160 Treetop Cir #23 · Laconia, NH 03246

$193,875

2 bd · 2.0 ba · 848 sqft · Condo public records · 12 Days on market

Built 1974 $382/mo HOA · 20% 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).

• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to get your own place at The Big Lake. Village of Winnipesaukee is within walking distance of all the fun Weirs Beach, and a short, few minute's drive to the four-season playground of the Lakes Region. Enjoy Gunstock Mtn, concerts at Meadowbrook, the sun and fun of the local beaches, great local restaurants, shopping and more! This unit is tucked away in the back of the association and provides views of the Lake and Mountains. Association features a new salt-water pool and plenty of common area to enjoy on a hot summer afternoon. Great rental potential and a solid association complete the package.

Key facts

• $382 HOA
• Community pool
• Built 1974

Property features AI

Finance

• Other: Condo name: Village of Winnipesauke
• HOA & community: Monthly condo fee of $382; Condo fee covers association/HOA fee, internet, landscaping, plowing, recreation, trash and water; Association amenities include beach access, heated in-ground pool, playground, basketball court, coin laundry, building maintenance, master insurance, snow removal and trash removal

Exterior

• Parking: Shared paved driveway
• Utilities: Public water; Public sewer; Circuit breaker electrical service; High-speed internet available; Cable available
• Home design: Garden-style condominium; Built in 1974; Unit 23
• Construction: Vinyl exterior; Membrane roof
• Exterior features: Condo development with lake and mountain views; Near skiing

Interior

• Kitchen: Refrigerator; Electric stove
• Bedrooms: Unit 23 (unit/lot number provided)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Wall AC units
• Interior features: 4 total rooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $194k.

Deal economics

• At list price, monthly cash flow is $-227 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (2.7% below list).
• Recommended offer: $154k (20.7% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 1.8% in Laconia — 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 79/100 on livability (#20 in NH, #2,314 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Laconia School District (town): math 24% / reading 31% proficiency, ranked #89 of 98 in NH (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Woodland Heights Elementary School (math 17% / reading 32%, grade F, #230 of 263 statewide, top 91%, 304 students, 65% FRL); Laconia Middle School (math 28% / reading 29%, grade F, #75 of 96 statewide, top 78%, 408 students, 47% FRL); Laconia High School (math 32% / reading 37%, grade F, #73 of 90 statewide, top 83%, 590 students, 39% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising fast (+21.6%/yr); 186 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).
• This rent runs 31% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $153,696 (20.7% 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.34×
• Total profit: $-35,676
• Equity at exit: $28,907

10-year hold

• IRR: -0.7%
• Equity multiple: 0.94×
• Total profit: $-3,305
• Equity at exit: $16,763

Cash invested: $54,285 (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 03246

• Home prices YoY: -19.8%
• Rents YoY: 21.6%
• Active inventory: 186
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,886 medium
• Mortgage (P&I): −$1,017
• Tax from tax record: −$238 /mo · $2,852/yr
• Insurance: −$81
• HOA: −$382
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-227

Break-even live

Break-even rent $2,174

Max offer price $153,696

Occupancy floor —

Sensitivity live

Price	-10% $-118	-5% $-173	+0% $-227	+5% $-282	+10% $-337
Rent	-10% $-376	-5% $-302	+0% $-227	+5% $-153	+10% $-78
Rate	-1.0pp $-130	-0.5pp $-178	base $-227	+0.5pp $-278	+1.0pp $-329

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: $48,469
• Closing costs: $5,816
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Treetop Cir Laconia, NH	2.0	2.0	883	$1,900	$2.15	46d	1	0.04mi
361 Lakeside Ave Unit 2 Laconia, NH	2.0	1.0	1000	$1,950	$1.95	46d	1	0.23mi
130 Endicott St N Laconia, NH	2.0	2.0	1100	$2,400	$2.18	46d	1	0.45mi

