4 Cammett Dr

Raymond, NH 03077

$229,000D-

3 bd · 2.0 ba · 1,216 sqft · Built 2000 · Manufactured · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,159/mo
• Mortgage (P&I): −$1,201
• Tax + insurance: −$264
• HOA: −$495
• Vac / Maint / Mgmt: −$453
• Net cashflow: $-255/mo
• Annual: $-3,058/yr
• Cap rate: 4.96%
• Cash-on-cash: -4.77%
• DSCR: 0.79
• 1% rule: 0.94%
• Cash to close: $64,120

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $229k.
• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (5.7% below list).
• It's been on market 38 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (19.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#63 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: schools C-, amenities F, commute F.
• Raymond School District (suburban): math 27% / reading 45% proficiency, ranked #72 of 98 in NH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 23% of rent.
• Market conditions: 69 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• 2 sale attempts since 22y 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 $84k; list at $229k implies a 173% gain — meaningful room to come down on a strong offer.
• Cap rate 5.0% vs local median 2.1% in Raymond — 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 38 days. Have you received any prior offers? Is the seller open to a 20% 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.
• 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.
• 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.