28 Great Brook Dr · Belmont, NH 03220-4403

$88,900

3 bd · 2.0 ba · 1,080 sqft · Manufactured public records · 258 Days on market

Built 1995 $82/sqft · at area comps Est $88k · at est. $1318/mo HOA · 69% of rent ↓ 14% since listing

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• ARV discount +7.3/15.0
• Appreciation +5.0/10.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0

Listing remarks MLS

When you first arrive at this 55+ community, it has the definite feel of being in suburbia, yet you are only 4 miles from all the amenities that Tilton and Exit 20 offer in the heart of the Lakes Region. There is also a hiking trail at the lower end of the park. This double-wide mobile home has a convenient floor plan with the master bedroom with en suite and the two other bedrooms on opposite ends of the home for more privacy. The kitchen has been updated with a new dishwasher, microwave with a vented fan, garbage disposal, quality cabinets, and a super lazy susan. The kitchen skylight can be opened for additional ventilation. No need to sweat out hot summer days or power outages because central air conditioning and a back-up automatic generator are included. A good-sized shed provides additional storage capacity. The backyard is very private and filled with plentiful shrubberies. Great value for the money!

Key facts

• Hiking trail
• Private backyard
• Updated kitchen

Tags

• HIKING TRAIL
• UPDATED KITCHEN
• CENTRAL AIR CONDITIONING
• BACK-UP AUTOMATIC GENERATOR
• GOOD-SIZED SHED
• PRIVATE BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $-525 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $26k (70.2% below list).
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $26k (70.2% below list) — sets the bar for cash-flow.
• Cap rate -0.8% vs local median 1.7% in Belmont — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 61/100 on livability (#89 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: health & safety C-, housing D, amenities F.
• Shaker Regional School District (rural): math 27% / reading 45% proficiency, ranked #70 of 98 in NH (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Belmont Elementary School (math 27% / reading 32%, grade F, #201 of 263 statewide, top 82%, 334 students, 40% FRL); Belmont Middle School (math 21% / reading 46%, grade F, #59 of 96 statewide, top 61%, 345 students, 31% FRL); Belmont High School (math 32% / reading 52%, grade F, #56 of 90 statewide, top 64%, 366 students, 27% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.0% local appreciation)).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $25k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; HOA is 69% of rent.

Recommended offer $26,480 (70.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 258 days. Have you received any prior offers? Is the seller open to a 70% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.14% ✓
• Cap rate: -0.79%
• Cash-on-cash: -25.30%
• DSCR: -0.13
• GRM: 3.9

CMA / ARV

• ARV (median comp): $88,500
• List price: $88,900
• Delta: 0.45%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Magnolia Ln	0.06mi	3/2.0	1,012 (-6%)	5mo	$88,500	$87	82
33 Magnolia Ln	0.09mi	3/2.0	1,188 (+10%)	15mo	$139,000	$117	67
10 Lilac Ln	0.04mi	3/2.0	920 (-15%)	10mo	$45,000	$49	65
7 Lilac Ln	0.03mi	3/2.0	1,232 (+14%)	12mo	$90,000	$73	65
35 Circle Dr	0.69mi	3/1.0	1,064 (-2%)	10mo	$140,000	$132	53

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

Projected returns pro-forma

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

5-year hold

• IRR: -14.9%
• Equity multiple: 0.12×
• Total profit: $-21,816
• Equity at exit: $39,973

10-year hold

• IRR: -7.3%
• Equity multiple: -0.19×
• Total profit: $-29,579
• Equity at exit: $61,604

Cash invested: $24,892 (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 03220-4403

• Active inventory: 1
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$466
• Tax from tax record: −$204 /mo · $2,454/yr
• Insurance: −$37
• HOA: −$1,318
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-525

Break-even live

Break-even rent $2,564

Max offer price $26,480

Occupancy floor —

Sensitivity live

Price	-10% $-474	-5% $-500	+0% $-525	+5% $-550	+10% $-575
Rent	-10% $-675	-5% $-600	+0% $-525	+5% $-450	+10% $-375
Rate	-1.0pp $-480	-0.5pp $-502	base $-525	+0.5pp $-548	+1.0pp $-571

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: $22,225
• Closing costs: $2,667
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
246 Hurricane Rd Unit 1 Belmont, NH	2.0	1.0	901	$1,900	$2.11	45d	1	1.15mi

