14 Sir Lancelot Dr · Exeter, NH 03833

$242,000

2 bd · 2.0 ba · 960 sqft · Manufactured public records · 209 Days on market

Built 2022 $900/mo HOA · 39% of rent

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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).

• ARV discount +7.5/15.0
• Schools +4.6/10.0
• 1% rule +4.5/10.0
• Livability +4.5/5.0
• Cash flow +3.4/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this immaculate 3 year old double wide manufactured home located on a corner lot in Exeter's sought after 55+ community, Exeter River Run just minutes from downtown Exeter, NH. This light-filled home offers 3 bedrooms, 1 full bath and 1 3/4 bath, oversized tilt in windows throughout for easy cleaning and abundant natural light. The eat-in kitchen features plenty of cabinetry and a pantry closet with room for dining, while the open layout provides comfortable living and an easy flow. With no carpet anywhere, this home is both stylish and low-maintenance. Outside, enjoy a private back patio and a large shed perfect for storage. Directly across the street is the McDonnell Conservati

Key facts

• Private back patio
• Eat-in kitchen
• Pantry closet

Tags

• CORNER LOT
• OVERSIZED TILT IN WINDOWS
• EAT-IN KITCHEN
• PANTRY CLOSET
• PRIVATE BACK PATIO
• LARGE SHED

Property features AI

Finance

• Other: Lot: 14 (lot number in park); Water body: Exeter River
• HOA & community: Monthly association/park rent: $900 (includes park rent, sewer, trash); One-time mobile home transfer fee: $350; Other one-time fee: $50; Association amenities include a clubhouse, common acreage, and trash removal; Development/Subdivision: Exeter River Run; Road frontage: Association / privately maintained / shared

Exterior

• Parking: Paved driveway
• Utilities: Public sewer; Community private metered water; 100 Amp electrical service with circuit breaker(s); Electric service by Unitil; Propane (LP) gas available; Cable and phone service by Xfinity; High-speed internet available; Underground utilities
• Home design: Manufactured/Mobile home in a ranch style; Beige exterior color
• Construction: Built in 2022; Vinyl siding; Asphalt shingle roof; Mobile home model: Sunwood Premier; Mobile make/size: X3B704CT 40x24; Mobile serial number provided; Located in mobile park: Exeter River Run (park-approved)
• Exterior features: Leased lot; Water view of the Exeter River

Interior

• Kitchen: Refrigerator; Gas range; Microwave
• Bedrooms: Master bedroom (main level); Two additional bedrooms (main level)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Propane heat; Cooling: Other
• Interior features: 5 total rooms; Eat-in kitchen; Living room
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $242k.

Deal economics

• At list price, monthly cash flow is $-741 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (54.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (5.1% below list).
• Recommended offer: $111k (54.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 91/100 on livability (#1 in NH, #59 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Exeter School District (suburban): math 46% / reading 57% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $242k implies a 591% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $111,023 (54.1% 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 209 days. Have you received any prior offers? Is the seller open to a 54% 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 A-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?
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: 0.95% ✗
• Cap rate: 2.62%
• Cash-on-cash: -13.13%
• DSCR: 0.42
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $103,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Robin Hood Dr	0.18mi	2/1.0	944 (-2%)	5mo	$55,000	$58	81
709 Nottingham Dr #709	0.38mi	2/1.5	952 (-1%)	4mo	$99,000	$104	76
512 Canterbury Dr	0.37mi	2/1.0	984 (+2%)	3mo	$72,900	$74	72
12 Cornwall Ave	0.40mi	2/1.0	988 (+3%)	2mo	$120,000	$121	71
133 Robin Hood Dr	0.44mi	2/1.5	952 (-1%)	7mo	$55,000	$58	70
23 Sumac St	0.34mi	2/2.0	880 (-8%)	2mo	$195,000	$222	69
10 Alder St	0.38mi	2/1.0	924 (-4%)	7mo	$150,000	$162	67
311 Friar Tuck Dr	0.35mi	2/2.0	1,088 (+13%)	2mo	$78,000	$72	60
51 Alder St	0.42mi	2/2.0	1,064 (+11%)	3mo	$180,000	$169	60
911 Camelot Dr	0.32mi	2/1.5	1,092 (+14%)	1mo	$117,500	$108	59
308 Friar Tuck Dr	0.42mi	2/1.0	1,050 (+9%)	8mo	$135,000	$129	54
802 Nottingham Dr Unit 79-802	0.35mi	2/1.0	1,100 (+15%)	2mo	$95,000	$86	54

