164 Deer Park Dr Unit 177D

Woodstock, NH 03262

$26,500C-

2 bd · 2.5 ba · 967 sqft · Built 1989 · Condo · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,033/mo
• Mortgage (P&I): −$139
• Tax + insurance: −$28
• HOA: −$448
• Vac / Maint / Mgmt: −$1,267
• Net cashflow: $4,151/mo
• Annual: $49,817/yr
• Cap rate: 194.28%
• Cash-on-cash: 671.39%
• DSCR: 30.87
• 1% rule: 22.77%
• Cash to close: $7,420

Investor read

• This is a 2-bed/2.5-bath condo listed at $26k.
• At list price, monthly cash flow is $4k ($50k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $26k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($183 loan paydown + $1k appreciation (4.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lincoln-Woodstock School District (rural): math 40% / reading 40% proficiency, ranked #140 of 171 in NH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lin-Wood Public School (Elem) (math 52% / reading 62%, grade C+, #56 of 263 statewide, top 22%, 112 students, 35% FRL) — zoned schools at 35% FRL track the district average.
• Zoned-school proficiency averages 57% at this address vs 40% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Lincoln-Woodstock School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 23 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• 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.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.