51 Cormier Dr · Rochester, NH 03867

$100,000

2 bd · 1.0 ba · 728 sqft · Manufactured public records · 1 Days on market

Built 1981 $720/mo HOA · 44% of rent

---

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).

• 1% rule +10.0/10.0
• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, low-maintenance living in the Briar Ridge community. This well-maintained two-bedroom, one-bath home offers a comfortable layout with inviting living spaces and everyday convenience. The eat-in kitchen provides plenty of room for casual dining and flows seamlessly into the living room, creating an open, welcoming feel. Two comfortable bedrooms, a full bathroom, and laundry hookups add to the home's practical design. Step outside to the enclosed front deck, an ideal space to enjoy your morning coffee, relax with a good book, or gather with family and friends. A storage shed provides additional space for tools, seasonal items, and outdoor equipment. Conveniently located withi

Key facts

• Storage shed
• Eat-in kitchen
• Enclosed front deck

Tags

• BRIAR RIDGE COMMUNITY
• ENCLOSED FRONT DECK
• EAT-IN KITCHEN
• STORAGE SHED
• LAUNDRY HOOKUPS
• PEACEFUL NEIGHBORHOOD SETTING

Property features AI

Finance

• HOA & community: Monthly fee of 720; Fee covers plowing, recreation, sewer, trash, water, and park rent; Community amenities include playground, recreation facility, snow removal, and trash removal

Exterior

• Parking: Paved driveway
• Utilities: Public water; Community sewer; Circuit breaker electrical service; High-speed internet available; Cable available
• Home design: Single wide manufactured home; Entry level information not specified; Existing construction
• Construction: Built in 1981; Vinyl siding; Asphalt shingle roof; Manufactured home structure
• Exterior features: Level lot; Paved driveway; Located in a mobile home park (Briar Ridge Mobile Home Park) with park approval

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Kerosene heat; Hot air heating
• Interior features: 4 total rooms; Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (16.4% below list).
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $84k (16.4% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 3.3% in Rochester — 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 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.
• Market conditions: Rents rising fast (+4.2%/yr); 109 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $22k; list at $100k implies a 355% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent.

Recommended offer $83,550 (16.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.65% ✓
• Cap rate: 5.18%
• Cash-on-cash: -3.99%
• DSCR: 0.82
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $64,792
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 S Cranberry Ln	0.42mi	2/1.0	784 (+8%)	23mo	$70,000	$89	48

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 · 4.22% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.30×
• Total profit: $-19,625
• Equity at exit: $14,910

10-year hold

• IRR: -7.1%
• Equity multiple: 0.49×
• Total profit: $-14,234
• Equity at exit: $8,646

Cash invested: $28,000 (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 03867

• Home prices YoY: -22.0%
• Rents YoY: 4.2%
• Active inventory: 109
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,651 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$111 /mo · $1,334/yr
• Insurance: −$42
• HOA: −$720
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-93

Break-even live

Break-even rent $1,769

Max offer price $83,550

Occupancy floor —

Sensitivity live

Price	-10% $-37	-5% $-65	+0% $-93	+5% $-121	+10% $-150
Rent	-10% $-224	-5% $-158	+0% $-93	+5% $-28	+10% $37
Rate	-1.0pp $-43	-0.5pp $-68	base $-93	+0.5pp $-119	+1.0pp $-145

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Partridge Green Way Rochester, NH	1.0	1.0	648	$1,500	$2.31	16d	1	1.28mi
29 Partridge Green Way Rochester, NH	1.0	1.0	648	$1,575	$2.43	11d	1	1.28mi
287 Rochester Hill Rd Rochester, NH	1.0	1.0	650	$1,475	$2.27	0d	1	1.42mi

HOA detail

• Monthly dues: $720 · $8,640/yr

Listing history 3 events

1. 2026-06-21
   status $100,000 Active 1 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $100,000 Coming Soon 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: $1,334 · $111/mo
• Projected year-2 tax: $1,757 · $146/mo
• Expected delta: +$423/yr (+$35/mo · 31.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,809
• − Mortgage interest: −$5,602
• − Property taxes: −$1,334
• − Insurance: −$500
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − HOA: −$8,640
• − Depreciation: −$2,909
• Taxable loss: −$2,345
• Est. tax savings @ 24.0%: +$563
• After-tax cash flow: $-555/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: Rochester School District
• NCES district ID: 3305940
• Math proficiency: 27% ▼ -15.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $51,080
• Composite: 27.11/100
• National rank: #7039
• State rank: #83 of 98 in NH

Livability — Rochester

• Score: 84/100
• State rank: #8
• US rank: #698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, NH
• County: Strafford County · 75,181 people
• City population: 22,732
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,732
• Household income: $78,674
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 663.0

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 12% Romanian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.34%
• Current HPI: 379.5755
• Rent YoY: ▲ 4.22%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+354.5% since first listed

2 events — show timeline

• 2026-06-17 Coming Soon $100,000 PrimeMLS
• 2000-07-12 Sold (Public Records) $22,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,334 · +3.0% YoY. Source: county tax records.