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: -40.4%
• Equity multiple: -0.27×
• Total profit: $-85,860
• Equity at exit: $36,083

10-year hold

• IRR: -61.9%
• Equity multiple: -0.97×
• Total profit: $-133,227
• Equity at exit: $20,924

Cash invested: $67,760 (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 03833

• Active inventory: 142
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,296 medium
• Mortgage (P&I): −$1,269
• Tax from tax record: −$285 /mo · $3,420/yr
• Insurance: −$101
• HOA: −$900
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $-741

Break-even live

Break-even rent $3,234

Max offer price $111,023

Occupancy floor —

Sensitivity live

Price	-10% $-604	-5% $-673	+0% $-741	+5% $-810	+10% $-878
Rent	-10% $-923	-5% $-832	+0% $-741	+5% $-651	+10% $-560
Rate	-1.0pp $-620	-0.5pp $-680	base $-741	+0.5pp $-804	+1.0pp $-868

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: $60,500
• Closing costs: $7,260
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
162 Front St Exeter, NH	2.0	1.0	720	$2,600	$3.61	17d	1	1.18mi
69 Winter St Exeter, NH	1.0	1.0	1100	$1,900	$1.73	0d	1	1.30mi

HOA detail

• Monthly dues: $900 · $10,800/yr

Listing history 16 events

1. 2026-06-18
   days on market $242,000 Active 209 DOM
2. 2026-06-17
   days on market $242,000 Active 208 DOM
3. 2026-06-16
   days on market $242,000 Active 207 DOM
4. 2026-06-15
   days on market $242,000 Active 206 DOM
5. 2026-06-13
   days on market $242,000 Active 204 DOM
6. 2026-06-13
   days on market $242,000 Active 203 DOM
7. 2026-06-09
   days on market $242,000 Active 200 DOM
8. 2026-06-08
   days on market $242,000 Active 199 DOM
9. 2026-06-07
   days on market $242,000 Active 198 DOM
10. 2026-06-04
    days on market $242,000 Active 195 DOM
11. 2026-06-03
    days on market $242,000 Active 194 DOM
12. 2026-06-02
    days on market $242,000 Active 193 DOM
13. 2026-06-01
    days on market $242,000 Active 192 DOM
14. 2026-05-31
    days on market $242,000 Active 191 DOM
15. 2025-11-21
    listed $242,000 Active
16. 1998-09-25
    soldstatus $35,000

ⓘ 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: $3,420 · $285/mo
• Projected year-2 tax: $4,348 · $362/mo
• Expected delta: +$928/yr (+$77/mo · 27.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $27,546
• − Mortgage interest: −$13,556
• − Property taxes: −$3,420
• − Insurance: −$1,210
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − HOA: −$10,800
• − Depreciation: −$7,040
• Taxable loss: −$12,887
• Est. tax savings @ 24.0%: +$3,093
• After-tax cash flow: $-5,804/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: Exeter School District
• NCES district ID: 3302970
• Math proficiency: 46% ▼ -21.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $69,970
• Composite: 45.9/100
• National rank: #2549
• State rank: #32 of 98 in NH

Livability — Exeter

• Score: 91/100
• State rank: #1
• US rank: #59

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, NH
• County: Rockingham County · 137,526 people
• City population: 22,817
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,817
• Household income: $119,393
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 485.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Slovak 5% Romanian 5%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.07%
• Current HPI: 288.0139
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+591.4% since first listed

2 events — show timeline

• 2025-11-21 Listed $242,000 PrimeMLS
• 1998-09-25 Sold (Public Records) $35,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $3,420 · +5.5% YoY. Source: county tax records.