1311 Village Rd

Madison, NH 03875

$399,000C-

5 bd · 4.0 ba · 3,330 sqft · Built 1875 · MultiFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,778/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$464
• HOA: −$0
• Vac / Maint / Mgmt: −$793
• Net cashflow: $429/mo
• Annual: $5,145/yr
• Cap rate: 7.58%
• Cash-on-cash: 4.60%
• DSCR: 1.20
• 1% rule: 0.95%
• Cash to close: $111,720

Investor read

• This is a 5-bed/4.0-bath multifamily listed at $399k.
• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $378k (5.3% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $378k (5.3% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($3k loan paydown + $164 appreciation (0.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Madison School District (rural): math 20% / reading 50% proficiency, ranked #145 of 171 in NH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Madison Elementary School (math 22% / reading 42%, grade F, #190 of 263 statewide, top 75%, 124 students, 39% FRL).
• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.0% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.