9 Mountain Sun Way Unit 22-A · Center Sandwich, NH 03215

$59,499

3 bd · 2.5 ba · 1,800 sqft · Condo · 297 Days on market

Built 1987 $577/mo HOA · 17% of rent

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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 +15.0/30.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Mountain Sun Quartershares offer easy-to-manage ownership at the Waterville Valley Resort at a fraction of the cost! Owners enjoy use of the property one week per month, 13 weeks per year (see attached rotation schedule for A weeks through 2027. All expenses are included in the quarterly condo dues. .. taxes, water, sewer, heat, internet, Friday (turnover) cleanings, everything! Access to the White Mountain Athletic Club and WV Golf Club are included too. The spacious tri-level townhouse floor plan accommodates 9 in 3 bedrooms plus a den, 2.5 baths. Excellent location in complex. This is the only unit without the need to climb exterior stairs to reach the assigned parking spot. Easily walka

Key facts

• $577 HOA
• Built 1987
• Listed 297 days

Tags

• ACCESS TO WV GOLF CLUB
• EASILY WALKABLE TO VILLAGE
• RIDE FREE SHUTTLE BUS

Property features AI

Finance

• Other: Association amenities include building maintenance, common acreage, common heating/cooling, management plan, master insurance, recreation facility, snow removal, and indoor storage; Association documents available (association docs, covenants, deed, plat/grid map, property disclosure, survey, tax map)
• Financial info: Fractional ownership (timeshare) structure
• HOA & community: Condo fees apply; quarterly HOA fee; Quarterly fee covers cable, cooling, electric, heat, hot water, internet, landscaping, plowing, recreation, sewer, taxes, trash, water, condo association fee, HOA fee, building maintenance, common heating/cooling, management plan, master insurance, storage (indoor), and trash removal; One-time buy-in fee required

Exterior

• Parking: Assigned parking (assigned parking #22 at end of building); Paved, common/shared driveway
• Security: Master insurance provided by association
• Utilities: Public water; Public sewer; 200 amp electric service with circuit breakers; Underground utilities; Internet via cable (Spectrum); Cable service (Spectrum); Phone service (Consolidated Comms)
• Home design: Contemporary multi-level condominium; Unit 22-A; Brown exterior; Shingle - asphalt roof; Existing property (built in 1987)
• Construction: Wood frame construction; Wood siding; Built in 1987
• Exterior features: Condo development with landscaped, level grounds; Common acreage (1.83 acres); Walking trails and trail/near trail access; Views and valley setting; Near golf course, paths, and skiing; In-town location

Interior

• Kitchen: Kitchen with electric range; Refrigerator; Microwave; Dishwasher
• Bedrooms: Bedroom on level 2; Bedroom on level 2; Master bedroom suite on level 3
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric baseboard heating; Cooling (other)
• Interior features: Seven total rooms; Foyer; Family room; Living room; Dining room; Master bedroom suite; Timeshare/fractional ownership (13 weeks) — resort property
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $59k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.5% vs local median 4.2% in Center Sandwich — 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 70/100 on livability (#47 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, health & safety C-, amenities F.
• Waterville Valley School District (rural): math 50% / reading 50% proficiency, ranked #98 of 171 in NH (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 27 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($411 loan paydown + $4k appreciation (6.3% 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 (6.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Recommended offer $52,359 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 5.82% ✓
• Cap rate: 41.53%
• Cash-on-cash: 125.83%
• DSCR: 6.60
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.80×
• Total profit: $130,000
• Equity at exit: $38,630

10-year hold

• IRR: —
• Equity multiple: 18.76×
• Total profit: $295,796
• Equity at exit: $71,138

Cash invested: $16,660 (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 03215

• Home prices YoY: 1.2%
• Active inventory: 27
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $3,462 medium
• Mortgage (P&I): −$312
• Tax est. 1.5%: −$74 /mo · $892/yr
• Insurance: −$25
• HOA: −$577
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $1,747

Break-even live

Break-even rent $1,251

Max offer price $59,499

Occupancy floor 45%

Sensitivity live

Price	-10% $1,788	-5% $1,767	+0% $1,747	+5% $1,726	+10% $1,706
Rent	-10% $1,473	-5% $1,610	+0% $1,747	+5% $1,884	+10% $2,020
Rate	-1.0pp $1,777	-0.5pp $1,762	base $1,747	+0.5pp $1,731	+1.0pp $1,716

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Pine Tree Way Waterville Valley, NH	3.0	1.5	1900	$3,600	$1.89	44d	1	0.08mi
103 Snow's Brook Rd Unit 18 Waterville Valley, NH	3.0	2.0	1450	$3,300	$2.28	44d	1	0.09mi

HOA detail condo

• Monthly dues: $577 · $6,924/yr
• Likely covers: watersewerinternetparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $59,499 Active 297 DOM
2. 2026-06-18
   days on market $59,499 Active 295 DOM
3. 2026-06-17
   days on market $59,499 Active 294 DOM
4. 2026-06-16
   days on market $59,499 Active 293 DOM
5. 2026-06-15
   days on market $59,499 Active 292 DOM
6. 2026-06-13
   days on market $59,499 Active 290 DOM
7. 2026-06-12
   days on market $59,499 Active 289 DOM
8. 2026-06-09
   days on market $59,499 Active 286 DOM
9. 2026-06-08
   days on market $59,499 Active 285 DOM
10. 2026-06-07
    days on market $59,499 Active 284 DOM
11. 2026-06-05
    days on market $59,499 Active 282 DOM
12. 2026-06-04
    days on market $59,499 Active 280 DOM
13. 2026-06-02
    days on market $59,499 Active 279 DOM
14. 2026-06-01
    days on market $59,499 Active 278 DOM
15. 2026-05-31
    days on market $59,499 Active 277 DOM
16. 2025-08-27
    listed $59,499 Active

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

Taxation est. · year 1

• Rental income: $41,546
• − Mortgage interest: −$3,333
• − Property taxes: −$892
• − Insurance: −$297
• − Repairs & maintenance: −$3,324
• − Management: −$3,324
• − HOA: −$6,924
• − Depreciation: −$1,731
• Taxable income: $21,721
• Est. tax owed @ 24.0%: −$5,213
• After-tax cash flow: $15,750/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: Waterville Valley School District
• NCES district ID: 3306910
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $66,976
• Composite: 46.42/100
• National rank: #5344
• State rank: #98 of 171 in NH

Livability — Center Sandwich

• Score: 70/100
• State rank: #47
• US rank: #7752

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 269

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 (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 2% Asian 1%
• Common ancestry: Italian 20% Lithuanian 10% Scotch-Irish 9%
• Foreign-born: 11% · China

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: ▲ 6.33%
• Current HPI: 541.9424
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2025-08-27 Listed $59,499 PrimeMLS