320 Old Lake Shore Rd #15 · Laconia, NH 03249

$188,900

2 bd · 2.5 ba · 1,518 sqft · Manufactured public records · 18 Days on market

Built 1986 $124/sqft · at area comps Est $184k · at est. $410/mo HOA · 19% of rent ↓ 14% since listing

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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 +14.3/30.0
• Appreciation +10.0/10.0
• 1% rule +6.3/10.0
• ARV discount +6.2/15.0
• Schools +4.6/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Edge Woods II 55+ community! This 2 bedroom, 3 bath mobile home offers private baths in each bedroom, an additional half bath, updated windows and exterior doors, updated master bath with Corian, oversized shed w/ electricty, fully applianced kitchen, separate dining area, additional room (office/den), central a/c, 3 season porch and deck. Placed at the end of a cul-de-sac with private woods in your backyard! This home is located in a prime lakes region area with shopping, town beach/boat launch, BONH Pavilion and entertainment only minutes away! Seller would prefer to sell it furnished. Being sold "As Is". Park approval required. Open house on Sunday May 3rd from 10-1

Key facts

• Built 1986
• Listed 18 days

Property features AI

Finance

• Other: Access to Lake Winnipesaukee (lake access); Unit/Lot #15 in the community; Sale includes the manufactured home, outbuilding, furnishings, and building only
• HOA & community: Monthly association/park rent of $410; Fee includes plowing, sewer, trash, water, and park rent; Association amenities include snow removal and trash removal; Located in Edge Woods II cooperative; mobile co-op with park approval

Exterior

• Parking: Paved driveway
• Utilities: Public sewer on-site; Community water and on-site well exists; 200 Amp service with circuit breakers; Cable internet available; Phone and cable at site
• Home design: Ranch-style manufactured home; Single-story; Beige exterior; Rolled roof
• Construction: Built in 1986; Wood frame construction with vinyl exterior/siding; Manufactured home (Holiday Manner, Standard Manufactured Home)
• Exterior features: Level lot; Beach access for municipal residents

Interior

• Kitchen: Electric range; Refrigerator; Exhaust hood; Dishwasher
• Bedrooms: Two bedrooms each with a private bath (both on main level); Den on main level
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: One full bath; One 3/4 bath; One half bath
• Heating & cooling: Forced air heat; Wall furnace; Kerosene heating option; Central air conditioning
• Interior features: Seven rooms total; Carpet, laminate, and vinyl flooring
• Laundry & utility: Washer and dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath manufactured listed at $189k.

Deal economics

• At list price, monthly cash flow is $33 ($399/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $186k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 1.8% in Laconia — 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 79/100 on livability (#20 in NH, #2,314 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, commute F.
• Gilford School District (rural): math 52% / reading 52% proficiency, ranked #32 of 98 in NH (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 86 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Belknap County population projected at -10% 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $162k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $186,066 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 6.50%
• Cash-on-cash: 0.75%
• DSCR: 1.03
• GRM: 7.4

CMA / ARV

• ARV (median comp): $183,503
• List price: $188,900
• Delta: 2.94%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 Old Lakeshore Rd Unit F-2	0.19mi	2/2.0	1,404 (-8%)	15mo	$185,000	$132	64
303 Old Lake Shore Rd Unit B3	0.19mi	3/2.0 (+1)	1,296 (-15%)	12mo	$226,100	$174	50
303 Old Lake Shore Rd Unit C5	0.19mi	2/2.0	1,296 (-15%)	22mo	$196,000	$151	47

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: 24.9%
• Equity multiple: 2.99×
• Total profit: $105,239
• Equity at exit: $170,176

10-year hold

• IRR: 22.0%
• Equity multiple: 6.84×
• Total profit: $308,729
• Equity at exit: $366,991

Cash invested: $52,892 (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 03249

• Home prices YoY: 8.5%
• Active inventory: 86
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,128 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$168 /mo · $2,018/yr
• Insurance: −$79
• HOA: −$410
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $33

Break-even live

Break-even rent $2,085

Max offer price $188,900

Occupancy floor 93%

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: $47,225
• Closing costs: $5,667
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $410 · $4,920/yr
• Likely covers: electric

Listing history 3 events

1. 2026-05-03
   listed $188,900 Active 701-char remark
2. 2026-04-29
   historical $188,900 701-char remark
3. 2026-04-28
   listed $188,900 Active 701-char remark

ⓘ 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: $2,018 · $168/mo
• Projected year-2 tax: $3,068 · $256/mo
• Expected delta: +$1,050/yr (+$88/mo · 52.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,530
• − Mortgage interest: −$10,581
• − Property taxes: −$2,018
• − Insurance: −$944
• − Repairs & maintenance: −$2,042
• − Management: −$2,042
• − HOA: −$4,920
• − Depreciation: −$5,495
• Taxable loss: −$2,514
• Est. tax savings @ 24.0%: +$603
• After-tax cash flow: $1,002/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: Gilford School District
• NCES district ID: 3303180
• Math proficiency: 52% ▼ -9.00%
• Reading proficiency: 52% ▼ -11.00%
• Median HH income: $65,107
• Composite: 45.9/100
• National rank: #2550
• State rank: #32 of 98 in NH

Livability — Laconia

• Score: 79/100
• State rank: #20
• US rank: #2314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,103
• Population (ZIP): 7,785

Population outlook (Belknap County) Hauer SSP2

• Today (2025): 60,702 people
• By 2030: 60,353 · -0.6%
• By 2040: 58,264 · -4.0%
• By 2050: 54,533 · -10.2%
• By 2075: 45,622 · -24.8%
• By 2100: 33,772 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Asian 3%
• Common ancestry: Lithuanian 12% Italian 5% Slovak 4%
• Foreign-born: 3% · China, South Korea
• Languages at home: 96% English-only · Other Indo-European 3% German/W. Germanic 1%

Political lean MEDSL · Belknap

• 2024 margin: R (+13.1) · D 43.1% · R 56.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 1.2pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+10.4 2016: R+16.8 2012: R+5.0 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 33.06%
• Current HPI: 420.4481
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-14.2% since first listed

5 events — show timeline

• 2026-06-18 Sold (MLS) $162,000 PrimeMLS
• 2026-05-20 Pending — PrimeMLS
• 2026-05-03 Listed $188,900 PrimeMLS
• 2026-04-29 Coming Soon $188,900 PrimeMLS
• 2026-04-28 Listed $188,900 PrimeMLS

Property tax history

+6.3%/yr

Latest (2025): $2,018 · +5.3% YoY. Source: county tax records.