active 104 DOM
12. 2026-06-07
    days on market $199,000 Active 103 DOM
13. 2026-06-04
    days on market $199,000 Active 100 DOM
14. 2026-06-02
    days on market $199,000 Active 99 DOM
15. 2026-06-01
    days on market $199,000 Active 98 DOM
16. 2026-05-31
    days on market $199,000 Active 97 DOM
17. 2026-02-23
    listed $199,000 Active 558-char remark

    Show marketing remark (558 chars)

    Larger, in town home on corner lot. If you are looking for a lot of indoor space, this may be the property for you! So much room, with 3 bedrooms plus bonus room, and on the main level, there is a kitchen, dining room, living room, and sitting room. One full and one half bath with laundry on the second floor, and a quarter bath on 1st floor. There is a mud room to keep your winter boots out of the living space and a one car detached garage. Close to the River Walk and Heritage Park, and you can ride your ATV's straight out of the garage to the trails.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 8 d/yr ≥85°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$5,789
• Taxable income: $7,308
• Est. tax owed @ 24.0%: −$1,754
• After-tax cash flow: $8,287/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property presents as a moderate rehab opportunity with average condition. It requires exterior updates, maintenance, and some interior upgrades to improve its curb appeal and value.

Repairs flagged

• Moderate Exterior siding — Weathered and could benefit from repainting.
• Moderate Windows — May need cleaning or replacement for better curb appeal.
• Minor Paint — Some areas may show signs of wear, but not severe enough to require immediate attention.
• Minor Landscaping — Overgrown areas and lack of curb appeal could be improved with some landscaping work.
• Minor Kitchen appliances — Standard appliances, but may need updating for a more modern look.
• Minor Bathroom fixtures — Standard fixtures, but may need updating for a more modern look.
• Minor HVAC filters — Standard systems, but may need cleaning or replacement for better performance.
• Major Roof inspection — Photos do not show the roof's condition, but it may need inspection for any potential issues.

Value-add opportunities

• Both Painting exterior siding — Improves curb appeal and can increase property value.
• Both Window replacement — Enhances curb appeal and can increase property value.
• Both Landscaping improvements — Enhances curb appeal and can increase property value.
• Both Kitchen appliance upgrade — Modernizes the kitchen and can increase property value.
• Both Bathroom fixture upgrade — Modernizes the bathrooms and can increase property value.
• Both HVAC system cleaning — Improves system performance and can increase property value.
• Both Roof inspection and potential repairs — Ensures structural integrity and can increase property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and could benefit from repainting.	Moderate	$3,000–15,000
Windows · May need cleaning or replacement for better curb appeal.	Moderate	$3,000–15,000
Paint · Some areas may show signs of wear, but not severe enough to require immediate attention.	Minor	$500–3,000
Landscaping · Overgrown areas and lack of curb appeal could be improved with some landscaping work.	Minor	$500–3,000
Kitchen appliances · Standard appliances, but may need updating for a more modern look.	Minor	$500–3,000
Bathroom fixtures · Standard fixtures, but may need updating for a more modern look.	Minor	$500–3,000
HVAC filters · Standard systems, but may need cleaning or replacement for better performance.	Minor	$500–3,000
Roof inspection · Photos do not show the roof's condition, but it may need inspection for any potential issues.	Major	$15,000–50,000
Total estimated repair cost · 8 items		$23,500–95,000

Value-add ROI direction

• Both Painting exterior siding — Improves curb appeal and can increase property value. ↑
• Both Window replacement — Enhances curb appeal and can increase property value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase property value. ↑
• Both Kitchen appliance upgrade — Modernizes the kitchen and can increase property value. ↑
• Both Bathroom fixture upgrade — Modernizes the bathrooms and can increase property value. ↑
• Both HVAC system cleaning — Improves system performance and can increase property value. ↑
• Both Roof inspection and potential repairs — Ensures structural integrity and can increase property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-02-23 Listed $199,000 PrimeMLS