130 Eagle Dr

Rochester, NH 03867

$189,900D-

2 bd · 2.0 ba · 1,203 sqft · Built 2002 · Manufactured · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,859/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$344
• HOA: −$720
• Vac / Maint / Mgmt: −$390
• Net cashflow: $-591/mo
• Annual: $-7,089/yr
• Cap rate: 2.56%
• Cash-on-cash: -13.33%
• DSCR: 0.41
• 1% rule: 0.98%
• Cash to close: $53,172

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $190k.
• At list price, monthly cash flow is $-591 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $86k (55.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (2.1% below list).
• It's been on market 56 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (55.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#8 in NH, #698 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities C-.
• Rochester School District (suburban): math 27% / reading 35% proficiency, ranked #83 of 98 in NH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 39% of rent.
• Market conditions: Rents rising fast (+4.2%/yr); 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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 $119k; list at $190k implies a 60% gain — meaningful room to come down on a strong offer.
• Cap rate 2.6% vs local median 3.3% in Rochester — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 55% 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.
• 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.