3 Willow St · Exeter, NH 03833

$84,900

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 5 Days on market

Built 1970 Est $92k · 8% under $555/mo HOA · 25% of rent

---

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 +30.0/30.0
• ARV discount +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity in a pet-friendly Exeter River Coop Park! This 2-bedroom, 1-bath mobile home offers an affordable chance to invest sweat equity and make it your own. Home features nice open living room and kitchen and two enclosed porches, providing additional living space, storage, or a cozy spot to relax. Property does need updating - offers great potential for buyers willing to put in sweat equity. Nice opportunity for first-time buyers, downsizers, or investors seeking value and potential. Pets allowed, some dog breed restrictions. Park approval required.

Key facts

• Open living room
• Two enclosed porches
• Community pool

Tags

• OPEN LIVING ROOM
• TWO ENCLOSED PORCHES

Property features AI

Finance

• Other: Road frontage: association and paved; Directions: GPS friendly
• HOA & community: Monthly park/association fee of $555; One-time fee of $400 for mobile home transfer; Association fee includes sewer, trash, water, and park rent; Community amenities include a playground and in-ground pool

Exterior

• Parking: Paved driveway
• Utilities: Community/public water; Community sewer; 100 Amp electric service (Unitil); High-speed internet available; Phone and cable available; Fuel supply: Eastern Propane
• Home design: Manufactured/Mobile home; Metal roof; Mobile home park: Exeter River Coop (park approved); Existing construction; Built in 1970
• Construction: Aluminum siding; Metal roof; Built in 1970
• Exterior features: Level lot; Paved driveway

Interior

• Kitchen: Kitchen/Dining area (approx. 11 x 11); Gas stove; Refrigerator
• Bedrooms: Two bedrooms (both on Level 1; approx. 11 x 11 and 11 x 8.5)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Four total rooms; Two porches (16 x 8 and 19 x 8)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 14.3% vs local median 2.8% in Exeter — 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 91/100 on livability (#1 in NH, #59 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Exeter School District (suburban): math 46% / reading 57% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Main Street School (408 students, 14% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: 142 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $84,900

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.60% ✓
• Cap rate: 14.29%
• Cash-on-cash: 28.57%
• DSCR: 2.27
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $92,064
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Strouts Park	0.06mi	2/1.0	732 (+9%)	16mo	$100,000	$137	69
213 Robinhood Dr	0.31mi	2/1.0	768 (+14%)	14mo	$90,000	$117	50

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: 23.1%
• Equity multiple: 1.95×
• Total profit: $22,684
• Equity at exit: $12,659

10-year hold

• IRR: 31.3%
• Equity multiple: 3.85×
• Total profit: $67,780
• Equity at exit: $7,341

Cash invested: $23,772 (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 03833

• Active inventory: 142
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,210 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$144 /mo · $1,732/yr
• Insurance: −$35
• HOA: −$555
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $566

Break-even live

Break-even rent $1,494

Max offer price $84,900

Occupancy floor 69%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
162 Front St Exeter, NH	2.0	1.0	720	$2,600	$3.61	16d	1	0.84mi
68 Park St Unit 4 Exeter, NH	1.0	1.0	564	$1,675	$2.97	1d	1	1.25mi
24 Water St Unit 3 Exeter, NH	1.0	1.0	400	$1,725	$4.31	1d	1	1.43mi

HOA detail

• Monthly dues: $555 · $6,660/yr

Listing history 5 events

1. 2026-06-16
   statusdays on market $84,900 Pending 5 DOM
2. 2026-06-15
   days on market $84,900 Active 4 DOM
3. 2026-06-13
   days on market $84,900 Active 2 DOM
4. 2026-06-13
   remarks 572-char remark
5. 2026-06-13
   listed $84,900 Active 1 DOM

ⓘ 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: $1,732 · $144/mo
• Projected year-2 tax: $1,791 · $149/mo
• Expected delta: +$59/yr (+$5/mo · 3.4%)

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

Taxation est. · year 1

• Rental income: $26,519
• − Mortgage interest: −$4,756
• − Property taxes: −$1,732
• − Insurance: −$424
• − Repairs & maintenance: −$2,122
• − Management: −$2,122
• − HOA: −$6,660
• − Depreciation: −$2,470
• Taxable income: $6,234
• Est. tax owed @ 24.0%: −$1,496
• After-tax cash flow: $5,295/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: Exeter School District
• NCES district ID: 3302970
• Math proficiency: 46% ▼ -21.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $69,970
• Composite: 45.9/100
• National rank: #2549
• State rank: #32 of 98 in NH

Livability — Exeter

• Score: 91/100
• State rank: #1
• US rank: #59

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Exeter, NH
• County: Rockingham County · 137,526 people
• City population: 22,817
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 22,817
• Household income: $119,393
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 485.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Slovak 5% Romanian 5%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 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: ▼ -202.07%
• Current HPI: 288.0139
• Rent YoY: —
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-11 Listed $84,900 PrimeMLS

Property tax history

+12.9%/yr

Latest (2025): $1,732 · +5.5% YoY. Source: county tax records.