1 Granite Dr

North Hampton, NH 03862

$369,000C-

3 bd · 2.0 ba · 1,399 sqft · Built 2026 · Manufactured · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,850/mo
• Mortgage (P&I): −$1,935
• Tax + insurance: −$341
• HOA: −$0
• Vac / Maint / Mgmt: −$808
• Net cashflow: $765/mo
• Annual: $9,182/yr
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• 1% rule: 1.04%
• Cash to close: $103,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $369k.
• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $369k).
• It's been on market 62 days — a 6% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $347k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• 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).
• 2 sale attempts; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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.
• 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.