1 Second St

Windham, NH 03087

$285,000C-

2 bd · 1.5 ba · 576 sqft · Built 1995 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,721/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$322
• HOA: −$17
• Vac / Maint / Mgmt: −$572
• Net cashflow: $316/mo
• Annual: $3,793/yr
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• 1% rule: 0.95%
• Cash to close: $79,800

Investor read

• This is a 2-bed/1.5-bath single-family listed at $285k.
• At list price, monthly cash flow is $316 ($4k/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 $272k (4.5% below list).
• It's been on market 43 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $272k (4.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Windham School District (rural): math 64% / reading 74% proficiency, ranked #8 of 98 in NH (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Golden Brook Elementary School (math 64% / reading 65%, grade B, #26 of 263 statewide, top 11%, 1,098 students, 3% FRL) — zoned schools at 3% FRL track the district average.
• Market conditions: 64 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• 3 sale attempts since 20y 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 $31k; list at $285k implies a 819% 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.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• 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.
• 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.