337 S Main St Unit Interval week 4 January 26-February 2 Unit V05

Wolfeboro, NH 03894

$500C

1 bd · 1.0 ba · 700 sqft · Built 1850 · Condo · Active · 216 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,370/mo
• Mortgage (P&I): −$3
• Tax + insurance: −$1
• HOA: −$63
• Vac / Maint / Mgmt: −$288
• Net cashflow: $1,016/mo
• Annual: $12,193/yr
• Cap rate: 2444.93%
• Cash-on-cash: 8709.41%
• DSCR: 388.52
• 1% rule: 274.06%
• Cash to close: $140

Investor read

• This is a 1-bed/1.0-bath condo listed at $500.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $500).
• It's been on market 216 days — a 12% lower offer ($440) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $440 (12.0% below list) — sets the bar for market timing.
• In year one you build about $53 of equity ($3 loan paydown + $50 appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#51 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Governor Wentworth Reg School District (rural): math 42% / reading 53% proficiency, ranked #47 of 98 in NH (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 70 active listings in the ZIP; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $140 cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 2444.9% vs local median 0.7% in Wolfeboro — 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

• It's been on market 216 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.