71 Riverside Ave

Lisbon, NH 03585

$129,900B+

3 bd · 1.0 ba · 1,268 sqft · Built 1924 · SingleFamily · Active · 348 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,537/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$289
• HOA: −$0
• Vac / Maint / Mgmt: −$323
• Net cashflow: $244/mo
• Annual: $2,930/yr
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• 1% rule: 1.18%
• Cash to close: $36,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 348 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#53 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Lisbon Regional School District (rural): math 45% / reading 50% proficiency, ranked #117 of 171 in NH (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lisbon Regional School (Elem) (math 32% / reading 37%, grade F, #179 of 263 statewide, top 71%, 144 students, 39% FRL) — zoned schools at 39% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Lisbon Regional School District average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 348 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.