57 Sparrow St · Keene, NH 03431

$199,900

4 bd · 2.0 ba · 1,792 sqft · Manufactured public records · 21 Days on market

Built 2005 Est $208k · at est. $570/mo HOA · 22% of rent

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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 +20.3/30.0
• ARV discount +9.2/15.0
• 1% rule +8.0/10.0
• DSCR +6.5/10.0
• Livability +4.4/5.0
• Rent growth +3.4/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity to own the largest home in the park! Offering an impressive 1,792 square feet of living space, this exceptional double-wide combines the space, comfort, and functionality that are rarely found in manufactured home communities. Designed with both everyday living and entertaining in mind, the expansive floor plan features 4 bedrooms, 2 full bathrooms, and generous living spaces throughout. The spacious kitchen serves as the heart of the home, offering abundant cabinetry, ample counter space, a center island, pantry, and an effortless flow into the dining and living areas. The oversized primary suite provides a private retreat complete with a large ensuite bathroom featuring d

Key facts

• Expansive floor plan
• Spacious kitchen
• Built 2005

Tags

• EXPANSIVE FLOOR PLAN
• SPACIOUS KITCHEN
• OVERSIZED PRIMARY SUITE
• PRIVATE BACKYARD SETTING
• BEAUTIFULLY CRAFTED GAZEBO
• MULTIPLE STORAGE SHEDS

Property features AI

Finance

• Other: Privately maintained road frontage; Mobile make: Commodore; model: Richland; serial #: CD44068AB; anchored
• HOA & community: Monthly park/association fee; Monthly fee covers sewer, trash and park rent; One-time buy-in fee; One-time additional fee; Association amenities include management plan, master insurance, playground, common acreage, RV parking and trash removal; Located in a mobile home co-op (Tanglewood Park Co-op) with park approval

Exterior

• Parking: Paved driveway
• Utilities: Community sewer; Community water; 200 Amp electric service with circuit breakers; Eversource electric; Internet via fiber optic available; Cable available; Telephone available; Fuel service: Swanzey Oil
• Home design: Manufactured home (Manuf/Mobile style); Single-story (manufactured); Tan exterior color; Metal roof
• Construction: Built in 2005; Vinyl siding; Manufactured home construction
• Exterior features: Landscaped; Level lot; Near golf course; Near paths; Near shopping; Neighborhood setting; Near public transportation; Near hospital; Near schools

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heat; Central air conditioning
• Interior features: 7 total rooms; Carpet and laminate flooring
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.2% in Keene — 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 88/100 on livability (#4 in NH, #192 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Keene School District (town): math 26% / reading 47% proficiency, ranked #76 of 98 in NH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fuller Elementary School (math 22% / reading 42%, grade F, #190 of 263 statewide, top 75%, 310 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 63 active listings in the ZIP; solid renter incomes; 166 units permitted in Cheshire County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($80k/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.
• Cheshire County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.30% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $207,872
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Blue Jay Ct	0.14mi	3/2.0 (-1)	1,568 (-12%)	21mo	$182,000	$116	50

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 · 3.43% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-14,543
• Equity at exit: $29,806

10-year hold

• IRR: 3.4%
• Equity multiple: 1.26×
• Total profit: $14,362
• Equity at exit: $17,284

Cash invested: $55,972 (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 03431

• Home prices YoY: -34.4%
• Rents YoY: 3.4%
• Active inventory: 63
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,602 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$83
• HOA: −$570
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $258

Break-even live

Break-even rent $2,275

Max offer price $199,900

Occupancy floor 85%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $570 · $6,840/yr

Listing history 16 events

1. 2026-06-19
   days on market $199,900 Active 21 DOM
2. 2026-06-18
   days on market $199,900 Active 20 DOM
3. 2026-06-17
   days on market $199,900 Active 19 DOM
4. 2026-06-16
   days on market $199,900 Active 18 DOM
5. 2026-06-15
   days on market $199,900 Active 17 DOM
6. 2026-06-14
   days on market $199,900 Active 15 DOM
7. 2026-06-12
   days on market $199,900 Active 14 DOM
8. 2026-06-09
   days on market $199,900 Active 11 DOM
9. 2026-06-08
   days on market $199,900 Active 10 DOM
10. 2026-06-07
    days on market $199,900 Active 9 DOM
11. 2026-06-07
    days on market $199,900 Active 8 DOM
12. 2026-06-03
    days on market $199,900 Active 5 DOM
13. 2026-06-02
    days on market $199,900 Active 4 DOM
14. 2026-06-01
    days on market $199,900 Active 3 DOM
15. 2026-05-31
    days on market $199,900 Active 2 DOM
16. 2026-05-29
    listed $199,900 Active

ⓘ 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: $1,153 · $96/mo
• Projected year-2 tax: $2,755 · $230/mo
• Expected delta: +$1,603/yr (+$134/mo · 139.0%)

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

Taxation est. · year 1

• Rental income: $31,223
• − Mortgage interest: −$11,198
• − Property taxes: −$1,153
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,498
• − Management: −$2,498
• − HOA: −$6,840
• − Depreciation: −$5,815
• Taxable income: $222
• Est. tax owed @ 24.0%: −$53
• After-tax cash flow: $3,041/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: Keene School District
• NCES district ID: 3304050
• Math proficiency: 26% ▼ -16.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $51,158
• Composite: 31.62/100
• National rank: #5943
• State rank: #76 of 98 in NH

Livability — Keene

• Score: 88/100
• State rank: #4
• US rank: #192

Category grades

Amenities A+ Commute A+ 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: Keene, NH
• County: Cheshire County · 25,065 people
• City population: 25,065
• Metro: Keene, NH
• Population (ZIP): 25,065
• Household income: $79,541
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 716.0

Population outlook (Cheshire County) Hauer SSP2

• Today (2025): 74,613 people
• By 2030: 72,495 · -2.8%
• By 2040: 66,778 · -10.5%
• By 2050: 60,963 · -18.3%
• By 2075: 49,511 · -33.6%
• By 2100: 39,687 · -46.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 10% Slovak 4% Romanian 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · French/Haitian/Cajun 1% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Cheshire

• 2024 margin: Lean D (+9.8) · D 54.4% · R 44.6% · Other 1.1%
• 2008→2024 swing: -17.8pp toward R · 2008: 27.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+17.2 2016: D+12.6 2012: D+24.8 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -203.55%
• Current HPI: 387.6804
• Rent YoY: ▲ 3.43%
• Metro: Keene, NH
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-29 Listed $199,900 PrimeMLS