84 Caddy Dr

Derry, NH 03079

$270,000D-

2 bd · 1.0 ba · 672 sqft · Built 2025 · Manufactured · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,299/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$173
• HOA: −$500
• Vac / Maint / Mgmt: −$483
• Net cashflow: $-273/mo
• Annual: $-3,272/yr
• Cap rate: 5.08%
• Cash-on-cash: -4.33%
• DSCR: 0.81
• 1% rule: 0.85%
• Cash to close: $75,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $270k.
• At list price, monthly cash flow is $-273 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (17.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (14.9% below list).
• It's been on market 30 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (17.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#13 in NH, #1,420 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, housing A+; Watch: commute F.
• Salem School District (suburban): math 47% / reading 56% proficiency, ranked #28 of 98 in NH (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 22% of rent.
• Market conditions: Rents rising (+2.6%/yr); 113 active listings in the ZIP; high-income renter base; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• 2 sale attempts since 13y 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 $11k; list at $270k implies a 2355% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.1% vs local median 2.3% in Derry — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.