96 Doe Run

Thornton, NH 03285

$365,000B-

3 bd · 2.0 ba · 1,337 sqft · Built 1978 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,720/mo
• Mortgage (P&I): −$1,914
• Tax + insurance: −$508
• HOA: −$171
• Vac / Maint / Mgmt: −$781
• Net cashflow: $346/mo
• Annual: $4,148/yr
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• 1% rule: 1.02%
• Cash to close: $102,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $365k.
• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $365k).
• It's been on market 26 days — a 2% lower offer ($360k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $360k (1.5% below list) — sets the bar for market timing.
• In year one you build about $39k of equity ($3k loan paydown + $36k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Pemi-Baker Regional School District (rural): math 45% / reading 70% proficiency, ranked #77 of 171 in NH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Thornton Central School (math 62% / reading 62%, grade B, #33 of 263 statewide, top 15%, 185 students, 25% FRL); Plymouth Regional High School (math 42% / reading 57%, grade D, #37 of 90 statewide, top 49%, 646 students, 28% FRL).
• Market conditions: 53 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 23y 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 $187k; list at $365k implies a 95% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $102k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.