🏘 Exeter, NH 2-Unit Multifamily Snapshot (Sold 2025)Property Overview:Sold in 2025 for the mid-$700s2-family configuration:(1) 3-bedroom unit(1) 1-bedroom unitJust under 3,000 sq ftFully renovated and truly turn-keyPricing & Market Context:Sold right at list price, indicating strong demand and accurate pricingRoughly $250 per sq ft, which aligns well with renovated multifamily pricing in ExeterReflects what the market is willing to pay for low-maintenance, move-in-ready assetsTakeaway:This sale reinforces that well-executed, renovated small multifamily properties in Exeter continue to command strong pricing—especially when condition and unit mix appeal to both owner-occupants and investors.Is this property best for owner occupants looking to offset their living expenses a bit(and which unit would you live in?)

A cursory internet search indicates that they've been in business for 7 years and their site states that they haven't missed a payment in 3.5 years.

It doesn't look like a garage conversion, but the SFH is currently having two kitchens, which is a good indication of some work done in the past.I also reached out to the listing agent for clarification but haven’t received a response.For those with experience:- Do you generally assume unpermitted work when the sqft and shape don’t line up?  

The median $/SF has remained in a tight band of $1.16/SF and $1.20/SF throughout 2025.Rentals - Availability by MonthThe number of homes for rent continued to decrease MoM, which is unusual for the time of year (it usually rises towards the end of the year).Rentals - Median Time to RentMedian days to rent decreased MoM, a bit unusual for December.Rentals - Months of SupplyInventory decreased MoM to about 1.7 months, indicating a firm landlord’s market.Sales - Months of SupplySales inventory has remained in a tight band of between 2 and 3 months throughout 2025, except for December, when it dropped to 1.8 months.

The inside (dental rooms, equipment, etc.) is basically the same as it was 20 years ago with no major updates so it is dated and will need some significant upgrades.The dentist has indicated that he would consider selling me the condo space directly with seller financing either as part of the practice purchase or down the road.

Unless the home is new which your loan amount tends to indicate it is a used older home your loan principal and interest payments, insurance and home repairs will keep you on your back for the life of the investment. 

With the tax-free gain of $500k on a $500k remaining mortgage, I'm considering taking the $1m of tax-free cash and buying some STRs with my LLC as follows:Research indicates 3-5 BR SFH are best near Jay Peak or North Conway, so I could probably acquire x2 STRs with that cash and projecting (based on AirDNA):BALANCE SHEET ($/yr)- INCOME-- TOTAL (annual revenue target): 100k (assuming low end of STR math from this website) - EXPENSES-- taxes = 1% (NH) + 2% (VT) = 15k-- insurance = 0.25% = 2.5k -- PM fees = 20-40% (I'm seeing a wide range - anyone have comps?)

Just attach a signed statement to your return that indicates that the safe harbor requirement has been met.

This is a clear indication of a novice investor, who doesn't even know where to start, and is more concerned with trying to sound neat, while being focused on titles over performance.

This is often the result of their having changed address so that their current address differs from that as indicated in the original mortgage instrument.