463 Royalston Rd · Troy, NH 03447

$225,000

2 bd · 1.5 ba · 896 sqft · Manufactured public records · 5 Days on market

Built 1983 5.50 ac lot Est $203k · 11% over

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Why this score? — see what drove the D+ 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 +16.0/30.0
• Appreciation +10.0/10.0
• DSCR +4.9/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• ARV discount +2.7/15.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2 Bedroom Mobile Home on 5.5 acres. Enjoy this easy one floor living, easy to maintain property on your own private land. Located just over 2 miles from Route 119 and less that 5 miles from Route 12, great location for commuting.

Key facts

• One-level living
• 5.5 acres
• New flooring

Tags

• ONE-LEVEL LIVING
• 5.5 ACRES
• EASY COMMUTE
• NEW FLOORING
• ADDED INSULATION
• NEW KITCHEN CABINETS

Property features AI

Exterior

• Parking: Detached or attached garage capacity for 1 vehicle; Gravel driveway
• Utilities: Drilled well (private); Private septic; 100 Amp electrical service with circuit breakers; Eversource electric provider; High-speed internet available; Cable and telephone available
• Home design: Single wide mobile home; Blue exterior; Metal roof; Existing construction; Entry level: main level
• Construction: Built in 1983; Aluminum siding; Metal roof
• Exterior features: Country setting with open, rolling terrain; Stream on property; Walking trails and nearby trails (including ATV and snowmobile trails); Wooded areas; Near shopping, skiing, schools, and paths

Interior

• Kitchen: Kitchen
• Bedrooms: Bedroom (main level); Bedroom with bath (main level)
• Flooring: Carpet; Laminate; Vinyl plank
• Bathrooms: One full bathroom (main level); One half bathroom
• Heating & cooling: Oil heat with hot air
• Interior features: Four total rooms; Foyer; Dining room; Living room
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/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 $197k (12.2% below list).
• Recommended offer: $197k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.1% in Troy — 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 65/100 on livability (#75 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Monadnock Regional School District (rural): math 25% / reading 36% proficiency, ranked #82 of 98 in NH (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dr. George S. Emerson Elementary School (math 27% / reading 42%, grade F, #179 of 263 statewide, top 71%, 163 students, 23% FRL).
• Market conditions: 23 active listings in the ZIP; 166 units permitted in Cheshire County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Cheshire County population projected at -18% 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 $63k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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.

Recommended offer $197,438 (12.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
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: 0.88% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.11%
• DSCR: 1.09
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $203,392
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
463 Royalston Rd	0.00mi	2/1.5	924 (+3%)	15mo	$210,000	$227	83

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 25.8%
• Equity multiple: 3.06×
• Total profit: $129,554
• Equity at exit: $202,698

10-year hold

• IRR: 22.7%
• Equity multiple: 6.97×
• Total profit: $375,903
• Equity at exit: $437,126

Cash invested: $63,000 (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 03447

• Home prices YoY: 24.0%
• Active inventory: 23
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,974 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$175 /mo · $2,105/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $111

Break-even live

Break-even rent $1,834

Max offer price $225,000

Occupancy floor 89%

Sensitivity live

Price	-10% $238	-5% $174	+0% $111	+5% $47	+10% $-17
Rent	-10% $-45	-5% $33	+0% $111	+5% $189	+10% $267
Rate	-1.0pp $224	-0.5pp $168	base $111	+0.5pp $52	+1.0pp $-7

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-07
   statusdays on market $225,000 Pending 5 DOM
2. 2026-06-03
   days on market $225,000 Active 2 DOM
3. 2026-06-01
   remarks 699-char remark
4. 2026-06-01
   listed $225,000 Active 1 DOM

ⓘ 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: $2,105 · $175/mo
• Projected year-2 tax: $3,505 · $292/mo
• Expected delta: +$1,400/yr (+$117/mo · 66.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $23,693
• − Mortgage interest: −$12,603
• − Property taxes: −$2,105
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$6,545
• Taxable loss: −$2,477
• Est. tax savings @ 24.0%: +$595
• After-tax cash flow: $1,923/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: Monadnock Regional School District
• NCES district ID: 3304890
• Math proficiency: 25% ▼ -16.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $56,314
• Composite: 27.18/100
• National rank: #7024
• State rank: #82 of 98 in NH

Livability — Troy

• Score: 65/100
• State rank: #75
• US rank: #13189

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,034
• Population (ZIP): 2,317

Population outlook (Cheshire County) Hauer SSP2

• Today (2025): 74,613 people
• By 2030: 72,495 · -2.8%
• By 2040: 66,778 · -10.5%
• By 2050: 60,963 · -18.3%
• By 2075: 49,511 · -33.6%
• By 2100: 39,687 · -46.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 11% Romanian 7% Slovene 4%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5% French/Haitian/Cajun 1%

Political lean MEDSL · Cheshire

• 2024 margin: Lean D (+9.8) · D 54.4% · R 44.6% · Other 1.1%
• 2008→2024 swing: -17.8pp toward R · 2008: 27.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+17.2 2016: D+12.6 2012: D+24.8 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 76.42%
• Current HPI: 394.7824
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+181.2% since first listed

9 events — show timeline

• 2026-06-01 Listed $225,000 PrimeMLS
• 2025-04-04 Sold (Public Records) $210,000 Public Records
• 2025-04-02 Sold (MLS) $210,000 PrimeMLS
• 2025-02-23 Pending — PrimeMLS
• 2025-02-17 Listed $195,000 PrimeMLS
• 2018-06-11 Sold (Public Records) $78,533 Public Records
• 2018-06-08 Sold (MLS) $78,500 PrimeMLS
• 2018-04-06 Pending — PrimeMLS
• 2018-03-27 Listed $80,000 PrimeMLS

Property tax history

+0.5%/yr

Latest (2024): $2,105 · +8.0% YoY. Source: county tax records.