20 Center Ct

Epping, NH 03042

$290,000D

2 bd · 2.0 ba · 924 sqft · Built 1998 · Other · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,126/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$263
• HOA: −$0
• Vac / Maint / Mgmt: −$446
• Net cashflow: $-104/mo
• Annual: $-1,251/yr
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• 1% rule: 0.73%
• Cash to close: $81,200

Investor read

• This is a 2-bed/2.0-bath other listed at $290k.
• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (26.7% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $213k (26.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#58 in NH) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, crime A-; Watch: amenities F, commute F.
• Epping School District (rural): math 32% / reading 50% proficiency, ranked #59 of 98 in NH (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Epping Elementary School (math 27% / reading 52%, grade F, #164 of 263 statewide, top 64%, 456 students, 21% FRL); Epping Middle School (math 37% / reading 47%, grade D-, #42 of 96 statewide, top 44%, 185 students, 24% FRL); Epping High School (math 34% / reading 54%, grade F, #54 of 90 statewide, top 61%, 241 students, 16% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: 43 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).
• 4 sale attempts since 28y 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.
• Current owner paid $152k; list at $290k implies a 91% gain — meaningful room to come down on a strong offer.
• Cap rate 5.9% vs local median 1.4% in Epping — 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?
• 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.
• 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.