62 Ridge Ave

Claremont, NH 03743

$250,000D

3 bd · 3.5 ba · 1,927 sqft · Built 1964 · SingleFamily · Active · 274 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,163/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$762
• HOA: −$0
• Vac / Maint / Mgmt: −$454
• Net cashflow: $-364/mo
• Annual: $-4,370/yr
• Cap rate: 4.54%
• Cash-on-cash: -6.24%
• DSCR: 0.72
• 1% rule: 0.87%
• Cash to close: $70,000

Investor read

• This is a 3-bed/3.5-bath single-family listed at $250k.
• At list price, monthly cash flow is $-364 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (25.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (13.5% below list).
• It's been on market 274 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (25.7% below list) — sets the bar for cash-flow.
• In year one you build about $2k of equity ($2k loan paydown + $504 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-, amenities F, commute 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.
• Zoned schools: Claremont Middle School (math 23% / reading 38%, grade F, #68 of 96 statewide, top 72%, 354 students, 40% FRL); Stevens High School (math 32% / reading 42%, grade F, #69 of 90 statewide, top 78%, 525 students, 28% FRL).
• Watch-outs: property tax is 3.2% of price.
• Market conditions: 59 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.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $50k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $250k implies a 216% gain — meaningful room to come down on a strong offer.
• Cap rate 4.5% vs local median 3.3% 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.
• This rent runs 44% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 274 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1964 — 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?
• 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?