53 Oak Dr

Portsmouth, NH 03862

$264,000B+

3 bd · 2.0 ba · 1,512 sqft · Built 1995 · Manufactured · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,850/mo
• Mortgage (P&I): −$1,384
• Tax + insurance: −$319
• HOA: −$580
• Vac / Maint / Mgmt: −$808
• Net cashflow: $758/mo
• Annual: $9,093/yr
• Cap rate: 9.74%
• Cash-on-cash: 12.30%
• DSCR: 1.55
• 1% rule: 1.46%
• Cash to close: $73,920

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $264k.
• At list price, monthly cash flow is $758 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $264k).
• It's been on market 59 days — a 3% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $256k (3.0% below list) — sets the bar for market timing.
• 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.
• 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); Winnacunnet High School (math 43% / reading 63%, grade C-, #28 of 90 statewide, top 30%, 1,063 students, 17% FRL) — zoned schools at 10% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 74% district-wide (-14 pts) — the specific schools serving this property underperform the North Hampton School District average; the district grade overstates school quality for this exact location.
• 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).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.7% 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.

Questions for listing agent

• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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.