8 Chestnut Rd · Portsmouth, NH 03862

$369,000

2 bd · 1.0 ba · 1,104 sqft · Manufactured public records · 4 Days on market

Built 2026

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Why this score? — see what drove the C- 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 +19.4/30.0
• ARV discount +7.5/15.0
• Schools +6.7/10.0
• DSCR +6.1/10.0
• Livability +4.3/5.0
• 1% rule +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NOW ACCEPTING PETS!!! Welcome to Maple Leaf Village, one of North Hampton's most desirable manufactured home communities. This brand-new home offers stylish design, thoughtful upgrades, and comfortable single-level living just minutes from the Seacoast's beaches, shopping, and dining. This beautifully designed home features 2 bedrooms plus a versatile bonus room-perfect for a home office, guest room, or hobby space-and 2 full bathrooms across approximately 1,422 square feet of living space. The open-concept layout creates a bright and welcoming atmosphere, with a spacious living room flowing into the kitchen and dining area, ideal for everyday living and entertaining. The kitchen is designe

Key facts

• Large center island
• Single level living
• Upgraded appliances

Tags

• SINGLE LEVEL LIVING
• VERSATILE BONUS ROOM
• UPGRADED APPLIANCES
• LARGE CENTER ISLAND
• PRIVATE PRIMARY SUITE
• WALK IN CLOSET

Property features AI

Finance

• Other: Lot number 038
• Financial info: Taxes to be determined
• HOA & community: Located in Granite Post Green mobile park (park approved)

Exterior

• Parking: Paved driveway; Private road frontage
• Utilities: Public water; Private sewer; 100 amp service with circuit breaker(s); Cable available; High-speed internet available; Telephone available; LP/bottle gas available
• Home design: Manufactured / Mobile home; New construction; Shingle (asphalt) roof
• Construction: Built in 2026; Other construction materials
• Exterior features: Landscaped grounds; Leased lot; Near golf course, paths, shopping, hospital, and schools; Neighborhood setting

Interior

• Kitchen: Dishwasher (Energy Star); Gas range; Energy Star refrigerator; Exhaust fan
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Five total rooms
• Laundry & utility: Energy Star washer; Energy Star dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $369k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $334k (9.4% below list).
• Recommended offer: $334k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 2.0% 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.
• North Hampton School District (rural): math 66% / reading 82% proficiency, ranked #14 of 171 in NH (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 28 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $334,388 (9.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.91% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $227,424
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Granite Dr	0.34mi	2/1.5	1,019 (-8%)	2mo	$177,000	$174	68
56 Oak Dr	0.17mi	3/2.0 (+1)	1,064 (-4%)	11mo	$219,000	$206	68
4 Aspen Way	0.27mi	2/2.0	1,180 (+7%)	6mo	$360,000	$305	67
30 Greystone Way	0.27mi	2/2.0	1,188 (+8%)	7mo	$464,000	$391	64
39 Hickory Ave	0.16mi	3/2.0 (+1)	1,064 (-4%)	19mo	$215,000	$202	61
39 Oak Dr	0.20mi	2/2.0	1,216 (+10%)	23mo	$199,000	$164	50
16 Granite Dr	0.40mi	2/2.0	1,220 (+10%)	12mo	$265,000	$217	50

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-33,694
• Equity at exit: $55,019

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $3,861
• Equity at exit: $31,904

Cash invested: $103,320 (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 03862

• Home prices YoY: -17.5%
• Active inventory: 28
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,344 medium
• Mortgage (P&I): −$1,935
• Tax from tax record: −$141 /mo · $1,689/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $412

Break-even live

Break-even rent $2,822

Max offer price $369,000

Occupancy floor 83%

Sensitivity live

Price	-10% $621	-5% $517	+0% $412	+5% $308	+10% $203
Rent	-10% $148	-5% $280	+0% $412	+5% $544	+10% $676
Rate	-1.0pp $598	-0.5pp $506	base $412	+0.5pp $316	+1.0pp $219

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $369,000 Active 4 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $369,000 Active 1 DOM

ⓘ 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: $1,689 · $141/mo
• Projected year-2 tax: $4,867 · $406/mo
• Expected delta: +$3,178/yr (+$265/mo · 188.1%)

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

Taxation est. · year 1

• Rental income: $40,127
• − Mortgage interest: −$20,670
• − Property taxes: −$1,689
• − Insurance: −$1,845
• − Repairs & maintenance: −$3,210
• − Management: −$3,210
• − Depreciation: −$10,735
• Taxable loss: −$1,232
• Est. tax savings @ 24.0%: +$296
• After-tax cash flow: $5,241/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: North Hampton School District
• NCES district ID: 3305370
• Math proficiency: 66% ▲ 1.00%
• Reading proficiency: 82% ▲ 3.00%
• Median HH income: $83,171
• Composite: 66.85/100
• National rank: #883
• State rank: #14 of 171 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

• City population: 23,484
• Population (ZIP): 4,563

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3%
• Common ancestry: Lithuanian 8% Scotch-Irish 4% Slovak 4%
• Foreign-born: 5% · China, Canada
• Languages at home: 88% English-only · Spanish 6% Chinese 3% Other Indo-European 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: ▼ -81.37%
• Current HPI: 384.1561
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-17 Listed $369,000 PrimeMLS

Property tax history

+7.7%/yr

Latest (2025): $1,689 · +5.0% YoY. Source: county tax records.