80 Rosegate Farm Dr

Manchester, NH 03109

$699,900D-

3 bd · 3.5 ba · 2,248 sqft · Built 1999 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,270/mo
• Mortgage (P&I): −$3,670
• Tax + insurance: −$1,014
• HOA: −$0
• Vac / Maint / Mgmt: −$1,317
• Net cashflow: $269/mo
• Annual: $3,230/yr
• Cap rate: 6.75%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• 1% rule: 0.90%
• Cash to close: $195,972

Investor read

• This is a 3-bed/3.5-bath single-family listed at $700k.
• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $627k (10.4% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $627k (10.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#10 in NH, #879 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Manchester School District (urban): math 14% / reading 27% proficiency, ranked #96 of 98 in NH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Green Acres School (math 27% / reading 42%, grade F, #179 of 263 statewide, top 71%, 435 students, 22% FRL); Henry J. Mclaughlin Jr. Middle School (math 12% / reading 23%, grade F, #91 of 96 statewide, top 95%, 660 students, 49% FRL); Manchester Memorial High School (math 27% / reading 50%, grade F, #68 of 90 statewide, top 75%, 1,405 students, 34% FRL).
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y 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 $552k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 3.1% in Manchester — 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

• 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.