15 Park Rd Trlr Park

Haverhill, NH 03785

$103,000C-

3 bd · 2.0 ba · 952 sqft · Built 2017 · Manufactured · Active · 79 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,375/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$172
• HOA: −$350
• Vac / Maint / Mgmt: −$289
• Net cashflow: $24/mo
• Annual: $292/yr
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.05
• 1% rule: 1.33%
• Cash to close: $28,840

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $103k. Condition is rated good.
• At list price, monthly cash flow is $24 ($292/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• It's been on market 79 days — a 6% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($712 loan paydown + $4k appreciation (4.1% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Haverhill Cooperative School District (rural): math 26% / reading 45% proficiency, ranked #78 of 98 in NH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 25% of rent.
• Market conditions: 28 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.