20 Lighthouse Ln · Conway, NH 03860

$200,000

4 bd · 2.0 ba · 1,792 sqft · Manufactured public records · 92 Days on market

Built 2006 $112/sqft · 56% below area $619/mo HOA · 26% of rent

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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).

• Cash flow +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Roomy 4 bedroom home in the beautiful riverside community of Black Bear Village Cooperative. And these are full size bedrooms, with plenty of room for beds and dressers, and with large closets, too. Whether you are looking for more room for your home office or for that additional person, you will find it here. The large living room that opens to the dining and kitchen areas is perfect for entertaining guests or for a rousing game of charades. The kitchen has an island and tons of counter space, perfect if you like to bake or if you just like room to work. The many cabinets and the adjoining walk in pantry, with room for recyclables give you lots of storage. Black Bear Village Cooperative is a mobile home community, owned by the residents, which has a community beach on the Saco River, as well as a club house and basketball court. Trails that lead from the beach area are perfect for dog walks and strolls. And because it is resident owned, you will get to vote on your board members and will have a say in how your community is managed, including the cost of your monthly maintenance fees that cover plowing and maintaining your roads, water, septic, and your beach. Just over the hill from North Conway shopping and dining and minutes to skiing, hiking, and a lot of the other attractions of the greater Mt. Washington Valley. This is a community that you are going to want to check out.

Key facts

• Riverside community
• Community beach
• Basketball court

Tags

• RIVERSIDE COMMUNITY
• COMMUNITY BEACH
• CLUB HOUSE
• BASKETBALL COURT
• WALK IN PANTRY
• TRAILS FOR DOG WALKS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $-62 ($-747/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (5.5% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 3.0% in Conway — 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 74/100 on livability (#33 in NH, #4,690 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D, amenities 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.
• Market conditions: 57 active listings in the ZIP; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $182,000 (9.0% 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 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.17% ✓
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• GRM: 7.1

CMA / ARV

• ARV (median comp): $455,007
• List price: $200,000
• Delta: -56.04%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
60 Lamplighter Dr	0.00mi	4/2.0	1,956 (+9%)	7mo	$189,900	$97	79
124 Lamplighter Dr	0.40mi	4/2.0	1,904 (+6%)	23mo	$150,000	$79	52

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-36,008
• Equity at exit: $29,821

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-34,985
• Equity at exit: $17,292

Cash invested: $56,000 (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 03860

• Home prices YoY: -6.1%
• Active inventory: 57
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,344 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$163 /mo · $1,957/yr
• Insurance: −$83
• HOA: −$619
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-62

Break-even live

Break-even rent $2,423

Max offer price $189,010

Occupancy floor 98%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $619 · $7,428/yr
• Likely covers: water

Listing history 28 events

1. 2026-06-18
   days on market $200,000 Active 92 DOM
2. 2026-06-17
   days on market $200,000 Active 91 DOM
3. 2026-06-16
   days on market $200,000 Active 90 DOM
4. 2026-06-15
   days on market $200,000 Active 89 DOM
5. 2026-06-13
   days on market $200,000 Active 87 DOM
6. 2026-06-12
   days on market $200,000 Active 86 DOM
7. 2026-06-09
   days on market $200,000 Active 83 DOM
8. 2026-06-08
   days on market $200,000 Active 82 DOM
9. 2026-06-07
   days on market $200,000 Active 81 DOM
10. 2026-06-07
    statusdays on market $200,000 Active 80 DOM
11. 2026-06-04
    days on market $200,000 Active with Contract 77 DOM
12. 2026-06-02
    days on market $200,000 Active with Contract 76 DOM
13. 2026-06-01
    days on market $200,000 Active with Contract 75 DOM
14. 2026-05-31
    days on market $200,000 Active with Contract 74 DOM
15. 2026-05-18
    historical Active with Contract 1401-char remark

    Show marketing remark (1399 chars)

    Roomy 4 bedroom home in the beautiful riverside community of Black Bear Village Cooperative. And these are full size bedrooms, with pleanty of room for beds and dressers, and with large closets, too. Whether you are looking for more room for your home office or for that additional person, you will find it here. The large living room that opens to the dining and kitchen areas is perfect for entertaining guests or for a rousing game of charades. The kitchen has an island and tons of counter space, perfect if you like to bake or if you just like room to work. The many cabinets and the adjoining walk in pantry, with room for recyclables give you lots of storage. Black Bear Village Cooperative is a mobile home community, owned by the residents, which has a community beach on the Saco River, as well as a club house and basketball court. Trails that lead from the beach area are perfect for dog walks and strolls. And because it is resident owned, you will get to vote on your board members and will have a say in how your community is managed, including the cost of your monthly maintenance fees that cover plowing and maintaining your roads, water, septic, and your beach. Just over the hill from North Conway shopping and dining and minutes to skiing, hiking, and all of the other attractions of the greater Mt. Washington Valley. This is a community that you are going to want to check out.

