1 River Run Dr Unit Week 43 - Oct. 25-Nov 1, 2026

Bartlett, NH 03812

$7,000C-

1 bd · 1.5 ba · 1,100 sqft · Built 1979 · Condo · Active · 185 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,946/mo
• Mortgage (P&I): −$37
• Tax + insurance: −$12
• HOA: −$68
• Vac / Maint / Mgmt: −$409
• Net cashflow: $1,421/mo
• Annual: $17,053/yr
• Cap rate: 249.90%
• Cash-on-cash: 870.04%
• DSCR: 39.71
• 1% rule: 27.80%
• Cash to close: $1,960

Investor read

• This is a 1-bed/1.5-bath condo listed at $7k.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $7k).
• It's been on market 185 days — a 12% lower offer ($6k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $6k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.7%/yr); year-one equity from $48 of loan paydown is wiped out by about $187 of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#34 in NH, #4,895 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment C-, amenities F, commute D-.
• Bartlett School District (rural): math 60% / reading 65% proficiency, ranked #53 of 171 in NH (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Josiah Bartlett Elementary School (math 32% / reading 52%, grade F, #141 of 263 statewide, top 58%, 189 students, 31% FRL).
• Zoned-school proficiency averages 42% at this address vs 62% district-wide (-20 pts) — the specific schools serving this property underperform the Bartlett School District average; the district grade overstates school quality for this exact location.
• Market conditions: 52 active listings in the ZIP; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.7% appreciation + 3.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 249.9% vs local median 1.9% in Bartlett — 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.

Questions for listing agent

• It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 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?
• 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.