100 River St

North Walpole, NH 03602

$157,000A

3 bd · 1.0 ba · 1,247 sqft · Built 1940 · SingleFamily · Pending · 184 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,438/mo
• Mortgage (P&I): −$823
• Tax + insurance: −$369
• HOA: −$0
• Vac / Maint / Mgmt: −$512
• Net cashflow: $734/mo
• Annual: $8,804/yr
• Cap rate: 12.41%
• Cash-on-cash: 21.84%
• DSCR: 1.97
• 1% rule: 1.55%
• Cash to close: $43,960

Investor read

• This is a 3-bed/1.0-bath single-family listed at $157k.
• At list price, monthly cash flow is $734 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• It's been on market 184 days — a 12% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $138k (12.0% below list) — sets the bar for market timing.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 76/100 on livability (#25 in NH, #3,506 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Fall Mountain Regional School District (rural): math 32% / reading 47% proficiency, ranked #65 of 98 in NH (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alstead Primary School (math 30% / reading 50%, grade F, #155 of 263 statewide, top 62%, 80 students, 44% FRL); Fall Mountain Regional High School (math 37% / reading 62%, grade D, #37 of 90 statewide, top 49%, 487 students, 32% FRL).
• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 166 units permitted in Cheshire County in 2024 (0 in 5+ unit buildings).
• Cheshire County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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?
• 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.