682 Cheshire St · Berlin, NH 03570

$79,900

9 bd · 3.0 ba · 2,970 sqft · MultiFamily public records · 289 Days on market

Built 1900 10,018 sqft lot $27/sqft · 45% below area

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Why this score? — see what drove the C- 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

Key facts

• Full basement
• Nearby park
• Downtown

Tags

• FULL BASEMENT
• REHAB SUPPLIES INCLUDED
• PUBLIC PARKS
• NEARBY PARK
• BASEBALL FIELDS
• DOWNTOWN

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 45.8% 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; 95 units permitted in Coos County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k 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 $22k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $40k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $80k implies a 433% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 5.04% ✓
• Cap rate: 45.77%
• Cash-on-cash: 140.98%
• DSCR: 7.27
• GRM: 1.7

CMA / ARV

• ARV (median comp): $170,997
• List price: $79,900
• Delta: -53.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 10.24×
• Total profit: $206,787
• Equity at exit: $71,980

10-year hold

• IRR: —
• Equity multiple: 22.49×
• Total profit: $480,839
• Equity at exit: $155,228

Cash invested: $22,372 (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: 5.0×

Monthly cashflow live

• Estimated rent: $4,026 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $2,562

Break-even live

Break-even rent $783

Max offer price $79,900

Occupancy floor 31%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,026
Total (3 units)			$4,026

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-31
   days on market $79,900 Active 289 DOM
2. 2026-02-05
   status Active 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

3. 2026-01-29
   status Pending 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

4. 2026-01-17
   historical Active with Contract 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

5. 2026-01-14
   price $79,900 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

6. 2026-01-13
   status Active 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

7. 2025-10-31
   historical 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

8. 2025-07-10
   price $112,900 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

9. 2025-05-26
   listed $119,900 Active 786-char remark

   Show marketing remark (786 chars)

   Located in close proximity to ATV/Snowmachine trails, public parks, Sinibaldi's restaurant and minutes from downtown, these 3 units building boasts appeal for both investors and potential owner-occupied buyers! Don't miss out on the potential of this building. Sellers have some rehab supplies included with the sale. This multifamily building has a full basement and more. All 3 units are currently vacant; a handy man's special with a whole lot of potential. Sellers will include all items purchased to improve the home with the sale of the property. A great location, nearby park and baseball fields, downtown, hospital and restaurants. There are plenty of opportunities for this place, come see for yourselves. Note: The building will need a new roof and has leaked. Price is firm.

10. 2013-10-15
    soldstatus $15,000 182-char remark

    Show marketing remark (182 chars)

    (1361) - Well maintained triplex with open porches, attached 1 car garage, large double lot. Units are well maintained with 2 means of egress. This is a Fannie Mae Homepath property.

11. 2013-08-09
    listed $15,000 182-char remark

    Show marketing remark (182 chars)

    (1361) - Well maintained triplex with open porches, attached 1 car garage, large double lot. Units are well maintained with 2 means of egress. This is a Fannie Mae Homepath property.

12. 2004-11-30
    soldstatus $71,500

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% 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: $48,312
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$1,197
• − Repairs & maintenance: −$3,865
• − Management: −$3,865
• − Depreciation: −$2,324
• Taxable income: $31,387
• Est. tax owed @ 24.0%: −$7,533
• After-tax cash flow: $23,210/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

+11.7% since first listed

11 events — show timeline

• 2026-02-05 Relisted — PrimeMLS
• 2026-01-29 Pending — PrimeMLS
• 2026-01-17 Contingent — PrimeMLS
• 2026-01-14 Price Changed $79,900 PrimeMLS
• 2026-01-13 Relisted — PrimeMLS
• 2025-10-31 Delisted — PrimeMLS
• 2025-07-10 Price Changed $112,900 PrimeMLS
• 2025-05-26 Listed $119,900 PrimeMLS
• 2013-10-15 Sold (MLS) $15,000 PrimeMLS
• 2013-08-09 Listed $15,000 PrimeMLS
• 2004-11-30 Sold (Public Records) $71,500 Public Records

Property tax history

+8.0%/yr

Latest (2025): $4,301 · +8.8% YoY. Source: county tax records.