8 Sir Lancelot Dr · Exeter, NH 03833

$159,000

2 bd · 1.5 ba · 924 sqft · Manufactured public records · 39 Days on market

Built 1993 Est $112k · 42% over $900/mo HOA · 39% of rent

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Why this score? — see what drove the F 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).

• 1% rule +9.5/10.0
• Cash flow +7.7/30.0
• Schools +4.6/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This affordable home has an open spacious floor plan and light interior colors that work well with any style of decor. Enter the Home between the Kitchen and Living areas where there is a coat closet and space to greet your guests. The Kitchen easily accommodates a table for 6 to comfortably dine. Then move to the large living room where all your guests will have room to relax and visit! At the front end of the home there is a Bedroom with adjoining half bath and down the hall to the back is the large full main bath with laundry and another spacious bedroom. There is plenty of closet & cabinet space throughout for storage including a pantry closet. Exterior features include easy maintenance vinyl siding, a generous yard, level paved parking for 2 vehicles and a utility shed for garden equipment or tools. There is a newer double walled Roth oil tank, efficient propane hot water, cooking and dryer and the skirting has been straightened and repaired. Park has a 55+ minimum age requirement. A small dog under 30 pounds / indoor cat is allowed. The park fee is $536 monthly after the early pay discount and includes water & sewer costs.

Key facts

• Large deck
• Metal roof
• Clubhouse

Tags

• METAL ROOF
• DURABLE APPLIANCES
• NEW KITCHEN RANGE
• LARGE DECK
• CLUBHOUSE
• PRIME LOCATION

Property features AI

Finance

• Other: Located in the River Run development; Roads are association/private and privately maintained; Mobile park approval: Yes
• HOA & community: Monthly association/park rent; Association amenities include club house, common acreage, and trash removal; One-time fees include mobile home transfer and other one-time charges

Exterior

• Parking: Paved driveway
• Utilities: Public sewer; Community water; 100 amp electric service (Unitil); High-speed internet available; Cable available (Xfinity); Fuel service available (Midway)
• Home design: Manufactured home (Manuf/Mobile); Blue exterior; Metal roof; Existing structure
• Construction: Vinyl siding; Built in 1993; Manufactured home construction
• Exterior features: Interior lot in a leased neighborhood; Located in a mobile home park (Exeter River Run)

Interior

• Kitchen: Eat-in kitchen; Stove - Gas; Dishwasher; Refrigerator
• Bedrooms: Master bedroom (main level); Additional bedroom with attached bath (main level)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Multi-fuel heating
• Interior features: 4 total rooms; Eat-in kitchen; Living room
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (20.0% below list).
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $127k (20.0% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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.
• Market conditions: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago 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 $51k; list at $159k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $127,173 (20.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.45% ✓
• Cap rate: 4.93%
• Cash-on-cash: -4.86%
• DSCR: 0.78
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $111,804
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Robin Hood Dr	0.12mi	2/1.0	944 (+2%)	5mo	$55,000	$58	85
10 Alder St	0.34mi	2/1.0	924 (0%)	7mo	$150,000	$162	77
709 Nottingham Dr #709	0.32mi	2/1.5	952 (+3%)	4mo	$99,000	$104	76
23 Sumac St	0.28mi	2/2.0	880 (-5%)	2mo	$195,000	$222	75
133 Robin Hood Dr	0.38mi	2/1.5	952 (+3%)	7mo	$55,000	$58	71
512 Canterbury Dr	0.31mi	2/1.0	984 (+6%)	3mo	$72,900	$74	70
12 Cornwall Ave	0.37mi	2/1.0	988 (+7%)	2mo	$120,000	$121	67
2 Lilac St	0.50mi	2/2.0	924 (0%)	10mo	$218,000	$236	66
10 Cherry St	0.55mi	3/1.0 (+1)	924 (0%)	11mo	$101,000	$109	58
309 Friar Tuck Dr	0.24mi	2/1.0	792 (-14%)	10mo	$64,000	$81	55
3 Lindenshire Ave	0.34mi	2/1.0	814 (-12%)	11mo	$130,000	$160	53
308 Friar Tuck Dr	0.36mi	2/1.0	1,050 (+14%)	8mo	$135,000	$129	52

