52 Morways Park · Charlestown, NH 03603

$134,900

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 243 Days on market

Built 1995 $89/sqft · 55% below area $550/mo HOA · 28% 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 +15.7/30.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home! This home has underwent multiple tasteful updates and is ready for you to call your own! With three bedrooms and two bathrooms you have the space you have always wanted with a great sized lot in the low maintenance community of Twin Valley Estates! You'll enjoy the great sized kitchen and dining room area that walks out to a nice level yard space with patio perfect for entertaining. A large living room space and additional den/family room with wood burning fireplace for ambiance is an incredible added bonus for a manufactured home! Two secondary bedrooms shared a perfect sized bathroom at one end of the home while the primary bedroom has its own ensuite bathroom that is truly stunning! Located conveniently to I-91 and a quick trip to Dartmouth/Lebanon and the Upper Valley as well as Keene and all that rural Vermont has to offer. Close to downtown Charlestown and minutes away from the largest city in the county Claremont for all your modern conveniences. Schedule your showing today! Offers should be contingent on Seller finding suitable housing 45 days minimum with an option for 60 days.

Key facts

• Great sized lot
• Level yard space
• Ensuite bathroom

Tags

• GREAT SIZED LOT
• LEVEL YARD SPACE
• WOOD BURNING FIREPLACE
• ENSUITE BATHROOM
• CONVENIENTLY LOCATED
• CLOSE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $59 ($706/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.4% in Charlestown — 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 71/100 on livability (#39 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, employment A; Watch: housing D, health & safety D, amenities F.
• Fall Mountain Regional School District (rural): math 32% / reading 47% proficiency, ranked #65 of 98 in NH (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 98 units permitted in Sullivan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• Sullivan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $135k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.44% ✓
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 5.8

CMA / ARV

• ARV (median comp): $299,278
• List price: $134,900
• Delta: -54.92%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Morways Park	0.02mi	4/2.0 (+1)	1,458 (-4%)	8mo	$159,900	$110	81
134 Pebblewood Dr	0.19mi	3/2.0	1,568 (+4%)	8mo	$148,000	$94	79
146 morway Park	0.02mi	3/2.0	1,404 (-7%)	10mo	$174,000	$124	79
148 Morway Park	0.02mi	3/2.0	1,568 (+4%)	17mo	$105,000	$67	79
1004 Mountain View Ave	0.21mi	3/2.0	1,404 (-7%)	9mo	$145,000	$103	71

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $77,580
• Equity at exit: $121,529

10-year hold

• IRR: 22.7%
• Equity multiple: 6.99×
• Total profit: $226,231
• Equity at exit: $262,081

Cash invested: $37,772 (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 03603

• Home prices YoY: 8.6%
• Active inventory: 35
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,938 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$159 /mo · $1,905/yr
• Insurance: −$56
• HOA: −$550
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $59

Break-even live

Break-even rent $1,864

Max offer price $134,900

Occupancy floor 92%

Sensitivity live

Price	-10% $135	-5% $97	+0% $59	+5% $21	+10% $-18
Rent	-10% $-94	-5% $-18	+0% $59	+5% $135	+10% $212
Rate	-1.0pp $127	-0.5pp $93	base $59	+0.5pp $24	+1.0pp $-12

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $550 · $6,600/yr

Listing history 25 events

1. 2026-06-19
   days on market $134,900 Active 243 DOM
2. 2026-06-18
   days on market $134,900 Active 242 DOM
3. 2026-06-17
   days on market $134,900 Active 241 DOM
4. 2026-06-16
   days on market $134,900 Active 240 DOM
5. 2026-06-15
   days on market $134,900 Active 239 DOM
6. 2026-06-14
   days on market $134,900 Active 237 DOM
7. 2026-06-12
   pricedays on market $134,900 Active 236 DOM
8. 2026-06-09
   days on market $137,000 Active 233 DOM
9. 2026-06-08
   days on market $137,000 Active 232 DOM
10. 2026-06-07
    days on market $137,000 Active 231 DOM
11. 2026-06-07
    days on market $137,000 Active 230 DOM
12. 2026-06-02
    days on market $137,000 Active 226 DOM
13. 2026-06-01
    days on market $137,000 Active 225 DOM
14. 2026-05-31
    days on market $137,000 Active 224 DOM
15. 2026-05-30
    days on market $137,000 Active 223 DOM
16. 2026-04-14
    price $137,000 1117-char remark

    Show marketing remark (1117 chars)