HOA detail

• Monthly dues: $1,318 · $15,816/yr
• Likely covers: trash

Listing history 30 events

1. 2026-06-22
   days on market $88,900 Active 258 DOM
2. 2026-06-19
   days on market $88,900 Active 255 DOM
3. 2026-06-18
   days on market $88,900 Active 254 DOM
4. 2026-06-17
   days on market $88,900 Active 253 DOM
5. 2026-06-16
   days on market $88,900 Active 252 DOM
6. 2026-06-15
   days on market $88,900 Active 251 DOM
7. 2026-06-14
   days on market $88,900 Active 249 DOM
8. 2026-06-13
   days on market $88,900 Active 248 DOM
9. 2026-06-10
   days on market $88,900 Active 246 DOM
10. 2026-06-09
    days on market $88,900 Active 245 DOM
11. 2026-06-08
    days on market $88,900 Active 244 DOM
12. 2026-06-07
    days on market $88,900 Active 243 DOM
13. 2026-06-05
    days on market $88,900 Active 240 DOM
14. 2026-06-03
    days on market $88,900 Active 239 DOM
15. 2026-06-02
    days on market $88,900 Active 238 DOM
16. 2026-06-01
    days on market $88,900 Active 237 DOM
17. 2026-05-31
    days on market $88,900 Active 236 DOM
18. 2026-05-30
    days on market $88,900 Active 235 DOM
19. 2026-04-03
    price $88,900 921-char remark

    Show marketing remark (921 chars)

    When you first arrive at this 55+ community, it has the definite feel of being in suburbia, yet you are only 4 miles from all the amenities that Tilton and Exit 20 offer in the heart of the Lakes Region. There is also a hiking trail at the lower end of the park. This double-wide mobile home has a convenient floor plan with the master bedroom with en suite and the two other bedrooms on opposite ends of the home for more privacy. The kitchen has been updated with a new dishwasher, microwave with a vented fan, garbage disposal, quality cabinets, and a super lazy susan. The kitchen skylight can be opened for additional ventilation. No need to sweat out hot summer days or power outages because central air conditioning and a back-up automatic generator are included. A good-sized shed provides additional storage capacity. The backyard is very private and filled with plentiful shrubberies. Great value for the money!

20. 2025-10-04
    listed $113,995 Active - Delayed Showings 921-char remark

    Show marketing remark (921 chars)

    When you first arrive at this 55+ community, it has the definite feel of being in suburbia, yet you are only 4 miles from all the amenities that Tilton and Exit 20 offer in the heart of the Lakes Region. There is also a hiking trail at the lower end of the park. This double-wide mobile home has a convenient floor plan with the master bedroom with en suite and the two other bedrooms on opposite ends of the home for more privacy. The kitchen has been updated with a new dishwasher, microwave with a vented fan, garbage disposal, quality cabinets, and a super lazy susan. The kitchen skylight can be opened for additional ventilation. No need to sweat out hot summer days or power outages because central air conditioning and a back-up automatic generator are included. A good-sized shed provides additional storage capacity. The backyard is very private and filled with plentiful shrubberies. Great value for the money!

21. 2025-10-02
    historical $2,400
22. 2025-09-04
    listed $2,400
23. 2025-05-13
    historical $2,400
24. 2025-05-07
    listed $2,400
25. 2024-11-13
    price $145,000
26. 2024-07-13
    price $147,500
27. 2019-04-29
    price $82,000
28. 2005-10-31
    soldstatus $93,000
29. 2005-10-31
    soldstatus $93,000
30. 2005-05-20
    listed $103,000

ⓘ 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: $2,454 · $204/mo
• Projected year-2 tax: $2,454 · $204/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,800
• − Mortgage interest: −$4,980
• − Property taxes: −$2,454
• − Insurance: −$444
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − HOA: −$15,816
• − Depreciation: −$2,586
• Taxable loss: −$7,128
• Est. tax savings @ 24.0%: +$1,711
• After-tax cash flow: $-4,586/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: Shaker Regional School District
• NCES district ID: 3306180
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $65,177
• Composite: 32.56/100
• National rank: #5684
• State rank: #70 of 98 in NH

Livability — Belmont

• Score: 61/100
• State rank: #89
• US rank: #17890

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belmont, NH

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-13.7% since first listed

12 events — show timeline

• 2026-04-03 Price Changed $88,900 PrimeMLS
• 2025-10-04 Listed $113,995 PrimeMLS
• 2025-10-02 Rental Removed $2,400 REDFIN
• 2025-09-04 Listed for Rent $2,400 REDFIN
• 2025-05-13 Rental Removed $2,400 REDFIN
• 2025-05-07 Listed for Rent $2,400 REDFIN
• 2024-11-13 Price Changed $145,000 PrimeMLS
• 2024-07-13 Price Changed $147,500 PrimeMLS
• 2019-04-29 Price Changed $82,000 PrimeMLS
• 2005-10-31 Sold (Public Records) $93,000 Public Records
• 2005-10-31 Sold (MLS) $93,000 PrimeMLS
• 2005-05-20 Listed $103,000 PrimeMLS

Property tax history

+6.2%/yr

Latest (2025): $2,454 · +10.5% YoY. Source: county tax records.