220 Mascoma St #72 · Lebanon, NH 03766

$242,000

2 bd · 1.5 ba · 816 sqft · Condo public records · 13 Days on market

Built 1986 $325/mo HOA · 12% of rent

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Why this score? — see what drove the D+ 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 +14.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.7/10.0
• DSCR +4.6/10.0
• Rent growth +4.2/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A perfect condo unit is ready for you! This bright and inviting home features updated vinyl and carpet flooring, and newer windows throughout. The finished basement den provides the ideal flex space for a home office, workout room, or cozy retreat. For added peace of mind, a brand-new on-demand combination boiler and hot water heater will be installed prior to closing, making this truly a move-in-ready opportunity. Conveniently located in Building 5, you'll enjoy easy access to the community pool and playground just steps from your front door. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this well-maintained condo offers comfort, convenience, and va

Key facts

• Community pool
• Hot water heater
• Playground

Tags

• FINISHED BASEMENT DEN
• ON-DEMAND COMBINATION BOILER
• HOT WATER HEATER
• COMMUNITY POOL
• PLAYGROUND

Property features AI

Finance

• HOA & community: Condo association with monthly fee of $325; Association fee includes landscaping, plowing, and trash; Association amenities include playground, common acreage, and in-ground pool; Association road frontage

Exterior

• Parking: Paved driveway
• Utilities: Public water; Public sewer; Electric service with circuit breakers; High-speed internet available; LP/bottle gas available
• Home design: Condex (condominium/attached unit); Blue exterior; Shingle (architectural) roof; Unit/lot number 72; Built in 1986
• Construction: Wood frame construction with brick exterior and vinyl siding
• Exterior features: Condo development setting; Level lot; Walking trails; Wooded areas nearby; Near shopping, public transportation, and schools; Paved driveway

Interior

• Kitchen: Kitchen/dining on the first floor; Dishwasher; Electric stove; Refrigerator
• Bedrooms: Two bedrooms on the second floor
• Flooring: Carpet; Vinyl plank
• Bathrooms: One full bathroom (second floor); One three-quarter bathroom (first floor)
• Heating & cooling: Hot water heating
• Interior features: Five total rooms; Den (basement); Laundry room (basement)
• Laundry & utility: Washer; Dryer; Basement with interior stair access; Partially finished basement with concrete floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $242k.

Deal economics

• At list price, monthly cash flow is $73 ($874/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $242k).
• Cap rate 6.7% vs local median 2.2% in Lebanon — 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 68/100 on livability (#59 in NH) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety D, amenities F, commute F.
• Lebanon School District (town): math 48% / reading 60% proficiency, ranked #26 of 98 in NH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.6%/yr); 43 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• This rent runs 32% of the median local income ($101k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $205k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $242,000

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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 6.65%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.6% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.64×
• Total profit: $-24,279
• Equity at exit: $36,083

10-year hold

• IRR: 5.1%
• Equity multiple: 1.45×
• Total profit: $30,245
• Equity at exit: $20,924

Cash invested: $67,760 (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 03766

• Home prices YoY: -10.6%
• Rents YoY: 6.6%
• Active inventory: 43
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,673 medium
• Mortgage (P&I): −$1,269
• Tax from tax record: −$344 /mo · $4,129/yr
• Insurance: −$101
• HOA: −$325
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $73

Break-even live

Break-even rent $2,581

Max offer price $242,000

Occupancy floor 92%

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: $60,500
• Closing costs: $7,260
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
195 Mechanic St Unit 107 Lebanon, NH	2.0	2.0	1035	$3,380	$3.27	43d	1	0.62mi
26 Mason St Unit 26B Lebanon, NH	2.0	1.0	1035	$2,500	$2.42	43d	1	1.07mi
4 Meadowbrook Vlg West Lebanon, NH	1.0–2.0	1.0	697	$2,065	$2.96	43d	1	1.17mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-19
   days on market $242,000 Active 13 DOM
2. 2026-06-18
   days on market $242,000 Active 12 DOM
3. 2026-06-17
   days on market $242,000 Active 11 DOM
4. 2026-06-16
   days on market $242,000 Active 10 DOM
5. 2026-06-15
   days on market $242,000 Active 9 DOM
6. 2026-06-14
   days on market $242,000 Active 7 DOM
7. 2026-06-12
   days on market $242,000 Active 6 DOM
8. 2026-06-09
   days on market $242,000 Active 3 DOM
9. 2026-06-08
   days on market $242,000 Active 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $242,000 Active 1 DOM

ⓘ 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: $4,129 · $344/mo
• Projected year-2 tax: $4,702 · $392/mo
• Expected delta: +$573/yr (+$48/mo · 13.9%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $32,078
• − Mortgage interest: −$13,556
• − Property taxes: −$4,129
• − Insurance: −$1,210
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − HOA: −$3,900
• − Depreciation: −$7,040
• Taxable loss: −$2,889
• Est. tax savings @ 24.0%: +$693
• After-tax cash flow: $1,567/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: Lebanon School District
• NCES district ID: 3304230
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 60% ▼ -6.00%
• Median HH income: $56,648
• Composite: 46.7/100
• National rank: #2401
• State rank: #26 of 98 in NH

Livability — Lebanon

• Score: 68/100
• State rank: #59
• US rank: #9879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, NH
• County: Grafton County · 11,195 people
• City population: 11,195
• Metro: Lebanon, NH-VT
• Population (ZIP): 11,195
• Household income: $100,881
• Rent vs Own: 47.6% rent · 52.4% own
• Severe rent burden: 488.0

Population outlook (Grafton County) Hauer SSP2

• Today (2025): 88,798 people
• By 2030: 87,131 · -1.9%
• By 2040: 82,000 · -7.7%
• By 2050: 77,064 · -13.2%
• By 2075: 68,769 · -22.6%
• By 2100: 61,631 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Asian 5% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 9% Slovak 4% Romanian 4%
• Foreign-born: 9% · China, Canada
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Grafton

• 2024 margin: D (+19.9) · D 59.4% · R 39.4% · Other 1.2%
• 2008→2024 swing: -7.8pp toward R · 2008: 27.7pp · 2024: 19.9pp
• All cycles: 2024: D+19.9 2020: D+24.6 2016: D+19.0 2012: D+23.8 2008: D+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.72%
• Current HPI: 368.6264
• Rent YoY: ▲ 6.60%
• Metro: Lebanon, NH-VT
• State GDP YoY: —
• F500 in state: 0

Price history

+18.0% since first listed

3 events — show timeline

• 2026-06-06 Listed $242,000 PrimeMLS
• 2024-03-18 Listed $205,000 PrimeMLS
• 2024-03-18 Sold (MLS) $205,000 PrimeMLS

Property tax history

+6.6%/yr

Latest (2025): $4,129 · +20.5% YoY. Source: county tax records.