1338 Woodbury Ave #10 · Portsmouth, NH 03801

$149,900

3 bd · 1.0 ba · 672 sqft · Manufactured public records · 98 Days on market

Built 2024 $545/mo HOA

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.5/15.0
• Schools +5.8/10.0
• Livability +4.3/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this affordable less than 2 years young home in the Woodbury Avenue Cooperative! This 1 bedroom tastefully done residence offers the perfect opportunity to own in one of the Seacoast’s most desirable cities without compromise. Bright, modern, and move-in ready, this property combines comfort, efficiency, and convenience in a fantastic location. You’ll love the open living space, thoughtfully designed kitchen, and the ease of low-maintenance living. The pet-friendly community makes it easy to bring along your furry companions, and the setting puts you close to shopping, dining, commuter routes, and all that vibrant downtown Portsmouth has to offer. Whether you’re just starting out, downsizing, or searching for a low-stress home base on the Seacoast, this property is a smart choice. Manufactured/Mobile Home financing required if seeking a loan. Conventional financing can't be used for the purchase. Monthly cooperative fee is $545.

Key facts

• Open living space
• Close to dining
• Close to shopping

Tags

• PET FRIENDLY COMMUNITY
• OPEN LIVING SPACE
• THOUGHTFULLY DESIGNED KITCHEN
• LOW MAINTENANCE LIVING
• CLOSE TO SHOPPING
• CLOSE TO DINING

🏢 Co-op / cooperative unit. The $149,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $968 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 1.9% in Portsmouth — 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 86/100 on livability (#5 in NH, #354 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: cost of living F.
• Portsmouth School District (suburban): math 60% / reading 72% proficiency, ranked #13 of 98 in NH (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.4%/yr); 157 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• This rent runs 36% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.15% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.66%
• DSCR: 2.23
• GRM: 3.9

CMA / ARV

• ARV (median comp): $157,000
• List price: $149,900
• Delta: -4.52%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1338 Woodbury Ave #12	0.00mi	2/1.0 (-1)	576 (-14%)	24mo	$155,000	$269	51
301 Oriental Gdns	0.62mi	2/1.0 (-1)	640 (-5%)	15mo	$108,000	$169	45
106 Oriental Gdns	0.61mi	2/1.0 (-1)	732 (+9%)	17mo	$140,000	$191	38
210 Oriental Gardens Rd	0.58mi	2/1.0 (-1)	600 (-11%)	23mo	$160,000	$267	31

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 · 4.41% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.01×
• Total profit: $42,358
• Equity at exit: $22,351

10-year hold

• IRR: 33.0%
• Equity multiple: 4.27×
• Total profit: $137,393
• Equity at exit: $12,961

Cash invested: $41,972 (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 03801

• Rents YoY: 4.4%
• Active inventory: 157
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $3,226 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$545
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $968

Break-even live

Break-even rent $2,001

Max offer price $149,900

Occupancy floor 65%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Concord Way Portsmouth, NH	2.0	1.0	684	$2,600	$3.80	43d	1	0.93mi
67 Porpoise Way Portsmouth, NH	2.0	1.0	684	$3,700	$5.41	1d	1	0.93mi
23 Concord Way Portsmouth, NH	2.0	1.0	684	$2,300	$3.36	10d	1	0.99mi
35 Hodgdon Way Portsmouth, NH	2.0	1.0–2.0	717	$3,705	$5.17	1d	20	1.23mi
188 Madison St Portsmouth, NH	1.0–2.0	1.0	742	$2,600	$3.50	1d	1	1.45mi
7 Portwalk Pl Portsmouth, NH	2.0	1.0–2.0	881	$5,045	$5.73	1d	14	1.48mi

HOA detail

• Monthly dues: $545 · $6,540/yr

Listing history 20 events

1. 2026-06-18
   days on market $149,900 Active 98 DOM
2. 2026-06-17
   days on market $149,900 Active 97 DOM
3. 2026-06-16
   days on market $149,900 Active 96 DOM
4. 2026-06-15
   days on market $149,900 Active 95 DOM
5. 2026-06-13
   days on market $149,900 Active 93 DOM
6. 2026-06-09
   days on market $149,900 Active 89 DOM
7. 2026-06-08
   days on market $149,900 Active 88 DOM
8. 2026-06-07
   days on market $149,900 Active 87 DOM
9. 2026-06-04
   days on market $149,900 Active 84 DOM
10. 2026-06-03
    days on market $149,900 Active 83 DOM
11. 2026-06-02
    days on market $149,900 Active 82 DOM
12. 2026-06-01
    days on market $149,900 Active 81 DOM
13. 2026-05-31
    days on market $149,900 Active 80 DOM
14. 2026-03-12
    listed $149,900 Active 971-char remark

    Show marketing remark (971 chars)

    Welcome to this affordable less than 2 years young home in the Woodbury Avenue Cooperative! This 1 bedroom tastefully done residence offers the perfect opportunity to own in one of the Seacoast’s most desirable cities without compromise. Bright, modern, and move-in ready, this property combines comfort, efficiency, and convenience in a fantastic location. You’ll love the open living space, thoughtfully designed kitchen, and the ease of low-maintenance living. The pet-friendly community makes it easy to bring along your furry companions, and the setting puts you close to shopping, dining, commuter routes, and all that vibrant downtown Portsmouth has to offer. Whether you’re just starting out, downsizing, or searching for a low-stress home base on the Seacoast, this property is a smart choice. Manufactured/Mobile Home financing required if seeking a loan. Conventional financing can't be used for the purchase. Monthly cooperative fee is $545.

15. 2025-10-31
    price $150,000
16. 2024-06-26
    soldstatus $150,000 Closed
17. 2024-05-23
    historical Active with Contract
18. 2024-05-08
    status Active
19. 2024-04-09
    historical Active with Contract
20. 2024-02-27
    listed $150,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,711
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$3,097
• − Management: −$3,097
• − HOA: −$6,540
• − Depreciation: −$4,361
• Taxable income: $10,222
• Est. tax owed @ 24.0%: −$2,453
• After-tax cash flow: $9,157/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: Portsmouth School District
• NCES district ID: 3305820
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 72% ▼ -3.00%
• Median HH income: $67,302
• Composite: 57.66/100
• National rank: #1060
• State rank: #13 of 98 in NH

Livability — Portsmouth

• Score: 86/100
• State rank: #5
• US rank: #354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portsmouth, NH
• County: Rockingham County · 137,526 people
• City population: 23,484
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 23,484
• Household income: $106,756
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 843.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Asian 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 5% Slovak 5% Romanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 91% English-only · Other Indo-European 3% Spanish 2% Chinese 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: ▼ -281.76%
• Current HPI: 383.8843
• Rent YoY: ▲ 4.41%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

-0.1% since first listed

7 events — show timeline

• 2026-03-12 Listed $149,900 PrimeMLS
• 2025-10-31 Price Changed $150,000 PrimeMLS
• 2024-06-26 Sold (MLS) $150,000 PrimeMLS
• 2024-05-23 Contingent — PrimeMLS
• 2024-05-08 Relisted — PrimeMLS
• 2024-04-09 Contingent — PrimeMLS
• 2024-02-27 Listed $150,000 PrimeMLS

Property tax history

+2.0%/yr

Latest (2021): $263 · +2.3% YoY. Source: county tax records.