557 Fernwood Farms Rd · Canaan, NH 03741

$259,900

3 bd · 2.0 ba · 1,187 sqft · Manufactured public records · 38 Days on market

Built 1970 2.18 ac lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +3.8/10.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.4/5.0

Listing remarks MLS

Investor Opportunity with this two family home. Or live in one unit and collect rents to help pay your mortgage. There is a large 2 bedroom unit plus a one bedroom unit. Renovated in 2018 and the new apartment was added also then. Newer Rinnai propane heat, vinyl siding, metal roof and more. Country location with private septic and a drilled well. The driveway is steep.

Key facts

• Outdoor storage
• Spacious living area
• Separate unit

Tags

• MULTI-FAMILY MOBILE HOME
• SPACIOUS LIVING AREA
• ENTRY ROOM
• STORAGE SHED
• OUTDOOR STORAGE
• SEPARATE UNIT

Property features AI

Finance

• Other: Two-unit property with annual leases; Total of 2 units: one 2-bedroom unit and one 1-bedroom unit; Unit 1: 5 rooms, annual lease term; Unit 2: 3 rooms

Exterior

• Parking: Gravel driveway
• Utilities: Drilled private well; Private sewer; Electric service with circuit breakers (NH Electric Coop); Propane (LP/bottle) fuel; Cable internet available (Comcast); Internet — cable
• Home design: Manufactured multi-family home with addition; Single-story manufactured structure; White exterior color
• Construction: Built in 1970; Wood frame construction; Vinyl siding; Metal roof; Manufactured home foundation
• Exterior features: Country setting; Sloping lot; Dirt road frontage (104 ft); Gravel driveway

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: One unit with 2 bedrooms; One unit with 1 bedroom
• Flooring: Carpet; Laminate; Vinyl; Wood
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Propane heating; Vented gas heater; Hot water heat; No central cooling
• Interior features: Electric water heater; Unit 1 and Unit 2 each include a gas range and refrigerator
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $260k.

Deal economics

• At list price, monthly cash flow is $36 ($432/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 $223k (14.3% below list).
• Recommended offer: $223k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.5% in Canaan — 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.

Location & tenants

• Location reads 48/100 on livability (#95 in NH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, amenities F, commute F.
• Mascoma Valley Reg School District (rural): math 36% / reading 50% proficiency, ranked #56 of 98 in NH (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Canaan Elementary School (math 52% / reading 52%, grade C-, #82 of 263 statewide, top 34%, 225 students, 33% FRL).
• Market conditions: 42 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Grafton County population projected at -13% 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 $73k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $163k; list at $260k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $222,710 (14.3% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.98×
• Total profit: $143,831
• Equity at exit: $234,139

10-year hold

• IRR: 21.8%
• Equity multiple: 6.80×
• Total profit: $421,732
• Equity at exit: $504,929

Cash invested: $72,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 56 Moderately Landlord-Leaning
• State New Hampshire: 56 Moderately Landlord-Leaning · D+1
• County: — inherits STATE
• City: — inherits STATE

Has just-cause statute; 30-day notice; landlord-leaning vs. neighbors.

Methodology + full state rankings →

ZIP-level market 03741

• Home prices YoY: 17.5%
• Active inventory: 42
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,227 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$252 /mo · $3,026/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $36

Break-even live

Break-even rent $2,182

Max offer price $259,900

Occupancy floor 93%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $259,900 Active 38 DOM
2. 2026-06-18
   days on market $259,900 Active 37 DOM
3. 2026-06-17
   days on market $259,900 Active 36 DOM
4. 2026-06-16
   days on market $259,900 Active 35 DOM
5. 2026-06-15
   days on market $259,900 Active 34 DOM
6. 2026-06-14
   days on market $259,900 Active 32 DOM
7. 2026-06-12
   days on market $259,900 Active 31 DOM
8. 2026-06-09
   days on market $259,900 Active 28 DOM
9. 2026-06-08
   days on market $259,900 Active 27 DOM
10. 2026-06-07
    days on market $259,900 Active 26 DOM
11. 2026-06-05
    days on market $259,900 Active 23 DOM
12. 2026-06-02
    days on market $259,900 Active 21 DOM
13. 2026-06-01
    days on market $259,900 Active 20 DOM
14. 2026-05-31
    days on market $259,900 Active 19 DOM
15. 2026-05-30
    days on market $259,900 Active 18 DOM
16. 2026-05-12
    listed $259,900 Active 799-char remark
17. 2022-11-30
    soldstatus $163,000 Closed 372-char remark

    Show marketing remark (453 chars)

    Affordable living! Renovated in 2018, this home was originally a mobile home with an addition on a slab foundation. There is a new apartment that was added also in 2018. Updates include, Rinnai propane heat, vinyl siding, metal roof and more. Live in one unit and collect rents to help pay your mortgage. There is a large 2-bedroom unit plus a one-bedroom unit. Nice yard. Country location with private septic and a drilled well. The driveway is steep.

18. 2022-11-30
    soldstatus $163,000 Closed

    Show marketing remark (453 chars)

    Affordable living! Renovated in 2018, this home was originally a mobile home with an addition on a slab foundation. There is a new apartment that was added also in 2018. Updates include, Rinnai propane heat, vinyl siding, metal roof and more. Live in one unit and collect rents to help pay your mortgage. There is a large 2-bedroom unit plus a one-bedroom unit. Nice yard. Country location with private septic and a drilled well. The driveway is steep.

19. 2022-11-03
    status Pending

    Show marketing remark (372 chars)

    Investor Opportunity with this two family home. Or live in one unit and collect rents to help pay your mortgage. There is a large 2 bedroom unit plus a one bedroom unit. Renovated in 2018 and the new apartment was added also then. Newer Rinnai propane heat, vinyl siding, metal roof and more. Country location with private septic and a drilled well. The driveway is steep.

