Four months after the town of Boscawen sold its historic former library building, the King Street property is on the market again.

Town resident Mason Donovan bought the 1913 library in January as an investment, with plans to convert it into a single-family residence before either reselling or renting it. That may still end up happening, he said in an interview last week, but he decided to see if he could find a buyer first.

“Let’s list it for a few months and see if somebody else – knowing that there’s a full plan to renovate it – if somebody wants to do it and put their own touch to it,” he said. “So it’s listed for sale now. If it doesn’t sell in a few months, then we’re going to go ahead with the renovations, but this gives the chance to somebody that is interested.”

The 1,600-square-foot building is listed for $345,000, more than double the $135,000 that Donovan paid the town for it. Over the last few months, he said he repaired the front stairs and furnace, did some landscaping, and addressed some more minor issues.

Prior to Donovan’s purchase, the fate of the historic building, designed by famed architect Guy Lowell, had been a long-simmering issue in town. Mostly vacant since 2003, the town previously considered repurposing it for another town need, but officials ultimately scrapped that possibility due in part to the lack of parking and the costs of bringing it into ADA compliance.

At consecutive town meetings in 2023 and 2024, residents considered warrant articles to sell the building, which is listed on the New Hampshire Preservation Alliance’s “Seven to Save” collection of historic properties and on the National Register of Historic Places. Voters authorized a sale last March.

Donovan was one of three people who submitted bids for the building last fall, which the town listed for $350,000. The Select Board selected Donovan’s bid last December.

The sale included covenants that require future owners to maintain the exterior facade of the structure.

Years ago, Donovan – who has engaged in real estate investment for the past 20 years – considered transforming the building into a coffee house and used bookstore, but he ultimately scrapped that plan because the property only has three parking spaces.

The building, which has one main floor and a basement, still contains ornate wooden fixtures and chandeliers but would require a significant renovation to become suitable for residential living. Donovan said he has already engaged in discussions with builders and would be willing to serve as the master contractor for a prospective buyer.

The asking price – $210,000 above what the town received for it – generated some questions on social media, but Donovan said it is reasonable given the fixed expenses of owning property and the repairs he’s conducted.

“When you buy a property, you’re paying thousands in taxes and fees and all these other things that go along with that. And then when you sell a property, you’re paying at minimum 6% of the real estate fee, plus transfer taxes, and things like that,” he said. “So I think it’s just people that are uninformed and don’t understand real estate and don’t understand real estate investment and what it takes and the risk that you take on when you buy real estate.”

If he sold the building at his asking price, Donovan estimated his profit would be “very much under $100,000 if I was lucky.”

Select Board member Lorrie Carey said the town would be paying close attention to the building’s future transformation.

“We’re very mindful of the folks who have taken on these projects and are hoping that they achieve the success we were unable to achieve,” she said.

Jeremy Margolis can be contacted at jmargolis@cmonitor.com.