164 Deer Park Dr Unit 160D

North Woodstock, NH 03262

$9,900C-

1 bd · 2.5 ba · 686 sqft · Built 1989 · Condo · Active · 220 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,051/mo
• Mortgage (P&I): −$52
• Tax + insurance: −$10
• HOA: −$443
• Vac / Maint / Mgmt: −$221
• Net cashflow: $325/mo
• Annual: $3,905/yr
• Cap rate: 45.74%
• Cash-on-cash: 140.88%
• DSCR: 7.27
• 1% rule: 10.61%
• Cash to close: $2,772

Investor read

• This is a 1-bed/2.5-bath condo listed at $10k.
• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• It's been on market 220 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $9k (12.0% below list) — sets the bar for market timing.
• In year one you build about $461 of equity ($68 loan paydown + $393 appreciation (4.0% local appreciation)).
• Location reads 59/100 on livability (#91 in NH) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing A+, cost of living B; Watch: health & safety C-, amenities F, commute F.
• 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); Lin-Wood Public School (Middle) (math 44% / reading 44%, grade D, #34 of 96 statewide, top 38%, 69 students, 28% FRL); Lin-Wood Public School (High) (math 30% / reading 50%, grade F, #59 of 90 statewide, top 69%, 87 students, 18% FRL) — zoned schools at 27% FRL track the district average.
• Watch-outs: HOA is 42% of rent.
• Market conditions: 23 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.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $9k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 45.7% vs local median 3.7% in North Woodstock — 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

• It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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)?