18 Collins Dr

Northwood, NH 03261

$81,900B

2 bd · 1.5 ba · 566 sqft · Built 1940 · Other · Active · 141 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,795/mo
• Mortgage (P&I): −$429
• Tax + insurance: −$115
• HOA: −$21
• Vac / Maint / Mgmt: −$377
• Net cashflow: $853/mo
• Annual: $10,233/yr
• Cap rate: 18.79%
• Cash-on-cash: 44.62%
• DSCR: 2.99
• 1% rule: 2.19%
• Cash to close: $22,932

Investor read

• This is a 2-bed/1.5-bath other listed at $82k.
• At list price, monthly cash flow is $853 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• It's been on market 141 days — a 12% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $566 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Northwood School District (rural): math 51% / reading 60% proficiency, ranked #65 of 171 in NH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Northwood Elementary School (math 42% / reading 52%, grade D-, #114 of 263 statewide, top 46%, 388 students, 16% FRL) — zoned schools at 16% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• 4 sale attempts since 10y ago; this cycle's ask has dropped $23k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $82k implies a 137% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.