35 Valley Dr

Laconia, NH 03249

$619,000D

3 bd · 4.5 ba · 2,335 sqft · Built 1984 · SingleFamily · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,607/mo
• Mortgage (P&I): −$3,246
• Tax + insurance: −$790
• HOA: −$0
• Vac / Maint / Mgmt: −$547
• Net cashflow: $-1,977/mo
• Annual: $-23,724/yr
• Cap rate: 2.46%
• Cash-on-cash: -13.69%
• DSCR: 0.39
• 1% rule: 0.42%
• Cash to close: $173,320

Investor read

• This is a 3-bed/4.5-bath single-family listed at $619k.
• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (56.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $261k (57.9% below list).
• It's been on market 58 days — a 3% lower offer ($600k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $261k (57.9% below list) — sets the bar for 1% rule.
• In year one you build about $66k of equity ($4k loan paydown + $62k appreciation (10.0% local appreciation)).
• Location reads 79/100 on livability (#20 in NH, #2,314 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, commute F.
• Gilford School District (rural): math 52% / reading 52% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 86 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 27y 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.
• By year 2, paydown + projected appreciation supports a ~$106k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.5% vs local median 1.8% in Laconia — 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 do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 58% concession, seller financing, or rate buy-down credit?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.