    Welcome home! This home has underwent multiple tasteful updates and is ready for you to call your own! With three bedrooms and two bathrooms you have the space you have always wanted with a great sized lot in the low maintenance community of Twin Valley Estates! You'll enjoy the great sized kitchen and dining room area that walks out to a nice level yard space with patio perfect for entertaining. A large living room space and additional den/family room with wood burning fireplace for ambiance is an incredible added bonus for a manufactured home! Two secondary bedrooms shared a perfect sized bathroom at one end of the home while the primary bedroom has its own ensuite bathroom that is truly stunning! Located conveniently to I-91 and a quick trip to Dartmouth/Lebanon and the Upper Valley as well as Keene and all that rural Vermont has to offer. Close to downtown Charlestown and minutes away from the largest city in the county Claremont for all your modern conveniences. Schedule your showing today! Offers should be contingent on Seller finding suitable housing 45 days minimum with an option for 60 days.

17. 2026-04-02
    status Active 1117-char remark

    Show marketing remark (1117 chars)

    Welcome home! This home has underwent multiple tasteful updates and is ready for you to call your own! With three bedrooms and two bathrooms you have the space you have always wanted with a great sized lot in the low maintenance community of Twin Valley Estates! You'll enjoy the great sized kitchen and dining room area that walks out to a nice level yard space with patio perfect for entertaining. A large living room space and additional den/family room with wood burning fireplace for ambiance is an incredible added bonus for a manufactured home! Two secondary bedrooms shared a perfect sized bathroom at one end of the home while the primary bedroom has its own ensuite bathroom that is truly stunning! Located conveniently to I-91 and a quick trip to Dartmouth/Lebanon and the Upper Valley as well as Keene and all that rural Vermont has to offer. Close to downtown Charlestown and minutes away from the largest city in the county Claremont for all your modern conveniences. Schedule your showing today! Offers should be contingent on Seller finding suitable housing 45 days minimum with an option for 60 days.

18. 2026-03-24
    historical Active with Contract 1117-char remark

    Show marketing remark (1117 chars)

    Welcome home! This home has underwent multiple tasteful updates and is ready for you to call your own! With three bedrooms and two bathrooms you have the space you have always wanted with a great sized lot in the low maintenance community of Twin Valley Estates! You'll enjoy the great sized kitchen and dining room area that walks out to a nice level yard space with patio perfect for entertaining. A large living room space and additional den/family room with wood burning fireplace for ambiance is an incredible added bonus for a manufactured home! Two secondary bedrooms shared a perfect sized bathroom at one end of the home while the primary bedroom has its own ensuite bathroom that is truly stunning! Located conveniently to I-91 and a quick trip to Dartmouth/Lebanon and the Upper Valley as well as Keene and all that rural Vermont has to offer. Close to downtown Charlestown and minutes away from the largest city in the county Claremont for all your modern conveniences. Schedule your showing today! Offers should be contingent on Seller finding suitable housing 45 days minimum with an option for 60 days.

19. 2025-12-30
    price $140,000 1117-char remark

    Show marketing remark (1117 chars)

    Welcome home! This home has underwent multiple tasteful updates and is ready for you to call your own! With three bedrooms and two bathrooms you have the space you have always wanted with a great sized lot in the low maintenance community of Twin Valley Estates! You'll enjoy the great sized kitchen and dining room area that walks out to a nice level yard space with patio perfect for entertaining. A large living room space and additional den/family room with wood burning fireplace for ambiance is an incredible added bonus for a manufactured home! Two secondary bedrooms shared a perfect sized bathroom at one end of the home while the primary bedroom has its own ensuite bathroom that is truly stunning! Located conveniently to I-91 and a quick trip to Dartmouth/Lebanon and the Upper Valley as well as Keene and all that rural Vermont has to offer. Close to downtown Charlestown and minutes away from the largest city in the county Claremont for all your modern conveniences. Schedule your showing today! Offers should be contingent on Seller finding suitable housing 45 days minimum with an option for 60 days.

20. 2025-11-26
    price $145,000 1117-char remark

    Show marketing remark (1117 chars)

    Welcome home! This home has underwent multiple tasteful updates and is ready for you to call your own! With three bedrooms and two bathrooms you have the space you have always wanted with a great sized lot in the low maintenance community of Twin Valley Estates! You'll enjoy the great sized kitchen and dining room area that walks out to a nice level yard space with patio perfect for entertaining. A large living room space and additional den/family room with wood burning fireplace for ambiance is an incredible added bonus for a manufactured home! Two secondary bedrooms shared a perfect sized bathroom at one end of the home while the primary bedroom has its own ensuite bathroom that is truly stunning! Located conveniently to I-91 and a quick trip to Dartmouth/Lebanon and the Upper Valley as well as Keene and all that rural Vermont has to offer. Close to downtown Charlestown and minutes away from the largest city in the county Claremont for all your modern conveniences. Schedule your showing today! Offers should be contingent on Seller finding suitable housing 45 days minimum with an option for 60 days.

