9A Trestle Rd

Rochester, NH 03868

$294,900D+

4 bd · 2.0 ba · 1,640 sqft · Built 1901 · SingleFamily · Active · 176 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,460/mo
• Mortgage (P&I): −$1,546
• Tax + insurance: −$488
• HOA: −$0
• Vac / Maint / Mgmt: −$517
• Net cashflow: $-91/mo
• Annual: $-1,095/yr
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• 1% rule: 0.83%
• Cash to close: $82,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $295k.
• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (16.6% below list).
• It's been on market 176 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $246k (16.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#8 in NH, #698 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities C-.
• Rochester School District (suburban): math 27% / reading 35% proficiency, ranked #83 of 98 in NH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Rochester School (math 37% / reading 42%, grade F, #164 of 263 statewide, top 64%, 293 students, 38% FRL); Rochester Middle School (math 18% / reading 27%, grade F, #85 of 96 statewide, top 89%, 847 students, 37% FRL); Spaulding High School (math 30% / reading 49%, grade F, #63 of 90 statewide, top 74%, 1,301 students, 32% FRL) — zoned schools at 36% FRL track the district average.
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 34 active listings in the ZIP; 951 units permitted in Strafford County in 2024 (551 in 5+ unit buildings).
• Strafford County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 3y 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.
• Cap rate 5.9% vs local median 3.3% in Rochester — 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

• 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?
• It's been on market 176 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.