131 Chocorua Way · Rochester, NH 03867

$155,000

2 bd · 1.0 ba · 400 sqft · Manufactured · 23 Days on market

Built 1989 Excellent condition Est $166k · 7% under $79/mo HOA · 5% of rent

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.9/30.0
• ARV discount +10.6/15.0
• DSCR +6.6/10.0
• 1% rule +6.1/10.0
• Condition / age +4.8/5.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Fully renovated 2-bedroom, 1-bath seasonal mobile home located in the gated Baxter Lake Recreation Area Association (BLRAA) community in Rochester, NH. This move-in ready property has been extensively updated throughout with a new roof, windows, siding, sheetrock, flooring, paint, and lighting. The open living area features vaulted knotty pine ceilings with exposed beam detail, creating a warm and inviting feel. The updated kitchen offers tile backsplash, open shelving, modern cabinetry, and newer appliances, while the remodeled bathroom includes tile finishes, updated fixtures, and a glass corner shower. The primary bedroom accommodates a queen-sized bed, and the second bedroom offers flex

Key facts

• Gated community
• Gravel parking area
• Remodeled bathroom

Tags

• GATED COMMUNITY
• NEW ROOF
• UPDATED KITCHEN
• REMODELED BATHROOM
• STORAGE SHED
• GRAVEL PARKING AREA

Property features AI

Finance

• Other: Located at Lot #131 in the association; Easements present
• HOA & community: Monthly HOA fee of $79; HOA fee includes water, sewer, trash; Association amenities: club house, playground, basketball court, beach access/rights, boat launch, boat mooring, boat slip/dock, docks, trash removal

Exterior

• Parking: Gravel driveway
• Security: Gated community
• Utilities: Community water (included); Community sewer; 100 Amp electric service; Cable available; DSL internet available; On-site gas
• Home design: Single wide; Existing construction; Shingle (asphalt) roof; Built in 1989; Entry on 1st level
• Construction: Other exterior construction materials; Shingle (asphalt) roof; Built in 1989
• Exterior features: Field/pasture setting; Lake access; Level lot; Gravel driveway; Located in a gated community (Baxter Lake Recreation Area Association)

Interior

• Kitchen: 10x10 kitchen; Electric cooktop; Refrigerator
• Bedrooms: Master bedroom (1st level); Additional bedroom (1st level)
• Flooring: Vinyl
• Bathrooms: One 3/4 bathroom
• Heating & cooling: Hot water heating
• Interior features: Five total rooms; Vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $155k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.6% in Rochester — 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.

Location & tenants

• Location reads 84/100 on livability (#8 in NH, #698 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities C-.
• Rochester School District (suburban): math 27% / reading 35% proficiency, ranked #83 of 98 in NH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.2%/yr); 108 active listings in the ZIP; solid renter incomes; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).

Forward outlook

• 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.
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.

Recommended offer $152,675 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $166,400
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Baxter Lake Dr	0.11mi	2/1.0	440 (+10%)	9mo	$80,000	$182	71
152 Chocorua Way	0.22mi	1/1.0 (-1)	385 (-4%)	10mo	$160,000	$416	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.22% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-9,196
• Equity at exit: $23,111

10-year hold

• IRR: 5.6%
• Equity multiple: 1.44×
• Total profit: $18,967
• Equity at exit: $13,402

Cash invested: $43,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 56 Moderately Landlord-Leaning
• State New Hampshire: 56 Moderately Landlord-Leaning · D+1
• County: — inherits STATE
• City: — inherits STATE

Has just-cause statute; 30-day notice; landlord-leaning vs. neighbors.

Methodology + full state rankings →

ZIP-level market 03867

• Home prices YoY: -22.0%
• Rents YoY: 4.2%
• Active inventory: 108
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,728 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$79
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $215

Break-even live

Break-even rent $1,456

Max offer price $155,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $79 · $948/yr
• Likely covers: security

Listing history 15 events

1. 2026-06-18
   days on market $155,000 Active 23 DOM
2. 2026-06-17
   days on market $155,000 Active 22 DOM
3. 2026-06-16
   days on market $155,000 Active 21 DOM
4. 2026-06-15
   days on market $155,000 Active 20 DOM
5. 2026-06-13
   days on market $155,000 Active 18 DOM
6. 2026-06-13
   days on market $155,000 Active 17 DOM
7. 2026-06-09
   days on market $155,000 Active 14 DOM
8. 2026-06-08
   days on market $155,000 Active 13 DOM
9. 2026-06-07
   days on market $155,000 Active 12 DOM
10. 2026-06-04
    days on market $155,000 Active 9 DOM
11. 2026-06-03
    days on market $155,000 Active 8 DOM
12. 2026-06-02
    days on market $155,000 Active 7 DOM
13. 2026-06-01
    days on market $155,000 Active 6 DOM
14. 2026-05-31
    days on market $155,000 Active 5 DOM
15. 2026-05-26
    listed $155,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,738
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − HOA: −$948
• − Depreciation: −$4,509
• Taxable income: $180
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $2,538/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 17 photos

Excellent 95/100 None rehab

This fully renovated mobile home is move-in ready with extensive updates, including new roof, siding, flooring, and appliances, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Addition of outdoor lighting — Improves safety and enhances curb appeal, attracting potential buyers and renters.
• Both Painting exterior trim — Fresh paint on trim can make the home look more inviting and well-maintained, boosting both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Addition of outdoor lighting — Improves safety and enhances curb appeal, attracting potential buyers and renters. ↑
• Both Painting exterior trim — Fresh paint on trim can make the home look more inviting and well-maintained, boosting both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Rochester School District
• NCES district ID: 3305940
• Math proficiency: 27% ▼ -15.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $51,080
• Composite: 27.11/100
• National rank: #7039
• State rank: #83 of 98 in NH

Livability — Rochester

• Score: 84/100
• State rank: #8
• US rank: #698

Category grades

Amenities C- Commute A+ Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, NH
• County: Strafford County · 75,181 people
• City population: 22,732
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,732
• Household income: $78,674
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 663.0

Population outlook (Strafford County) Hauer SSP2

• Today (2025): 132,503 people
• By 2030: 135,377 · +2.2%
• By 2040: 139,609 · +5.4%
• By 2050: 141,803 · +7.0%
• By 2075: 149,280 · +12.7%
• By 2100: 148,667 · +12.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 12% Romanian 2% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Strafford

• 2024 margin: D (+12.1) · D 55.5% · R 43.5% · Other 1.0%
• 2008→2024 swing: -8.3pp toward R · 2008: 20.4pp · 2024: 12.1pp
• All cycles: 2024: D+12.1 2020: D+15.2 2016: D+8.6 2012: D+14.5 2008: D+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.34%
• Current HPI: 379.5755
• Rent YoY: ▲ 4.22%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-05-26 Listed $155,000 PrimeMLS