101 Robinhood Dr

Exeter, NH 03833

$105,000C-

2 bd · 1.0 ba · 896 sqft · Built 1994 · Manufactured · Pending · 293 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,195/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$245
• HOA: −$900
• Vac / Maint / Mgmt: −$461
• Net cashflow: $38/mo
• Annual: $460/yr
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• 1% rule: 2.09%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $105k.
• At list price, monthly cash flow is $38 ($460/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 293 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Watch-outs: HOA is 41% of rent.
• 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).
• 6 sale attempts since 27y ago; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $105k implies a 67% gain — meaningful room to come down on a strong offer.
• Cap rate 6.7% 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.

Questions for listing agent

• It's been on market 293 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 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?
• 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.