48 Spa Rd · Danbury, NH 03230

$225,800

2 bd · 1.0 ba · 998 sqft · Manufactured public records · 29 Days on market

Built 1965 5.10 ac lot

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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 +25.2/30.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

-Set on over 5 acres of towering pines, 603ft. of frontage, and at the end of a private winding drive is this 3 BR mobile home with additions. To include updated bath with washer and dryer, big country kitchen with lots of oak cabinets, DR, wide open LR. Best Value on the Market.

Key facts

• Privacy
• No traffic
• Dead end road

Tags

• 5.1 ACRE PARCEL
• DEAD END ROAD
• PRIVACY
• NO TRAFFIC
• NEAR RAGGED MOUNTAIN SKI AREA
• NEAR INDEPENDENCE PARK

Property features AI

Exterior

• Parking: Gravel driveway
• Utilities: Dug well water source; Private 1,000‑gallon septic; Circuit breaker electrical service; Fiber optic internet available; Cable available
• Home design: Single-level ranch-style/manufactured home with addition; Existing structure; Entry and living areas on one level
• Construction: Built in 1965; Steel and wood frame construction; T1-11 exterior siding; Metal roof
• Exterior features: Country setting; Level lot; Wooded; Near skiing; Rural; Gravel driveway; Road frontage on a public dead-end road (603' frontage length)

Interior

• Kitchen: Kitchen (14 x 9.6); Gas range; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms (both on main level)
• Flooring: Tile; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Propane heating; Hot air heat
• Interior features: Six total rooms; Laundry room on main level
• Laundry & utility: Washer and dryer; Main-level laundry room (7.4 x 8.7)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $226k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $226k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Newfound Area School District (rural): math 35% / reading 48% proficiency, ranked #61 of 98 in NH (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 380 units permitted in Merrimack County in 2024 (28 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Merrimack County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $90k; list at $226k implies a 151% gain — meaningful room to come down on a strong offer.

Recommended offer $222,413 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.11% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.62%
• DSCR: 1.43
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 3.46×
• Total profit: $155,231
• Equity at exit: $203,419

10-year hold

• IRR: 27.1%
• Equity multiple: 7.83×
• Total profit: $431,712
• Equity at exit: $438,680

Cash invested: $63,224 (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 03230

• Home prices YoY: 33.5%
• Active inventory: 16
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,184
• Tax from tax record: −$190 /mo · $2,281/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $507

Break-even live

Break-even rent $1,859

Max offer price $225,800

Occupancy floor 75%

Sensitivity live

Price	-10% $635	-5% $571	+0% $507	+5% $443	+10% $379
Rent	-10% $309	-5% $408	+0% $507	+5% $605	+10% $704
Rate	-1.0pp $620	-0.5pp $564	base $507	+0.5pp $448	+1.0pp $389

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: $56,450
• Closing costs: $6,774
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
274 Ragged Mountain Hwy Danbury, NH	1.0	1.0	900	$2,500	$2.78	44d	1	1.17mi

Listing history 19 events

1. 2026-06-21
   days on market $225,800 Active 29 DOM
2. 2026-06-18
   days on market $225,800 Active 27 DOM
3. 2026-06-17
   days on market $225,800 Active 26 DOM
4. 2026-06-16
   days on market $225,800 Active 25 DOM
5. 2026-06-15
   days on market $225,800 Active 24 DOM
6. 2026-06-13
   days on market $225,800 Active 22 DOM
7. 2026-06-12
   days on market $225,800 Active 21 DOM
8. 2026-06-09
   days on market $225,800 Active 18 DOM
9. 2026-06-08
   days on market $225,800 Active 17 DOM
10. 2026-06-07
    days on market $225,800 Active 16 DOM
11. 2026-06-07
    days on market $225,800 Active 15 DOM
12. 2026-06-04
    days on market $225,800 Active 12 DOM
13. 2026-06-02
    days on market $225,800 Active 11 DOM
14. 2026-06-01
    days on market $225,800 Active 10 DOM
15. 2026-05-31
    days on market $225,800 Active 9 DOM
16. 2026-05-22
    listed $225,800 Active
17. 2006-09-20
    soldstatus $90,000 280-char remark

    Show marketing remark (280 chars)

    -Set on over 5 acres of towering pines, 603ft. of frontage, and at the end of a private winding drive is this 3 BR mobile home with additions. To include updated bath with washer and dryer, big country kitchen with lots of oak cabinets, DR, wide open LR. Best Value on the Market.

18. 2006-09-13
    historical 280-char remark

    Show marketing remark (280 chars)

    -Set on over 5 acres of towering pines, 603ft. of frontage, and at the end of a private winding drive is this 3 BR mobile home with additions. To include updated bath with washer and dryer, big country kitchen with lots of oak cabinets, DR, wide open LR. Best Value on the Market.

19. 2006-06-15
    listed $109,900 280-char remark

    Show marketing remark (280 chars)

    -Set on over 5 acres of towering pines, 603ft. of frontage, and at the end of a private winding drive is this 3 BR mobile home with additions. To include updated bath with washer and dryer, big country kitchen with lots of oak cabinets, DR, wide open LR. Best Value on the Market.

ⓘ 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: $2,281 · $190/mo
• Projected year-2 tax: $3,602 · $300/mo
• Expected delta: +$1,321/yr (+$110/mo · 57.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$12,648
• − Property taxes: −$2,281
• − Insurance: −$1,129
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$6,569
• Taxable income: $2,573
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $5,463/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: Newfound Area School District
• NCES district ID: 3305220
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $53,994
• Composite: 36.07/100
• National rank: #4766
• State rank: #61 of 98 in NH

Livability — Danbury

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,539

Population outlook (Merrimack County) Hauer SSP2

• Today (2025): 151,287 people
• By 2030: 151,867 · +0.4%
• By 2040: 149,927 · -0.9%
• By 2050: 144,081 · -4.8%
• By 2075: 132,018 · -12.7%
• By 2100: 111,733 · -26.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 11% Romanian 2% Slovak 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Merrimack

• 2024 margin: Lean D (+5.2) · D 52.1% · R 46.9% · Other 1.0%
• 2008→2024 swing: -8.7pp toward R · 2008: 13.9pp · 2024: 5.2pp
• All cycles: 2024: D+5.2 2020: D+9.8 2016: D+3.1 2012: D+12.7 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 106.24%
• Current HPI: 423.6878
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+105.5% since first listed

4 events — show timeline

• 2026-05-22 Listed $225,800 PrimeMLS
• 2006-09-20 Sold (MLS) $90,000 PrimeMLS
• 2006-09-13 Delisted — PrimeMLS
• 2006-06-15 Listed $109,900 PrimeMLS

Property tax history

+0.9%/yr

Latest (2024): $2,281 · +10.0% YoY. Source: county tax records.