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: -24.0%
• Equity multiple: 0.18×
• Total profit: $-36,652
• Equity at exit: $23,707

10-year hold

• IRR: -17.9%
• Equity multiple: 0.00×
• Total profit: $-44,303
• Equity at exit: $13,747

Cash invested: $44,520 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,302 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$199 /mo · $2,386/yr
• Insurance: −$66
• HOA: −$900
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $-180

Break-even live

Break-even rent $2,530

Max offer price $127,173

Occupancy floor —

Sensitivity live

Price	-10% $-90	-5% $-135	+0% $-180	+5% $-225	+10% $-270
Rent	-10% $-362	-5% $-271	+0% $-180	+5% $-89	+10% $2
Rate	-1.0pp $-100	-0.5pp $-140	base $-180	+0.5pp $-221	+1.0pp $-263

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
162 Front St Exeter, NH	2.0	1.0	720	$2,600	$3.61	17d	1	1.18mi
69 Winter St Exeter, NH	1.0	1.0	1100	$1,900	$1.73	0d	1	1.31mi

HOA detail

• Monthly dues: $900 · $10,800/yr
• Likely covers: watersewer

Listing history 27 events

1. 2026-06-18
   days on market $159,000 Active 39 DOM
2. 2026-06-17
   days on market $159,000 Active 38 DOM
3. 2026-06-16
   days on market $159,000 Active 37 DOM
4. 2026-06-15
   days on market $159,000 Active 36 DOM
5. 2026-06-13
   days on market $159,000 Active 34 DOM
6. 2026-06-13
   days on market $159,000 Active 33 DOM
7. 2026-06-09
   days on market $159,000 Active 30 DOM
8. 2026-06-08
   days on market $159,000 Active 29 DOM
9. 2026-06-07
   days on market $159,000 Active 28 DOM
10. 2026-06-04
    days on market $159,000 Active 25 DOM
11. 2026-06-03
    days on market $159,000 Active 24 DOM
12. 2026-06-02
    days on market $159,000 Active 23 DOM
13. 2026-06-01
    days on market $159,000 Active 22 DOM
14. 2026-05-31
    days on market $159,000 Active 21 DOM
15. 2026-05-10
    listed $159,000 Active
16. 2025-10-20
    price $165,000
17. 2025-08-18
    price $169,500
18. 2018-03-15
    soldstatus $51,000
19. 2018-03-05
    soldstatus $51,000 Closed 1159-char remark

    Show marketing remark (1159 chars)

    This affordable home has an open spacious floor plan and light interior colors that work well with any style of decor. Enter the Home between the Kitchen and Living areas where there is a coat closet and space to greet your guests. The Kitchen easily accommodates a table for 6 to comfortably dine. Then move to the large living room where all your guests will have room to relax and visit! At the front end of the home there is a Bedroom with adjoining half bath and down the hall to the back is the large full main bath with laundry and another spacious bedroom. There is plenty of closet & cabinet space throughout for storage including a pantry closet. Exterior features include easy maintenance vinyl siding, a generous yard, level paved parking for 2 vehicles and a utility shed for garden equipment or tools. There is a newer double walled Roth oil tank, efficient propane hot water, cooking and dryer and the skirting has been straightened and repaired. Park has a 55+ minimum age requirement. A small dog under 30 pounds / indoor cat is allowed. The park fee is $536 monthly after the early pay discount and includes water & sewer costs.