21. 2025-10-19
    listed $150,000 Active 1117-char remark

    Show marketing remark (1117 chars)

    Welcome home! This home has underwent multiple tasteful updates and is ready for you to call your own! With three bedrooms and two bathrooms you have the space you have always wanted with a great sized lot in the low maintenance community of Twin Valley Estates! You'll enjoy the great sized kitchen and dining room area that walks out to a nice level yard space with patio perfect for entertaining. A large living room space and additional den/family room with wood burning fireplace for ambiance is an incredible added bonus for a manufactured home! Two secondary bedrooms shared a perfect sized bathroom at one end of the home while the primary bedroom has its own ensuite bathroom that is truly stunning! Located conveniently to I-91 and a quick trip to Dartmouth/Lebanon and the Upper Valley as well as Keene and all that rural Vermont has to offer. Close to downtown Charlestown and minutes away from the largest city in the county Claremont for all your modern conveniences. Schedule your showing today! Offers should be contingent on Seller finding suitable housing 45 days minimum with an option for 60 days.

22. 2022-08-25
    soldstatus $77,533
23. 2012-07-27
    soldstatus $56,000 414-char remark

    Show marketing remark (414 chars)

    Fresh, Clean, All Propane Home. Open kitchen, dining, living room and into Family Room makes it so easy to entertain. Master Bedroom and Bath with great closets is located on one end of home Numerous updates; new roof and one skylight, new Mohawk Carpet through out the house, new Miller furance, master bath remodeled, guest bath semi remodeled, shed extended to 10x20 with new siding. 24,000 BTU air conditioner.

24. 2012-03-06
    listed $59,900 414-char remark

    Show marketing remark (414 chars)

    Fresh, Clean, All Propane Home. Open kitchen, dining, living room and into Family Room makes it so easy to entertain. Master Bedroom and Bath with great closets is located on one end of home Numerous updates; new roof and one skylight, new Mohawk Carpet through out the house, new Miller furance, master bath remodeled, guest bath semi remodeled, shed extended to 10x20 with new siding. 24,000 BTU air conditioner.

25. 2006-09-01
    soldstatus $55,000

ⓘ 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: $1,905 · $159/mo
• Projected year-2 tax: $2,423 · $202/mo
• Expected delta: +$518/yr (+$43/mo · 27.2%)

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

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 ≥92°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,259
• − Mortgage interest: −$7,556
• − Property taxes: −$1,905
• − Insurance: −$674
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − HOA: −$6,600
• − Depreciation: −$3,924
• Taxable loss: −$1,122
• Est. tax savings @ 24.0%: +$269
• After-tax cash flow: $976/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: Fall Mountain Regional School District
• NCES district ID: 3302990
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 47% ▼ -7.00%
• Median HH income: $53,411
• Composite: 34.35/100
• National rank: #5227
• State rank: #65 of 98 in NH

Livability — Charlestown

• Score: 71/100
• State rank: #39
• US rank: #6553

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,272

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 41,322 people
• By 2030: 39,910 · -3.4%
• By 2040: 36,447 · -11.8%
• By 2050: 32,917 · -20.3%
• By 2075: 25,997 · -37.1%
• By 2100: 19,479 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Asian 2%
• Common ancestry: Lithuanian 11% Slovak 4% Serbian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Chinese 2% French/Haitian/Cajun 1%

Political lean MEDSL · Sullivan

• 2024 margin: Toss-up / Even · D 49.1% · R 49.8% · Other 1.2%
• 2008→2024 swing: -18.7pp toward R · 2008: 18.0pp · 2024: -0.7pp
• All cycles: 2024: R+0.7 2020: D+3.6 2016: R+2.6 2012: D+13.3 2008: D+18.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.27%
• Current HPI: 320.9344
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+149.1% since first listed

10 events — show timeline

• 2026-04-14 Price Changed $137,000 PrimeMLS
• 2026-04-02 Relisted — PrimeMLS
• 2026-03-24 Contingent — PrimeMLS
• 2025-12-30 Price Changed $140,000 PrimeMLS
• 2025-11-26 Price Changed $145,000 PrimeMLS
• 2025-10-19 Listed $150,000 PrimeMLS
• 2022-08-25 Sold (Public Records) $77,533 Public Records
• 2012-07-27 Sold (MLS) $56,000 PrimeMLS
• 2012-03-06 Listed $59,900 PrimeMLS
• 2006-09-01 Sold (Public Records) $55,000 Public Records

Property tax history

+3.1%/yr

Latest (2024): $1,905 · +6.0% YoY. Source: county tax records.