16. 2026-05-18
    historical Active with Contract 1399-char remark

    Show marketing remark (1399 chars)

    Roomy 4 bedroom home in the beautiful riverside community of Black Bear Village Cooperative. And these are full size bedrooms, with pleanty of room for beds and dressers, and with large closets, too. Whether you are looking for more room for your home office or for that additional person, you will find it here. The large living room that opens to the dining and kitchen areas is perfect for entertaining guests or for a rousing game of charades. The kitchen has an island and tons of counter space, perfect if you like to bake or if you just like room to work. The many cabinets and the adjoining walk in pantry, with room for recyclables give you lots of storage. Black Bear Village Cooperative is a mobile home community, owned by the residents, which has a community beach on the Saco River, as well as a club house and basketball court. Trails that lead from the beach area are perfect for dog walks and strolls. And because it is resident owned, you will get to vote on your board members and will have a say in how your community is managed, including the cost of your monthly maintenance fees that cover plowing and maintaining your roads, water, septic, and your beach. Just over the hill from North Conway shopping and dining and minutes to skiing, hiking, and all of the other attractions of the greater Mt. Washington Valley. This is a community that you are going to want to check out.

17. 2026-04-07
    price $200,000 1401-char remark

    Show marketing remark (1399 chars)

    Roomy 4 bedroom home in the beautiful riverside community of Black Bear Village Cooperative. And these are full size bedrooms, with pleanty of room for beds and dressers, and with large closets, too. Whether you are looking for more room for your home office or for that additional person, you will find it here. The large living room that opens to the dining and kitchen areas is perfect for entertaining guests or for a rousing game of charades. The kitchen has an island and tons of counter space, perfect if you like to bake or if you just like room to work. The many cabinets and the adjoining walk in pantry, with room for recyclables give you lots of storage. Black Bear Village Cooperative is a mobile home community, owned by the residents, which has a community beach on the Saco River, as well as a club house and basketball court. Trails that lead from the beach area are perfect for dog walks and strolls. And because it is resident owned, you will get to vote on your board members and will have a say in how your community is managed, including the cost of your monthly maintenance fees that cover plowing and maintaining your roads, water, septic, and your beach. Just over the hill from North Conway shopping and dining and minutes to skiing, hiking, and all of the other attractions of the greater Mt. Washington Valley. This is a community that you are going to want to check out.

18. 2026-04-07
    price $200,000 1399-char remark

    Show marketing remark (1399 chars)

    Roomy 4 bedroom home in the beautiful riverside community of Black Bear Village Cooperative. And these are full size bedrooms, with pleanty of room for beds and dressers, and with large closets, too. Whether you are looking for more room for your home office or for that additional person, you will find it here. The large living room that opens to the dining and kitchen areas is perfect for entertaining guests or for a rousing game of charades. The kitchen has an island and tons of counter space, perfect if you like to bake or if you just like room to work. The many cabinets and the adjoining walk in pantry, with room for recyclables give you lots of storage. Black Bear Village Cooperative is a mobile home community, owned by the residents, which has a community beach on the Saco River, as well as a club house and basketball court. Trails that lead from the beach area are perfect for dog walks and strolls. And because it is resident owned, you will get to vote on your board members and will have a say in how your community is managed, including the cost of your monthly maintenance fees that cover plowing and maintaining your roads, water, septic, and your beach. Just over the hill from North Conway shopping and dining and minutes to skiing, hiking, and all of the other attractions of the greater Mt. Washington Valley. This is a community that you are going to want to check out.

