302 Plains Rd

Claremont, NH 03743

$221,000C

4 bd · 1.0 ba · 1,770 sqft · Built 1880 · SingleFamily · Active · 221 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,347/mo
• Mortgage (P&I): −$1,159
• Tax + insurance: −$646
• HOA: −$0
• Vac / Maint / Mgmt: −$493
• Net cashflow: $49/mo
• Annual: $592/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• 1% rule: 1.06%
• Cash to close: $61,880

Investor read

• This is a 4-bed/1.0-bath single-family listed at $221k.
• At list price, monthly cash flow is $49 ($592/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $221k).
• It's been on market 221 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($2k loan paydown + $446 appreciation (0.2% local appreciation)).
• Location reads 69/100 on livability (#50 in NH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, schools D-, amenities F.
• Claremont School District (town): math 24% / reading 35% proficiency, ranked #85 of 98 in NH (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 3.0% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 58 active listings in the ZIP; 98 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).
• Sullivan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 11y 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 $50k; list at $221k implies a 342% gain — meaningful room to come down on a strong offer.
• Cap rate 6.6% vs local median 3.2% in Claremont — 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.
• At $2,347/mo this rent would consume 47% of the median local household income ($60k/yr) (locally 642% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 221 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.