320 Old Lakeshore Rd #17

Gilford, NH 03249

$141,900B-

2 bd · 2.0 ba · 1,116 sqft · Built 1986 · Manufactured · Pending · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,119/mo
• Mortgage (P&I): −$744
• Tax + insurance: −$188
• HOA: −$410
• Vac / Maint / Mgmt: −$445
• Net cashflow: $332/mo
• Annual: $3,986/yr
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• 1% rule: 1.49%
• Cash to close: $39,732

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $142k.
• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• It's been on market 100 days — a 9% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (9.0% below list) — sets the bar for market timing.
• In year one you build about $15k of equity ($981 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Gilford School District (rural): math 52% / reading 52% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Gilford Elementary School (math 57% / reading 62%, grade B-, #42 of 263 statewide, top 19%, 322 students, 13% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 86 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $18k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $142k implies a 136% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.