22 S Mountain Dr Unit 401/403

Lincoln, NH 03251

$27,900C-

2 bd · 2.0 ba · 1,141 sqft · Built 2021 · Timeshare · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $16,159/mo
• Mortgage (P&I): −$146
• Tax + insurance: −$46
• HOA: −$87
• Vac / Maint / Mgmt: −$3,393
• Net cashflow: $12,486/mo
• Annual: $149,832/yr
• Cap rate: 543.33%
• Cash-on-cash: 1917.97%
• DSCR: 86.34
• 1% rule: 57.92%
• Cash to close: $7,812

Investor read

• This is a 2-bed/2.0-bath timeshare listed at $28k.
• At list price, monthly cash flow is $12k ($150k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $28k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $805 of equity ($193 loan paydown + $612 appreciation (2.2% local appreciation)).
• Location reads 68/100 on livability (#57 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A-, housing A-; Watch: health & safety C-, schools D+, amenities F.
• Lincoln-Woodstock School District (rural): math 40% / reading 40% proficiency, ranked #140 of 171 in NH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y 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.
• Current owner paid $14k; list at $28k implies a 92% gain — meaningful room to come down on a strong offer.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 543.3% vs local median 4.9% in Lincoln — 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.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.