20. 2022-11-03
    status Pending 372-char remark

    Show marketing remark (372 chars)

    Investor Opportunity with this two family home. Or live in one unit and collect rents to help pay your mortgage. There is a large 2 bedroom unit plus a one bedroom unit. Renovated in 2018 and the new apartment was added also then. Newer Rinnai propane heat, vinyl siding, metal roof and more. Country location with private septic and a drilled well. The driveway is steep.

21. 2022-07-28
    price $169,900

    Show marketing remark (372 chars)

    Investor Opportunity with this two family home. Or live in one unit and collect rents to help pay your mortgage. There is a large 2 bedroom unit plus a one bedroom unit. Renovated in 2018 and the new apartment was added also then. Newer Rinnai propane heat, vinyl siding, metal roof and more. Country location with private septic and a drilled well. The driveway is steep.

22. 2022-07-28
    price $169,900 372-char remark

    Show marketing remark (372 chars)

    Investor Opportunity with this two family home. Or live in one unit and collect rents to help pay your mortgage. There is a large 2 bedroom unit plus a one bedroom unit. Renovated in 2018 and the new apartment was added also then. Newer Rinnai propane heat, vinyl siding, metal roof and more. Country location with private septic and a drilled well. The driveway is steep.

23. 2022-05-10
    listed $179,900 Active 372-char remark

    Show marketing remark (453 chars)

    Affordable living! Renovated in 2018, this home was originally a mobile home with an addition on a slab foundation. There is a new apartment that was added also in 2018. Updates include, Rinnai propane heat, vinyl siding, metal roof and more. Live in one unit and collect rents to help pay your mortgage. There is a large 2-bedroom unit plus a one-bedroom unit. Nice yard. Country location with private septic and a drilled well. The driveway is steep.

24. 2022-05-10
    listed $179,900 Active

    Show marketing remark (453 chars)

    Affordable living! Renovated in 2018, this home was originally a mobile home with an addition on a slab foundation. There is a new apartment that was added also in 2018. Updates include, Rinnai propane heat, vinyl siding, metal roof and more. Live in one unit and collect rents to help pay your mortgage. There is a large 2-bedroom unit plus a one-bedroom unit. Nice yard. Country location with private septic and a drilled well. The driveway is steep.

25. 2018-08-28
    soldstatus $80,000
26. 2008-04-23
    soldstatus $74,500
27. 2008-04-22
    soldstatus $74,500
28. 2008-03-19
    historical
29. 2007-11-01
    soldstatus $115,000
30. 2007-05-30
    listed $83,000
31. 1997-05-30
    soldstatus $15,500
32. 1997-05-30
    soldstatus $15,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NH · Partial reset (capped growth)

• Current annual tax: $3,026 · $252/mo
• Projected year-2 tax: $4,346 · $362/mo
• Expected delta: +$1,320/yr (+$110/mo · 43.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 6 d/yr ≥91°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,725
• − Mortgage interest: −$14,558
• − Property taxes: −$3,026
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,138
• − Management: −$2,138
• − Depreciation: −$7,561
• Taxable loss: −$3,996
• Est. tax savings @ 24.0%: +$959
• After-tax cash flow: $1,391/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mascoma Valley Reg School District
• NCES district ID: 3304680
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $63,357
• Composite: 38.2/100
• National rank: #4256
• State rank: #56 of 98 in NH

Livability — Canaan

• Score: 48/100
• State rank: #95
• US rank: #26162

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing F Health & safety D User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,102

Population outlook (Grafton County) Hauer SSP2

• Today (2025): 88,798 people
• By 2030: 87,131 · -1.9%
• By 2040: 82,000 · -7.7%
• By 2050: 77,064 · -13.2%
• By 2075: 68,769 · -22.6%
• By 2100: 61,631 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Black 3% Asian 2%
• Common ancestry: Lithuanian 11% Slovak 5% Subsaharan African 3%
• Foreign-born: 2% · China
• Languages at home: 96% English-only · French/Haitian/Cajun 1% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Grafton

• 2024 margin: D (+19.9) · D 59.4% · R 39.4% · Other 1.2%
• 2008→2024 swing: -7.8pp toward R · 2008: 27.7pp · 2024: 19.9pp
• All cycles: 2024: D+19.9 2020: D+24.6 2016: D+19.0 2012: D+23.8 2008: D+27.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 54.12%
• Current HPI: 362.6755
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+1576.8% since first listed

17 events — show timeline

• 2026-05-12 Listed $259,900 PrimeMLS
• 2022-11-30 Sold (MLS) $163,000 PrimeMLS
• 2022-11-30 Sold (MLS) $163,000 PrimeMLS
• 2022-11-03 Pending — PrimeMLS
• 2022-11-03 Pending — PrimeMLS
• 2022-07-28 Price Changed $169,900 PrimeMLS
• 2022-07-28 Price Changed $169,900 PrimeMLS
• 2022-05-10 Listed $179,900 PrimeMLS
• 2022-05-10 Listed $179,900 PrimeMLS
• 2018-08-28 Sold (Public Records) $80,000 Public Records
• 2008-04-23 Sold (Public Records) $74,500 Public Records
• 2008-04-22 Sold (MLS) $74,500 PrimeMLS
• 2008-03-19 Delisted — PrimeMLS
• 2007-11-01 Sold (Public Records) $115,000 Public Records
• 2007-05-30 Listed $83,000 PrimeMLS
• 1997-05-30 Sold (Public Records) $15,500 Public Records
• 1997-05-30 Sold (Public Records) $15,500 Public Records

Property tax history

+3.6%/yr

Latest (2025): $3,026 · +5.5% YoY. Source: county tax records.