40 W Main St

Littleton, NH 03561

$329,000D

3 bd · 1.5 ba · 3,401 sqft · Built 1820 · SingleFamily · Active · 192 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,832/mo
• Mortgage (P&I): −$1,725
• Tax + insurance: −$548
• HOA: −$0
• Vac / Maint / Mgmt: −$385
• Net cashflow: $-827/mo
• Annual: $-9,919/yr
• Cap rate: 3.28%
• Cash-on-cash: -10.77%
• DSCR: 0.52
• 1% rule: 0.56%
• Cash to close: $92,120

Investor read

• This is a 3-bed/1.5-bath single-family listed at $329k.
• At list price, monthly cash flow is $-827 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (36.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (44.3% below list).
• It's been on market 192 days — a 12% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $183k (44.3% below list) — sets the bar for 1% rule.
• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#80 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: schools D+, amenities F, commute F.
• Littleton School District (town): math 43% / reading 51% proficiency, ranked #51 of 98 in NH (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1820 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 192 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Built in 1820 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.