8 Boulders Rd Unit (aka Unit 66)

Holderness, NH 03245

$310,000D-

1 bd · 1.0 ba · 705 sqft · Built 2002 · Condo · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,341/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$517
• HOA: −$305
• Vac / Maint / Mgmt: −$492
• Net cashflow: $-598/mo
• Annual: $-7,173/yr
• Cap rate: 3.98%
• Cash-on-cash: -8.26%
• DSCR: 0.63
• 1% rule: 0.76%
• Cash to close: $86,800

Investor read

• This is a 1-bed/1.0-bath condo listed at $310k.
• At list price, monthly cash flow is $-598 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (27.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (24.5% below list).
• It's been on market 38 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $224k (27.9% below list) — sets the bar for cash-flow.
• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Pemi-Baker Regional School District (rural): math 45% / reading 70% proficiency, ranked #77 of 171 in NH (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Holderness Central School (math 57% / reading 77%, grade B+, #24 of 263 statewide, top 9%, 152 students, 16% FRL); Plymouth Regional High School (math 42% / reading 57%, grade D, #37 of 90 statewide, top 49%, 646 students, 28% FRL).
• Market conditions: 26 active listings in the ZIP; 487 units permitted in Grafton County in 2024 (127 in 5+ unit buildings).
• Grafton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 28% 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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.