1338 Woodbury Ave #9 · Portsmouth, NH 03801

$100,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 14 Days on market

Built 1980 Est $139k · 28% under $600/mo HOA · 21% of rent

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Why this score? — see what drove the A- 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.8/10.0
• Livability +4.3/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

First showings at the Open House on Saturday, May 30, 2026, 10am. Location meets affordability in this Portsmouth-area home! Tucked away in a quiet corner of a small community just minutes from downtown, this property offers a fantastic, budget-friendly alternative to renting, allowing you to move right in and build equity with a few updates. The home features an updated roof, a well-maintained furnace, and a four-year-old hot water heater—and all appliances are included. Outside, you'll find a fully fenced, private backyard complete with a deck and a spacious storage shed. This must-see home has a monthly park rent of $545 (see attached Rider) and allows dogs with restrictions (see

Key facts

• Built 1980
• Listed 14 days

Property features AI

Finance

• Other: Mobile co-op approved and park-approved; Unit/Lot number 9
• HOA & community: Monthly community fee of $545 covering trash and park rent; One-time buy-in fee of $200 (park fees / buy-in); One-time additional park fee of $75; Association provides trash removal

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; 100 Amp service with circuit breakers; High-speed internet available; Cable available; Liquid propane (LP) gas available
• Home design: Manufactured home (Manuf/Mobile); Single-story entry (all main rooms listed on level 1); Beige exterior color; Metal roof
• Construction: Built in 1980; Metal siding; Manufactured home structure
• Exterior features: Leased lot; Paved driveway; Located in a mobile home cooperative (Woodbury Cooperative)

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: Bedroom on level 1
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom on level 1
• Heating & cooling: Forced air heat; Kerosene heat; Oil heat
• Interior features: 4 total rooms; Bonus room; Living room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Cap rate 18.4% vs local median 1.9% in Portsmouth — 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 86/100 on livability (#5 in NH, #354 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: cost of living F.
• Portsmouth School District (suburban): math 60% / reading 72% proficiency, ranked #13 of 98 in NH (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.4%/yr); 157 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• This rent runs 32% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $100,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 2.80% ✓
• Cap rate: 18.36%
• Cash-on-cash: 43.10%
• DSCR: 2.92
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $139,048
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1338 Woodbury Ave #13	0.00mi	1/1.0 (-1)	630 (-14%)	1mo	$157,000	$249	72
106 Oriental Gdns	0.63mi	2/1.0	732 (+0%)	17mo	$140,000	$191	56
305 Oriental Gdns	0.58mi	2/1.0	784 (+8%)	14mo	$125,000	$159	48
301 Oriental Gdns	0.64mi	2/1.0	640 (-12%)	15mo	$108,000	$169	37

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 · 4.41% rent growth · sell at horizon

5-year hold

• IRR: 42.2%
• Equity multiple: 2.87×
• Total profit: $52,246
• Equity at exit: $14,910

10-year hold

• IRR: 49.2%
• Equity multiple: 6.23×
• Total profit: $146,479
• Equity at exit: $8,646

Cash invested: $28,000 (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 03801

• Rents YoY: 4.4%
• Active inventory: 157
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,804 high
• Mortgage (P&I): −$524
• Tax from tax record: −$43 /mo · $520/yr
• Insurance: −$42
• HOA: −$600
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $1,006

Break-even live

Break-even rent $1,531

Max offer price $100,000

Occupancy floor 59%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Concord Way Portsmouth, NH	2.0	1.0	684	$2,600	$3.80	43d	1	0.93mi
67 Porpoise Way Portsmouth, NH	2.0	1.0	684	$3,700	$5.41	1d	1	0.93mi
23 Concord Way Portsmouth, NH	2.0	1.0	684	$2,300	$3.36	10d	1	0.99mi
35 Hodgdon Way Portsmouth, NH	2.0	1.0–2.0	717	$3,705	$5.17	1d	20	1.23mi
823 Islington St Unit 823-2 Portsmouth, NH	1.0	1.0	750	$2,200	$2.93	5d	1	1.36mi
314 Islington St #5 Portsmouth, NH	1.0	1.0	624	$2,600	$4.17	5d	1	1.38mi
238 Deer St #205 Portsmouth, NH	1.0	1.0	498	$2,400	$4.82	43d	1	1.40mi
185 Madison St #1 Portsmouth, NH	1.0	1.0	634	$2,500	$3.94	4d	1	1.44mi
188 Madison St Portsmouth, NH	1.0–2.0	1.0	742	$2,600	$3.50	1d	1	1.45mi
7 Portwalk Pl Portsmouth, NH	2.0	1.0–2.0	881	$5,045	$5.73	1d	14	1.48mi
406 The Hl Portsmouth, NH	1.0	1.5	750	$2,350	$3.13	18d	1	1.49mi
406 The Hl Apt 1 Portsmouth, NH	1.0	1.0	750	$2,295	$3.06	20d	1	1.49mi

HOA detail

• Monthly dues: $600 · $7,200/yr
• Likely covers: water

Listing history 9 events

1. 2026-06-13
   statusdays on market $100,000 Pending 14 DOM
2. 2026-06-09
   days on market $100,000 Active 10 DOM
3. 2026-06-08
   days on market $100,000 Active 9 DOM
4. 2026-06-07
   days on market $100,000 Active 8 DOM
5. 2026-06-04
   days on market $100,000 Active 5 DOM
6. 2026-06-03
   days on market $100,000 Active 4 DOM
7. 2026-06-02
   days on market $100,000 Active 3 DOM
8. 2026-06-01
   days on market $100,000 Active 2 DOM
9. 2026-05-26
   historical $100,000

ⓘ 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: $520 · $43/mo
• Projected year-2 tax: $1,350 · $112/mo
• Expected delta: +$830/yr (+$69/mo · 159.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,648
• − Mortgage interest: −$5,602
• − Property taxes: −$520
• − Insurance: −$500
• − Repairs & maintenance: −$2,692
• − Management: −$2,692
• − HOA: −$7,200
• − Depreciation: −$2,909
• Taxable income: $11,534
• Est. tax owed @ 24.0%: −$2,768
• After-tax cash flow: $9,301/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: Portsmouth School District
• NCES district ID: 3305820
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 72% ▼ -3.00%
• Median HH income: $67,302
• Composite: 57.66/100
• National rank: #1060
• State rank: #13 of 98 in NH

Livability — Portsmouth

• Score: 86/100
• State rank: #5
• US rank: #354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portsmouth, NH
• County: Rockingham County · 137,526 people
• City population: 23,484
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 23,484
• Household income: $106,756
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 843.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Asian 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 5% Slovak 5% Romanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 91% English-only · Other Indo-European 3% Spanish 2% Chinese 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -281.76%
• Current HPI: 383.8843
• Rent YoY: ▲ 4.41%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Coming Soon $100,000 PrimeMLS

Property tax history

+5.8%/yr

Latest (2025): $520 · +3.0% YoY. Source: county tax records.