24 Granite Dr · Portsmouth, NH 03862

$250,000

3 bd · 2.0 ba · 1,838 sqft · Manufactured public records · 46 Days on market

Built 1988 Est $436k · 43% under $570/mo HOA · 15% of rent

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Why this score? — see what drove the B+ 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 +28.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• Schools +6.7/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you are looking for the roomier than usual manufactured home in a park. .. look no further! Extra large master bedroom suite located privately located features large shower. Two additional bedrooms situated at the opposite end of a short hallway. Living room large enough to serve as a living room as well as spacious dining area, computer area or use your imagination to make it your own special area. Also there is a lovely dining room off kitchen should you prefer the entire living room as is. Updated kitchen fully appliance will please any cook. Newer roof, large exterior shed and a bonus 12 x 10 three season room; with a small gas heater even enjoy some of the cooler months. Home sits back from the road boasting a private rear yard. Want more? Washer and dryer included, CENTRAL AIR, newer oil tank, 12 x 15 deck and a new rear entry deck. Park requirements-2 vehicle limit, no pets, 4 resident limit, EXCELLENT credit.

Key facts

• Built 1988
• Listed 45 days

Property features AI

Finance

• Other: Shared, privately maintained road frontage (60')
• HOA & community: Monthly lot/park fee of $570; Fee includes sewer, trash, and park rent

Exterior

• Utilities: Public water; Septic sewer; 100 Amp electric; Cable internet available
• Home design: Manufactured / Mobile home; Existing construction; Built in 1988
• Construction: Vinyl siding; Shingle roof
• Exterior features: Paved driveway; Level lot; Located in Granite Rose Mobile Home Park (park-approved)

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central AC; Hot air heating
• Interior features: Six total rooms

🏷️ Possibly a rental listed for sale. The $250,000 price doesn't fit this home's estimated sale value (~$435,606) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $250k.

Deal economics

• At list price, monthly cash flow is $777 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 1.7% in Portsmouth — 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 86/100 on livability (#5 in NH, #354 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, health & safety A+; Watch: cost of living F.
• North Hampton School District (rural): math 66% / reading 82% proficiency, ranked #14 of 171 in NH (top 8%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: North Hampton School (math 62% / reading 72%, grade B+, #24 of 263 statewide, top 9%, 303 students, 4% FRL) — zoned schools at 4% FRL track the district average.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $160k; list at $250k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.54% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.32%
• DSCR: 1.59
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $435,606
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Chestnut Rd	0.33mi	2/2.0 (-1)	1,580 (-14%)	11mo	$375,000	$237	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.13×
• Total profit: $9,379
• Equity at exit: $37,276

10-year hold

• IRR: 13.1%
• Equity multiple: 2.05×
• Total profit: $73,484
• Equity at exit: $21,615

Cash invested: $70,000 (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 03862

• Home prices YoY: -17.5%
• Active inventory: 28
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,850 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$279 /mo · $3,349/yr
• Insurance: −$104
• HOA: −$570
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $777

Break-even live

Break-even rent $2,866

Max offer price $250,000

Occupancy floor 75%

Sensitivity live

Price	-10% $919	-5% $848	+0% $777	+5% $706	+10% $636
Rent	-10% $473	-5% $625	+0% $777	+5% $929	+10% $1,081
Rate	-1.0pp $903	-0.5pp $841	base $777	+0.5pp $712	+1.0pp $647

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
48 Dow Ln Rye, NH	3.0	2.0	1588	$3,850	$2.42	3d	1	0.74mi

HOA detail

• Monthly dues: $570 · $6,840/yr
• Likely covers: gas

Listing history 20 events

1. 2026-06-21
   days on market $250,000 Active 46 DOM
2. 2026-06-18
   days on market $250,000 Active 43 DOM
3. 2026-06-17
   days on market $250,000 Active 42 DOM
4. 2026-06-16
   days on market $250,000 Active 41 DOM
5. 2026-06-15
   days on market $250,000 Active 40 DOM
6. 2026-06-13
   days on market $250,000 Active 38 DOM
7. 2026-06-13
   days on market $250,000 Active 37 DOM
8. 2026-06-09
   days on market $250,000 Active 34 DOM
9. 2026-06-08
   days on market $250,000 Active 33 DOM
10. 2026-06-07
    days on market $250,000 Active 32 DOM
11. 2026-06-04
    days on market $250,000 Active 29 DOM
12. 2026-06-03
    days on market $250,000 Active 28 DOM
13. 2026-06-02
    days on market $250,000 Active 27 DOM
14. 2026-06-01
    days on market $250,000 Active 26 DOM
15. 2026-05-31
    days on market $250,000 Active 25 DOM
16. 2026-05-06
    listed $250,000 Active
17. 2019-10-10
    soldstatus $160,000
18. 2019-09-15
    soldstatus $160,000 Closed 935-char remark

