2 Darlene Ln

Nashua, NH 03052

$169,900D+

3 bd · 2.5 ba · 1,184 sqft · Built 2002 · Manufactured · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,075/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$228
• HOA: −$675
• Vac / Maint / Mgmt: −$436
• Net cashflow: $-154/mo
• Annual: $-1,851/yr
• Cap rate: 5.20%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• 1% rule: 1.22%
• Cash to close: $47,572

Investor read

• This is a 3-bed/2.5-bath manufactured listed at $170k.
• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (16.0% below list).
• Meets the 1% rule at list price ($2k rent vs $170k).
• It's been on market 36 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (16.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#11 in NH, #983 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities D+.
• Litchfield School District (rural): math 38% / reading 56% proficiency, ranked #34 of 98 in NH (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Griffin Memorial School (math 42% / reading 57%, grade D, #97 of 263 statewide, top 42%, 437 students, 10% FRL) — zoned schools at 10% FRL track the district average.
• Watch-outs: HOA is 33% of rent.
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 981 units permitted in Hillsborough County in 2024 (381 in 5+ unit buildings).
• Hillsborough County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 5.2% vs local median 2.9% in Nashua — 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?
• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• 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.
• 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.
• 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.