29 Olde Country Village Rd

Londonderry, NH 03053

$340,000D

3 bd · 1.5 ba · 1,260 sqft · Built 1976 · Condo · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,236/mo
• Mortgage (P&I): −$1,783
• Tax + insurance: −$516
• HOA: −$320
• Vac / Maint / Mgmt: −$679
• Net cashflow: $-63/mo
• Annual: $-757/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• 1% rule: 0.95%
• Cash to close: $95,200

Investor read

• This is a 3-bed/1.5-bath condo listed at $340k.
• At list price, monthly cash flow is $-63 ($-757/yr) — negative.
• To cash-flow at today's rent, offer at most $329k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $324k (4.8% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $324k (4.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#16 in NH, #1,834 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Londonderry School District (suburban): math 42% / reading 58% proficiency, ranked #27 of 98 in NH (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: South Londonderry Elementary School (math 48% / reading 51%, grade D, #97 of 263 statewide, top 42%, 469 students, 15% FRL); Londonderry Middle School (math 32% / reading 56%, grade D, #38 of 96 statewide, top 40%, 890 students, 14% FRL); Londonderry Senior High School (math 48% / reading 74%, grade C+, #18 of 90 statewide, top 20%, 1,386 students, 9% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 83 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• Current owner paid $163k; list at $340k implies a 109% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 2.5% in Londonderry — 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

• 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 1976 — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.