185 Berry River Rd · Rochester, NH 03825

$389,900

3 bd · 1.0 ba · 1,748 sqft · SingleFamily public records · 21 Days on market

Built 2005 0.70 ac lot Est $491k · 21% under $42/mo HOA · 2% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.8/30.0
• Schools +4.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +1.0/10.0

Listing remarks MLS

BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

Key facts

• 0.7 acre lot
• Built 2005
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $-613 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (27.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (32.7% below list).
• Recommended offer: $263k (32.7% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.3% in Rochester — 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 84/100 on livability (#8 in NH, #698 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities C-.
• Barrington School District (rural): math 45% / reading 47% proficiency, ranked #44 of 98 in NH (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Barrington Elementary School (math 42% / reading 42%, grade F, #141 of 263 statewide, top 58%, 424 students, 9% FRL); Barrington Middle School (math 47% / reading 49%, grade C-, #29 of 96 statewide, top 29%, 382 students, 11% FRL) — zoned schools at 10% FRL track the district average.
• Market conditions: 77 active listings in the ZIP; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $39k appreciation (10.0% local appreciation)).
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($384k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $30k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $295k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $262,502 (32.7% below list)

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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.67% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.74%
• DSCR: 0.70
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $491,188
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
86 Long Shores Dr	0.24mi	3/2.0	1,560 (-11%)	6mo	$500,000	$321	62
173 Second Crown Point Rd	0.46mi	4/2.0 (+1)	1,886 (+8%)	14mo	$530,000	$281	44
595 Berry River Rd	0.72mi	3/2.0	1,536 (-12%)	13mo	$405,000	$264	31

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: 19.5%
• Equity multiple: 2.59×
• Total profit: $173,356
• Equity at exit: $351,253

10-year hold

• IRR: 17.9%
• Equity multiple: 5.96×
• Total profit: $541,265
• Equity at exit: $757,490

Cash invested: $109,172 (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 03825

• Home prices YoY: 13.7%
• Active inventory: 77
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,625 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$437 /mo · $5,249/yr
• Insurance: −$162
• HOA: −$42
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $-613

Break-even live

Break-even rent $3,401

Max offer price $281,649

Occupancy floor —

Sensitivity live

Price	-10% $-392	-5% $-502	+0% $-613	+5% $-723	+10% $-834
Rent	-10% $-820	-5% $-716	+0% $-613	+5% $-509	+10% $-405
Rate	-1.0pp $-416	-0.5pp $-514	base $-613	+0.5pp $-714	+1.0pp $-817

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 16 events

1. 2026-04-04
   status Pending
2. 2026-03-23
   price $389,900
3. 2026-03-19
   price $405,000
4. 2026-03-14
   listed $419,900 Active
5. 2026-03-10
   price $419,900
6. 2026-03-10
   historical $415,000
7. 2026-03-10
   listed $415,000 Active
8. 2022-02-25
   soldstatus $295,000 Closed 240-char remark

   Show marketing remark (240 chars)

   BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

9. 2022-02-25
   soldstatus $295,000

   Show marketing remark (240 chars)

   BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

10. 2022-01-14
    historical Active with Contract 240-char remark

    Show marketing remark (240 chars)

    BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

11. 2022-01-12
    price $305,000 240-char remark

    Show marketing remark (240 chars)

    BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

12. 2022-01-03
    status Active 240-char remark

    Show marketing remark (240 chars)

    BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

13. 2021-12-22
    historical Active with Contract 240-char remark

    Show marketing remark (240 chars)

    BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

14. 2021-12-21
    status Active 240-char remark

    Show marketing remark (240 chars)

    BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

15. 2021-12-20
    historical Active with Contract 240-char remark

    Show marketing remark (240 chars)

    BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

16. 2021-12-15
    listed $315,000 Active 240-char remark

    Show marketing remark (240 chars)

    BACK ON THE MARKET!!! Welcome Home to this well maintained 3 bedroom, 2 bonus room Cape located in the heart of Barrington. With Deeded beach access and private boat launch. Showings begin at the Open House hosted on 12/18/2021 at 11am-1pm.

ⓘ 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: $5,249 · $437/mo
• Projected year-2 tax: $6,874 · $573/mo
• Expected delta: +$1,625/yr (+$135/mo · 31.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $31,500
• − Mortgage interest: −$21,840
• − Property taxes: −$5,249
• − Insurance: −$1,950
• − Repairs & maintenance: −$2,520
• − Management: −$2,520
• − HOA: −$504
• − Depreciation: −$11,343
• Taxable loss: −$14,425
• Est. tax savings @ 24.0%: +$3,462
• After-tax cash flow: $-3,891/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: Barrington School District
• NCES district ID: 3301650
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $78,443
• Composite: 42.19/100
• National rank: #3289
• State rank: #44 of 98 in NH

Livability — Rochester

• Score: 84/100
• State rank: #8
• US rank: #698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 22,732
• Population (ZIP): 9,420

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 13% Slovak 5% Romanian 5%
• Foreign-born: 1% · Canada

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 50.84%
• Current HPI: 422.7577
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+23.8% since first listed

16 events — show timeline

• 2026-04-04 Pending — PrimeMLS
• 2026-03-23 Price Changed $389,900 PrimeMLS
• 2026-03-19 Price Changed $405,000 PrimeMLS
• 2026-03-14 Listed $419,900 PrimeMLS
• 2026-03-10 Price Changed $419,900 PrimeMLS
• 2026-03-10 Coming Soon $415,000 PrimeMLS
• 2026-03-10 Listed $415,000 PrimeMLS
• 2022-02-25 Sold (Public Records) $295,000 Public Records
• 2022-02-25 Sold (MLS) $295,000 PrimeMLS
• 2022-01-14 Contingent — PrimeMLS
• 2022-01-12 Price Changed $305,000 PrimeMLS
• 2022-01-03 Relisted — PrimeMLS
• 2021-12-22 Contingent — PrimeMLS
• 2021-12-21 Relisted — PrimeMLS
• 2021-12-20 Contingent — PrimeMLS
• 2021-12-15 Listed $315,000 PrimeMLS

Property tax history

+2.7%/yr

Latest (2024): $5,249 · +3.4% YoY. Source: county tax records.