22 Wayne Dr #22 · Derry, NH 03038

$189,900

2 bd · 2.0 ba · 1,280 sqft · Manufactured · 49 Days on market

Built 1998 Average condition $575/mo HOA

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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 +15.9/30.0
• ARV discount +12.0/15.0
• 1% rule +8.2/10.0
• DSCR +4.9/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Condition / age +2.8/5.0
• Rent growth +2.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare affordable homeownership opportunity in a prime commuter location! Welcome to 22 Wayne Drive in the friendly Centennial Estates Co-Op community of Derry, NH, conveniently located near I-93, Route 101, shopping, dining, and everyday amenities. This large 16' x 80' single-wide manufactured home offers comfortable one-level living on one of the generously sized lots that make this community feel more open and private than many traditional manufactured home parks. Centennial Estates is known for its welcoming neighborhood atmosphere and spacious lot layout, creating a pleasant and relaxed place to call home. Enjoy the outdoors from two decks, a large deck on one side of the home perfect fo

Key facts

• All new flooring
• One-level living
• Brand-new roof

Tags

• PRIME COMMUTER LOCATION
• GENEROUSLY SIZED LOTS
• ONE-LEVEL LIVING
• TWO DECKS
• BRAND-NEW ROOF
• ALL NEW FLOORING

Property features AI

Finance

• Other: Sale includes manufactured home and outbuilding; Association maintains privately maintained, shared paved roads
• HOA & community: Monthly association fee; Association services include water, sewer, trash pickup and plowing; One-time buy-in fee required

Exterior

• Parking: Paved driveway
• Utilities: Community water with on-site well present; Community / shared septic; 100 Amp electric service; Cable available on site; High-speed internet available; LP/bottle gas available
• Home design: Single-wide manufactured home; Aluminum and vinyl exterior; Gray exterior color; Shingle (architectural) roof; Built in 1998; Located in Centennial Estates (mobile park), Lot/Unit 22; Mobile park approved and co-op
• Construction: Manufactured home construction; Aluminum and vinyl siding; Architectural shingle roof; Crawl space foundation
• Exterior features: Leased lot in a neighborhood; Level site near shopping and schools; Paved driveway

Interior

• Kitchen: Kitchen with gas range; Dishwasher
• Bedrooms: Two bedrooms (both on main level); One bedroom includes an attached bath
• Flooring: Vinyl plank flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric forced air heating
• Interior features: Six total rooms; Crawl space
• Laundry & utility: Water heater

🏢 Co-op / cooperative unit. The $189,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 2.5% in Derry — 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 81/100 on livability (#13 in NH, #1,420 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: commute F.
• Derry School District (suburban): math 33% / reading 46% proficiency, ranked #62 of 98 in NH (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Ernest P. Barka Elementary School (math 28% / reading 38%, grade F, #189 of 263 statewide, top 72%, 522 students, 25% FRL).
• Market conditions: Rents flat; 118 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.32% ✓
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $211,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Wayne Dr #22	0.00mi	2/2.0	1,280 (0%)	0mo	$189,900	$148	100
211 28 Byp #17	0.09mi	2/2.0	1,224 (-4%)	17mo	$201,400	$165	75
16 Tamarack Pl	0.58mi	2/2.0	1,344 (+5%)	9mo	$200,000	$149	57
12 Tamarack Pl	0.57mi	2/2.0	1,176 (-8%)	8mo	$198,500	$169	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.89% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-29,836
• Equity at exit: $28,315

10-year hold

• IRR: -14.0%
• Equity multiple: 0.30×
• Total profit: $-37,461
• Equity at exit: $16,419

Cash invested: $53,172 (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 03038

• Rents YoY: 0.9%
• Active inventory: 118
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,503 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$575
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $90

Break-even live

Break-even rent $2,389

Max offer price $189,900

Occupancy floor 91%

Sensitivity live

Price	-10% $222	-5% $156	+0% $90	+5% $25	+10% $-41
Rent	-10% $-107	-5% $-9	+0% $90	+5% $189	+10% $288
Rate	-1.0pp $186	-0.5pp $139	base $90	+0.5pp $41	+1.0pp $-9

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Emerald Dr Derry, NH	2.0	1.5	1100	$2,500	$2.27	2d	1	0.83mi
6 Sheridan Dr Unit A Londonderry, NH	3.0	1.5	1200	$2,800	$2.33	13d	1	1.28mi
6A Sheridan Dr Londonderry, NH	3.0	1.5	1200	$2,800	$2.33	5d	1	1.29mi

HOA detail

• Monthly dues: $575 · $6,900/yr

Listing history 11 events

1. 2026-06-13
   statusdays on market $189,900 Pending 49 DOM
2. 2026-06-09
   days on market $189,900 Active with Contract 46 DOM
3. 2026-06-08
   days on market $189,900 Active with Contract 45 DOM
4. 2026-06-07
   days on market $189,900 Active with Contract 44 DOM
5. 2026-06-04
   days on market $189,900 Active with Contract 41 DOM
6. 2026-06-03
   days on market $189,900 Active with Contract 40 DOM
7. 2026-06-02
   days on market $189,900 Active with Contract 39 DOM
8. 2026-06-01
   days on market $189,900 Active with Contract 38 DOM
9. 2026-05-31
   days on market $189,900 Active with Contract 37 DOM
10. 2026-04-30
    historical Active with Contract
11. 2026-04-24
    listed $189,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,040
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,403
• − Management: −$2,403
• − HOA: −$6,900
• − Depreciation: −$5,524
• Taxable loss: −$1,626
• Est. tax savings @ 24.0%: +$390
• After-tax cash flow: $1,474/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This single-wide manufactured home in Centennial Estates Co-Op community offers comfortable one-level living with good condition and potential for cosmetic upgrades to enhance its resale and rental value.

Repairs flagged

• Minor Paint — Some wear on interior walls
• Minor Landscaping — Some overgrown areas

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Some wear on interior walls	Minor	$500–3,000
Landscaping · Some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Derry School District
• NCES district ID: 3302610
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $67,579
• Composite: 35.71/100
• National rank: #4863
• State rank: #62 of 98 in NH

Livability — Derry

• Score: 81/100
• State rank: #13
• US rank: #1420

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rockingham County · 137,526 people
• City population: 34,474
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 34,474
• Household income: $108,322
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 761.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4% Asian 1%
• Common ancestry: Lithuanian 12% Romanian 5% Slovak 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -239.00%
• Current HPI: 332.8122
• Rent YoY: ▲ 0.89%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

2 events — show timeline

• 2026-04-30 Contingent — PrimeMLS
• 2026-04-24 Listed $189,900 PrimeMLS