19. 2026-03-18
    listed $205,000 Active 1401-char remark

    Show marketing remark (1399 chars)

    Roomy 4 bedroom home in the beautiful riverside community of Black Bear Village Cooperative. And these are full size bedrooms, with pleanty of room for beds and dressers, and with large closets, too. Whether you are looking for more room for your home office or for that additional person, you will find it here. The large living room that opens to the dining and kitchen areas is perfect for entertaining guests or for a rousing game of charades. The kitchen has an island and tons of counter space, perfect if you like to bake or if you just like room to work. The many cabinets and the adjoining walk in pantry, with room for recyclables give you lots of storage. Black Bear Village Cooperative is a mobile home community, owned by the residents, which has a community beach on the Saco River, as well as a club house and basketball court. Trails that lead from the beach area are perfect for dog walks and strolls. And because it is resident owned, you will get to vote on your board members and will have a say in how your community is managed, including the cost of your monthly maintenance fees that cover plowing and maintaining your roads, water, septic, and your beach. Just over the hill from North Conway shopping and dining and minutes to skiing, hiking, and all of the other attractions of the greater Mt. Washington Valley. This is a community that you are going to want to check out.

20. 2026-03-18
    listed $205,000 Active 1399-char remark

    Show marketing remark (1399 chars)

    Roomy 4 bedroom home in the beautiful riverside community of Black Bear Village Cooperative. And these are full size bedrooms, with pleanty of room for beds and dressers, and with large closets, too. Whether you are looking for more room for your home office or for that additional person, you will find it here. The large living room that opens to the dining and kitchen areas is perfect for entertaining guests or for a rousing game of charades. The kitchen has an island and tons of counter space, perfect if you like to bake or if you just like room to work. The many cabinets and the adjoining walk in pantry, with room for recyclables give you lots of storage. Black Bear Village Cooperative is a mobile home community, owned by the residents, which has a community beach on the Saco River, as well as a club house and basketball court. Trails that lead from the beach area are perfect for dog walks and strolls. And because it is resident owned, you will get to vote on your board members and will have a say in how your community is managed, including the cost of your monthly maintenance fees that cover plowing and maintaining your roads, water, septic, and your beach. Just over the hill from North Conway shopping and dining and minutes to skiing, hiking, and all of the other attractions of the greater Mt. Washington Valley. This is a community that you are going to want to check out.

21. 2024-12-19
    soldstatus $191,900 Closed
22. 2024-11-18
    historical Active with Contract
23. 2024-11-17
    status Active
24. 2024-11-04
    historical Active with Contract
25. 2024-08-22
    status Active
26. 2024-07-30
    historical Active with Contract
27. 2024-07-18
    listed $197,900 Active
28. 1996-10-01
    soldstatus $14,900

ⓘ 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: $1,957 · $163/mo
• Projected year-2 tax: $3,158 · $263/mo
• Expected delta: +$1,202/yr (+$100/mo · 61.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $28,132
• − Mortgage interest: −$11,203
• − Property taxes: −$1,957
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,251
• − Management: −$2,251
• − HOA: −$7,428
• − Depreciation: −$5,818
• Taxable loss: −$3,775
• Est. tax savings @ 24.0%: +$906
• After-tax cash flow: $160/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: Conway School District
• NCES district ID: 3302490
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $49,590
• Composite: 31.9/100
• National rank: #5859
• State rank: #73 of 98 in NH

Livability — Conway

• Score: 74/100
• State rank: #33
• US rank: #4690

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conway, NH
• Population (ZIP): 3,780

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 45,072 people
• By 2030: 43,158 · -4.2%
• By 2040: 38,044 · -15.6%
• By 2050: 33,087 · -26.6%
• By 2075: 25,661 · -43.1%
• By 2100: 18,684 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Slovak 8% Serbian 7% Lithuanian 5%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Carroll

• 2024 margin: Toss-up / Even · D 48.8% · R 50.5%
• 2008→2024 swing: -8.0pp toward R · 2008: 6.3pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: D+1.5 2016: R+5.7 2012: R+0.8 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.63%
• Current HPI: 393.4218
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+1242.3% since first listed

14 events — show timeline

• 2026-05-18 Contingent — PrimeMLS
• 2026-05-18 Contingent — PrimeMLS
• 2026-04-07 Price Changed $200,000 PrimeMLS
• 2026-04-07 Price Changed $200,000 PrimeMLS
• 2026-03-18 Listed $205,000 PrimeMLS
• 2026-03-18 Listed $205,000 PrimeMLS
• 2024-12-19 Sold (MLS) $191,900 PrimeMLS
• 2024-11-18 Contingent — PrimeMLS
• 2024-11-17 Relisted — PrimeMLS
• 2024-11-04 Contingent — PrimeMLS
• 2024-08-22 Relisted — PrimeMLS
• 2024-07-30 Contingent — PrimeMLS
• 2024-07-18 Listed $197,900 PrimeMLS
• 1996-10-01 Sold (Public Records) $14,900 Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,957 · -3.4% YoY. Source: county tax records.