31 Emerald Street – Keene, NH
Improvements
- Replaced carpet with luxury vinyl flooring
- Painted cabinets and walls throughout
- Installed new stainless steel appliances
- Enhanced interior appeal with cost-effective updates
Strategic Narrative
Why This Deal Made Sense:
- Prime downtown Keene location, just off Main Street
- Close to schools and amenities
- Strong purchase-to-rent ratio with immediate upside
Biggest Wins / Lessons Learned:
- Smart cosmetic improvements create rapid rent growth without heavy CapEx
- Single-family rentals in prime locations can rival multifamily returns when properly repositioned
Investment Snapshot
Strategy:
Buy & Hold with optional ADU addition
CapEx Invested:
Cosmetic renovations only
NOI:
From vacant → $3,900/month rent roll
Plan:
Refinance at 75% LTV and stabilize long-term cash flow
After 3D Tour
Single-Family Rental
April 2024 for $270,000
$358,000
Purchased in cash, 75% LTV refinance planned
