1349 Mt Major Hwy

Wolfeboro, NH 03810

$399,000C+

3 bd · 1.5 ba · 1,823 sqft · Built 1990 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,423/mo
• Mortgage (P&I): −$2,092
• Tax + insurance: −$415
• HOA: −$0
• Vac / Maint / Mgmt: −$719
• Net cashflow: $197/mo
• Annual: $2,367/yr
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• 1% rule: 0.86%
• Cash to close: $111,720

Investor read

• This is a 3-bed/1.5-bath single-family listed at $399k.
• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $342k (14.2% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $342k (14.2% below list) — sets the bar for 1% rule.
• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#51 in NH) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Alton School District (rural): math 34% / reading 42% proficiency, ranked #139 of 171 in NH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 active listings in the ZIP; 301 units permitted in Belknap County in 2024 (32 in 5+ unit buildings).
• Belknap County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $125k; list at $399k implies a 219% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.9% vs local median 0.7% in Wolfeboro — 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

• 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.