    Show marketing remark (935 chars)

    If you are looking for the roomier than usual manufactured home in a park. .. look no further! Extra large master bedroom suite located privately located features large shower. Two additional bedrooms situated at the opposite end of a short hallway. Living room large enough to serve as a living room as well as spacious dining area, computer area or use your imagination to make it your own special area. Also there is a lovely dining room off kitchen should you prefer the entire living room as is. Updated kitchen fully appliance will please any cook. Newer roof, large exterior shed and a bonus 12 x 10 three season room; with a small gas heater even enjoy some of the cooler months. Home sits back from the road boasting a private rear yard. Want more? Washer and dryer included, CENTRAL AIR, newer oil tank, 12 x 15 deck and a new rear entry deck. Park requirements-2 vehicle limit, no pets, 4 resident limit, EXCELLENT credit.

19. 2019-08-04
    historical Active with Contract 935-char remark

    Show marketing remark (935 chars)

    If you are looking for the roomier than usual manufactured home in a park. .. look no further! Extra large master bedroom suite located privately located features large shower. Two additional bedrooms situated at the opposite end of a short hallway. Living room large enough to serve as a living room as well as spacious dining area, computer area or use your imagination to make it your own special area. Also there is a lovely dining room off kitchen should you prefer the entire living room as is. Updated kitchen fully appliance will please any cook. Newer roof, large exterior shed and a bonus 12 x 10 three season room; with a small gas heater even enjoy some of the cooler months. Home sits back from the road boasting a private rear yard. Want more? Washer and dryer included, CENTRAL AIR, newer oil tank, 12 x 15 deck and a new rear entry deck. Park requirements-2 vehicle limit, no pets, 4 resident limit, EXCELLENT credit.

20. 2019-07-22
    listed $164,900 Active 935-char remark

    Show marketing remark (935 chars)

    If you are looking for the roomier than usual manufactured home in a park. .. look no further! Extra large master bedroom suite located privately located features large shower. Two additional bedrooms situated at the opposite end of a short hallway. Living room large enough to serve as a living room as well as spacious dining area, computer area or use your imagination to make it your own special area. Also there is a lovely dining room off kitchen should you prefer the entire living room as is. Updated kitchen fully appliance will please any cook. Newer roof, large exterior shed and a bonus 12 x 10 three season room; with a small gas heater even enjoy some of the cooler months. Home sits back from the road boasting a private rear yard. Want more? Washer and dryer included, CENTRAL AIR, newer oil tank, 12 x 15 deck and a new rear entry deck. Park requirements-2 vehicle limit, no pets, 4 resident limit, EXCELLENT credit.

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

Tax reassessment forecast NH · Partial reset (capped growth)

• Current annual tax: $3,349 · $279/mo
• Projected year-2 tax: $4,400 · $367/mo
• Expected delta: +$1,050/yr (+$88/mo · 31.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $46,200
• − Mortgage interest: −$14,004
• − Property taxes: −$3,349
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,696
• − Management: −$3,696
• − HOA: −$6,840
• − Depreciation: −$7,273
• Taxable income: $6,092
• Est. tax owed @ 24.0%: −$1,462
• After-tax cash flow: $7,865/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.

Schools (NCES district)

• District: North Hampton School District
• NCES district ID: 3305370
• Math proficiency: 66% ▲ 1.00%
• Reading proficiency: 82% ▲ 3.00%
• Median HH income: $83,171
• Composite: 66.85/100
• National rank: #883
• State rank: #14 of 171 in NH

Livability — Portsmouth

• Score: 86/100
• State rank: #5
• US rank: #354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 23,484
• Population (ZIP): 4,563

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3%
• Common ancestry: Lithuanian 8% Scotch-Irish 4% Slovak 4%
• Foreign-born: 5% · China, Canada
• Languages at home: 88% English-only · Spanish 6% Chinese 3% Other Indo-European 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.37%
• Current HPI: 384.1561
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+51.6% since first listed

5 events — show timeline

• 2026-05-06 Listed $250,000 PrimeMLS
• 2019-10-10 Sold (Public Records) $160,000 Public Records
• 2019-09-15 Sold (MLS) $160,000 PrimeMLS
• 2019-08-04 Contingent — PrimeMLS
• 2019-07-22 Listed $164,900 PrimeMLS

Property tax history

+7.8%/yr

Latest (2025): $3,349 · +5.1% YoY. Source: county tax records.