29 Milford Ave

Freedom, NH 03836

$199,000D

2 bd · 1.0 ba · 499 sqft · Built 1940 · Other · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,535/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$332
• HOA: −$25
• Vac / Maint / Mgmt: −$322
• Net cashflow: $-188/mo
• Annual: $-2,254/yr
• Cap rate: 5.16%
• Cash-on-cash: -4.04%
• DSCR: 0.82
• 1% rule: 0.77%
• Cash to close: $55,720

Investor read

• This is a 2-bed/1.0-bath other listed at $199k.
• At list price, monthly cash flow is $-188 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (22.9% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $153k (22.9% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Freedom School District (rural): math 30% / reading 50% proficiency, ranked #138 of 171 in NH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Freedom Elementary School (math 50% / reading 50%, grade D, #97 of 263 statewide, top 42%, 48 students, 25% FRL) — zoned schools at 25% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 357 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $41k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $199k implies a 211% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$34k 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?
• Built in 1940 — 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.