308 State Route 286 Lot 87

Seabrook, NH 03874

$83,499B

1 bd · 1.0 ba · 403 sqft · Built 1986 · Manufactured · Active · 205 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,511/mo
• Mortgage (P&I): −$438
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$317
• Net cashflow: $568/mo
• Annual: $6,813/yr
• Cap rate: 15.41%
• Cash-on-cash: 32.55%
• DSCR: 2.45
• 1% rule: 1.81%
• Cash to close: $23,380

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $83k.
• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $83k).
• It's been on market 205 days — a 12% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $577 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Seabrook School District (suburban): math 15% / reading 32% proficiency, ranked #92 of 98 in NH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Seabrook Elementary School (math 27% / reading 32%, grade F, #201 of 263 statewide, top 82%, 349 students, 48% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 40 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.