15 Maple View Dr

Bradford, NH 03221

$405,000B+

3 bd · 2.0 ba · 1,877 sqft · Built 1988 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,250/mo
• Mortgage (P&I): −$2,124
• Tax + insurance: −$806
• HOA: −$0
• Vac / Maint / Mgmt: −$1,102
• Net cashflow: $1,218/mo
• Annual: $14,615/yr
• Cap rate: 9.90%
• Cash-on-cash: 12.89%
• DSCR: 1.57
• 1% rule: 1.30%
• Cash to close: $113,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $405k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $405k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#62 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A, housing A-; Watch: employment C-, health & safety C-, amenities F.
• Kearsarge Regional School District (rural): math 44% / reading 60% proficiency, ranked #30 of 98 in NH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 19 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).
• Merrimack County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 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 $260k; list at $405k implies a 56% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $113k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 9.9% vs local median 2.6% in Bradford — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.