21 Auburndale lane Ln

Auburn, NH 03032

$575,000F

5 bd · 2.0 ba · 2,843 sqft · Built 1970 · Other · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,710/mo
• Mortgage (P&I): −$3,015
• Tax + insurance: −$811
• HOA: −$0
• Vac / Maint / Mgmt: −$569
• Net cashflow: $-1,686/mo
• Annual: $-20,231/yr
• Cap rate: 2.77%
• Cash-on-cash: -12.57%
• DSCR: 0.44
• 1% rule: 0.47%
• Cash to close: $161,000

Investor read

• This is a 5-bed/2.0-bath other listed at $575k.
• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (51.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (52.9% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $271k (52.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Auburn School District (rural): math 45% / reading 55% proficiency, ranked #25 of 98 in NH (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 29 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

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?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.