73 Megan Dr · Manchester, NH 03109

$549,000

3 bd · 2.0 ba · 1,536 sqft · SingleFamily public records · 3 Days on market

Built 1993 7,405 sqft lot $357/sqft · 29% above area Est $585k · 6% under

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Why this score? — see what drove the B- 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 +30.0/30.0
• ARV discount +10.3/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NOTHING TO DO! ! ! ! Move right into this LARGE Colonial with 3-4 BRs, 2 baths, fireplace, hardwood, and MUCH MORE!! GREAT neighborhood, large fenced rear yard with pool, house is in immaculate condition!! THIS WILL NOT LAST!!!

Key facts

• Finished basement
• Updated roof
• Fully fenced yard

Tags

• HARDWOOD FLOORS
• FINISHED BASEMENT
• FULLY FENCED YARD
• UPDATED ROOF
• REPLACEMENT WINDOWS
• UPDATED HEATING SYSTEM

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable internet available
• Home design: Colonial style; Existing construction; Facing direction: Unknown
• Construction: Built in 1993; Other construction materials; Shingle (architectural) roof
• Exterior features: Paved driveway; Lot features: Other

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 9 total rooms; Basement with walk-up access and bulkhead

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $549k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $549k).
• Cap rate 11.2% vs local median 3.1% in Manchester — 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 83/100 on livability (#10 in NH, #879 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Manchester School District (urban): math 14% / reading 27% proficiency, ranked #96 of 98 in NH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 35 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $312k; list at $549k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $549,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.37% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.63%
• DSCR: 1.78
• GRM: 6.1

CMA / ARV

• ARV (median comp): $585,495
• List price: $549,000
• Delta: -6.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Megan Dr	0.04mi	3/1.5	1,482 (-4%)	14mo	$535,000	$361	79
3036 Bodwell Rd	0.09mi	3/1.5	1,632 (+6%)	7mo	$520,000	$319	77
198 Megan Dr	0.11mi	3/1.5	1,632 (+6%)	9mo	$550,000	$337	75
95 Windflower Dr	0.16mi	3/1.5	1,632 (+6%)	7mo	$519,000	$318	74
361 Aaron Dr	0.24mi	3/2.0	1,632 (+6%)	7mo	$560,000	$343	72
286 Aaron Dr	0.21mi	3/1.5	1,632 (+6%)	7mo	$567,000	$347	72
177 Megan Dr	0.13mi	3/1.5	1,344 (-12%)	8mo	$485,000	$361	65
328 Aaron Dr	0.21mi	3/2.0	1,384 (-10%)	13mo	$420,777	$304	63
1465 Bodwell Rd #9	0.63mi	3/2.5	1,658 (+8%)	14mo	$489,000	$295	44
1425 Bodwell Rd #1	0.71mi	3/1.0	1,712 (+12%)	10mo	$403,500	$236	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $54,946
• Equity at exit: $81,858

10-year hold

• IRR: 18.3%
• Equity multiple: 2.52×
• Total profit: $233,244
• Equity at exit: $47,467

Cash invested: $153,720 (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 03109

• Home prices YoY: -19.7%
• Active inventory: 35
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $7,499 medium
• Mortgage (P&I): −$2,879
• Tax from tax record: −$558 /mo · $6,690/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,575
• Net cashflow: $2,259

Break-even live

Break-even rent $4,640

Max offer price $549,000

Occupancy floor 65%

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Forest Hill Way Manchester, NH	4.0	2.5	1970	$7,499	$3.81	14d	1	0.68mi

Listing history 8 events

1. 2026-05-16
   status Pending 1070-char remark
2. 2026-05-13
   listed $549,000 Active 1070-char remark
3. 2007-06-06
   soldstatus $312,400
4. 2007-06-04
   soldstatus $312,400 227-char remark

   Show marketing remark (227 chars)

   NOTHING TO DO! ! ! ! Move right into this LARGE Colonial with 3-4 BRs, 2 baths, fireplace, hardwood, and MUCH MORE!! GREAT neighborhood, large fenced rear yard with pool, house is in immaculate condition!! THIS WILL NOT LAST!!!