HOA detail condo

• Monthly dues: $382 · $4,584/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-06
   status Pending 1455-char remark
2. 2026-04-24
   listed $193,875 Active 1455-char remark
3. 2017-05-22
   soldstatus $82,995 Closed 622-char remark

   Show marketing remark (622 chars)

   Great opportunity to get your own place at The Big Lake. Village of Winnipesaukee is within walking distance of all the fun Weirs Beach, and a short, few minute's drive to the four-season playground of the Lakes Region. Enjoy Gunstock Mtn, concerts at Meadowbrook, the sun and fun of the local beaches, great local restaurants, shopping and more! This unit is tucked away in the back of the association and provides views of the Lake and Mountains. Association features a new salt-water pool and plenty of common area to enjoy on a hot summer afternoon. Great rental potential and a solid association complete the package.

4. 2017-03-29
   historical Active with Contract 622-char remark

   Show marketing remark (622 chars)

   Great opportunity to get your own place at The Big Lake. Village of Winnipesaukee is within walking distance of all the fun Weirs Beach, and a short, few minute's drive to the four-season playground of the Lakes Region. Enjoy Gunstock Mtn, concerts at Meadowbrook, the sun and fun of the local beaches, great local restaurants, shopping and more! This unit is tucked away in the back of the association and provides views of the Lake and Mountains. Association features a new salt-water pool and plenty of common area to enjoy on a hot summer afternoon. Great rental potential and a solid association complete the package.

5. 2017-03-13
   listed $79,900 Active 622-char remark

   Show marketing remark (622 chars)

   Great opportunity to get your own place at The Big Lake. Village of Winnipesaukee is within walking distance of all the fun Weirs Beach, and a short, few minute's drive to the four-season playground of the Lakes Region. Enjoy Gunstock Mtn, concerts at Meadowbrook, the sun and fun of the local beaches, great local restaurants, shopping and more! This unit is tucked away in the back of the association and provides views of the Lake and Mountains. Association features a new salt-water pool and plenty of common area to enjoy on a hot summer afternoon. Great rental potential and a solid association complete the package.

6. 2015-09-29
   soldstatus $12,000

ⓘ 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: $2,852 · $238/mo
• Projected year-2 tax: $3,539 · $295/mo
• Expected delta: +$687/yr (+$57/mo · 24.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,628
• − Mortgage interest: −$10,860
• − Property taxes: −$2,852
• − Insurance: −$969
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$4,584
• − Depreciation: −$5,640
• Taxable loss: −$5,898
• Est. tax savings @ 24.0%: +$1,415
• After-tax cash flow: $-1,314/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: Laconia School District
• NCES district ID: 3304140
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 31% ▼ -7.00%
• Median HH income: $49,155
• Composite: 24.03/100
• National rank: #7770
• State rank: #89 of 98 in NH

Livability — Laconia

• Score: 79/100
• State rank: #20
• US rank: #2314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laconia, NH
• County: Belknap County · 17,103 people
• City population: 17,103
• Metro: Laconia, NH
• Population (ZIP): 17,103
• Household income: $73,241
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 722.0

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 17% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Belknap

• 2024 margin: R (+13.1) · D 43.1% · R 56.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 1.2pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.4 2016: R+16.8 2012: R+5.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.22%
• Current HPI: 389.8118
• Rent YoY: ▲ 21.59%
• Metro: Laconia, NH
• State GDP YoY: —
• F500 in state: 0

Price history

+1458.3% since first listed

7 events — show timeline

• 2026-05-29 Sold (MLS) $187,000 PrimeMLS
• 2026-05-06 Pending — PrimeMLS
• 2026-04-24 Listed $193,875 PrimeMLS
• 2017-05-22 Sold (MLS) $82,995 PrimeMLS
• 2017-03-29 Contingent — PrimeMLS
• 2017-03-13 Listed $79,900 PrimeMLS
• 2015-09-29 Sold (Public Records) $12,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,852 · -11.8% YoY. Source: county tax records.