10 Knights Ln

Epsom, NH 03234

$129,900F

2 bd · 1.0 ba · 989 sqft · Built 1974 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,305/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$191
• HOA: −$730
• Vac / Maint / Mgmt: −$274
• Net cashflow: $-571/mo
• Annual: $-6,849/yr
• Cap rate: 1.02%
• Cash-on-cash: -18.83%
• DSCR: 0.16
• 1% rule: 1.00%
• Cash to close: $36,372

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $130k.
• At list price, monthly cash flow is $-571 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $33k (74.8% below list).
• Meets the 1% rule at list price ($1k rent vs $130k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $33k (74.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Epsom School District (rural): math 33% / reading 52% proficiency, ranked #55 of 98 in NH (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Watch-outs: HOA is 56% of rent.
• Market conditions: 27 active listings in the ZIP; 380 units permitted in Merrimack County in 2024 (28 in 5+ unit buildings).
• Merrimack County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 9 sale attempts since 27y 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.

Questions for listing agent

• 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?
• Built in 1974 — 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.
• 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?
• 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.
• 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.