5. 2007-04-02
   listed $309,900 227-char remark

   Show marketing remark (227 chars)

   NOTHING TO DO! ! ! ! Move right into this LARGE Colonial with 3-4 BRs, 2 baths, fireplace, hardwood, and MUCH MORE!! GREAT neighborhood, large fenced rear yard with pool, house is in immaculate condition!! THIS WILL NOT LAST!!!

6. 2005-04-29
   soldstatus $289,933
7. 2005-04-28
   soldstatus $289,900

   Show marketing remark (192 chars)

   MINT CONDITION - IN SOUGHT AFTER NEIGHBORHOOD - HARDWOOD/TITLE FLOORS THRU OUT - FENCED IN YARD W/ ABV GROUND POOL AND DECK-IRR SYS- CENTRAL AIR - MOVE IN NOTHING TO DO - CALL NOW FOR SHOWING.

8. 2005-01-10
   listed $289,900

   Show marketing remark (192 chars)

   MINT CONDITION - IN SOUGHT AFTER NEIGHBORHOOD - HARDWOOD/TITLE FLOORS THRU OUT - FENCED IN YARD W/ ABV GROUND POOL AND DECK-IRR SYS- CENTRAL AIR - MOVE IN NOTHING TO DO - CALL NOW FOR SHOWING.

ⓘ 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: $6,690 · $558/mo
• Projected year-2 tax: $9,329 · $777/mo
• Expected delta: +$2,639/yr (+$220/mo · 39.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,988
• − Mortgage interest: −$30,753
• − Property taxes: −$6,690
• − Insurance: −$2,745
• − Repairs & maintenance: −$7,199
• − Management: −$7,199
• − Depreciation: −$15,971
• Taxable income: $19,431
• Est. tax owed @ 24.0%: −$4,664
• After-tax cash flow: $22,444/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: Manchester School District
• NCES district ID: 3304590
• Math proficiency: 14% ▼ -10.00%
• Reading proficiency: 27% ▼ -6.00%
• Median HH income: $54,096
• Composite: 18.67/100
• National rank: #8886
• State rank: #96 of 98 in NH

Livability — Manchester

• Score: 83/100
• State rank: #10
• US rank: #879

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime C Employment C+ Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manchester, NH
• City population: 110,172
• Population (ZIP): 10,118

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 412,771 people
• By 2030: 410,974 · -0.4%
• By 2040: 399,959 · -3.1%
• By 2050: 381,542 · -7.6%
• By 2075: 339,855 · -17.7%
• By 2100: 289,270 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Asian 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 11% Romanian 3% Russian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 91% English-only · French/Haitian/Cajun 4% Other Indo-European 3% German/W. Germanic 1%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 50.9% · R 48.0% · Other 1.0%
• 2008→2024 swing: -0.9pp no change · 2008: 3.8pp · 2024: 2.9pp
• All cycles: 2024: D+2.9 2020: D+7.7 2016: R+0.2 2012: D+1.7 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.66%
• Current HPI: 353.7732
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+89.4% since first listed

8 events — show timeline

• 2026-05-16 Pending — PrimeMLS
• 2026-05-13 Listed $549,000 PrimeMLS
• 2007-06-06 Sold (Public Records) $312,400 Public Records
• 2007-06-04 Sold (MLS) $312,400 PrimeMLS
• 2007-04-02 Listed $309,900 PrimeMLS
• 2005-04-29 Sold (Public Records) $289,933 Public Records
• 2005-04-28 Sold (MLS) $289,900 PrimeMLS
• 2005-01-10 Listed $289,900 PrimeMLS

Property tax history

+2.4%/yr

Latest (2024): $6,690 · +3.8% YoY. Source: county tax records.