64 Carol Ann Way

North Conway, NH 03860

$675,000D+

3 bd · 2.0 ba · 1,936 sqft · Built 1997 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,905/mo
• Mortgage (P&I): −$3,540
• Tax + insurance: −$852
• HOA: −$71
• Vac / Maint / Mgmt: −$1,450
• Net cashflow: $993/mo
• Annual: $11,914/yr
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• 1% rule: 1.02%
• Cash to close: $189,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $675k.
• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $675k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#27 in NH, #3,862 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, health & safety B+; Watch: commute C-, housing F.
• Conway School District (rural): math 28% / reading 46% proficiency, ranked #73 of 98 in NH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John H. Fuller School (math 52% / reading 57%, grade C, #62 of 263 statewide, top 30%, 177 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Zoned-school proficiency averages 54% at this address vs 37% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Conway School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 57 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 26y 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.
• Current owner paid $485k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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?
• 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.
• 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.
• 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.