20. 2018-02-05
    historical Active with Contract 1159-char remark

    Show marketing remark (1159 chars)

    This affordable home has an open spacious floor plan and light interior colors that work well with any style of decor. Enter the Home between the Kitchen and Living areas where there is a coat closet and space to greet your guests. The Kitchen easily accommodates a table for 6 to comfortably dine. Then move to the large living room where all your guests will have room to relax and visit! At the front end of the home there is a Bedroom with adjoining half bath and down the hall to the back is the large full main bath with laundry and another spacious bedroom. There is plenty of closet & cabinet space throughout for storage including a pantry closet. Exterior features include easy maintenance vinyl siding, a generous yard, level paved parking for 2 vehicles and a utility shed for garden equipment or tools. There is a newer double walled Roth oil tank, efficient propane hot water, cooking and dryer and the skirting has been straightened and repaired. Park has a 55+ minimum age requirement. A small dog under 30 pounds / indoor cat is allowed. The park fee is $536 monthly after the early pay discount and includes water & sewer costs.

21. 2017-12-21
    listed $50,000 Active 1159-char remark

    Show marketing remark (1159 chars)

    This affordable home has an open spacious floor plan and light interior colors that work well with any style of decor. Enter the Home between the Kitchen and Living areas where there is a coat closet and space to greet your guests. The Kitchen easily accommodates a table for 6 to comfortably dine. Then move to the large living room where all your guests will have room to relax and visit! At the front end of the home there is a Bedroom with adjoining half bath and down the hall to the back is the large full main bath with laundry and another spacious bedroom. There is plenty of closet & cabinet space throughout for storage including a pantry closet. Exterior features include easy maintenance vinyl siding, a generous yard, level paved parking for 2 vehicles and a utility shed for garden equipment or tools. There is a newer double walled Roth oil tank, efficient propane hot water, cooking and dryer and the skirting has been straightened and repaired. Park has a 55+ minimum age requirement. A small dog under 30 pounds / indoor cat is allowed. The park fee is $536 monthly after the early pay discount and includes water & sewer costs.

22. 2017-05-30
    soldstatus $42,000 Closed
23. 2017-04-08
    historical Active with Contract
24. 2016-11-30
    listed $44,000 Active
25. 2016-05-18
    soldstatus $32,000 Closed
26. 2016-03-30
    historical Active with Contract
27. 2016-03-03
    listed $35,000 Active

ⓘ 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: $2,386 · $199/mo
• Projected year-2 tax: $2,926 · $244/mo
• Expected delta: +$540/yr (+$45/mo · 22.6%)

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

Taxation est. · year 1

• Rental income: $27,626
• − Mortgage interest: −$8,906
• − Property taxes: −$2,386
• − Insurance: −$795
• − Repairs & maintenance: −$2,210
• − Management: −$2,210
• − HOA: −$10,800
• − Depreciation: −$4,625
• Taxable loss: −$4,307
• Est. tax savings @ 24.0%: +$1,034
• After-tax cash flow: $-1,128/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

+354.3% since first listed

13 events — show timeline

• 2026-05-10 Listed $159,000 PrimeMLS
• 2025-10-20 Price Changed $165,000 PrimeMLS
• 2025-08-18 Price Changed $169,500 PrimeMLS
• 2018-03-15 Sold (Public Records) $51,000 Public Records
• 2018-03-05 Sold (MLS) $51,000 PrimeMLS
• 2018-02-05 Contingent — PrimeMLS
• 2017-12-21 Listed $50,000 PrimeMLS
• 2017-05-30 Sold (MLS) $42,000 PrimeMLS
• 2017-04-08 Contingent — PrimeMLS
• 2016-11-30 Listed $44,000 PrimeMLS
• 2016-05-18 Sold (MLS) $32,000 PrimeMLS
• 2016-03-30 Contingent — PrimeMLS
• 2016-03-03 Listed $35,000 PrimeMLS

Property tax history

+7.0%/yr

Latest (2025): $2,386 · +5.4% YoY. Source: county tax records.