343 Main St

Sandown, NH 03873

$1,200,000D+

48 bd · 9.0 ba · 5,968 sqft · Built 1986 · MultiFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $11,400/mo
• Mortgage (P&I): −$6,293
• Tax + insurance: −$2,000
• HOA: −$0
• Vac / Maint / Mgmt: −$2,394
• Net cashflow: $713/mo
• Annual: $8,557/yr
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• 1% rule: 0.95%
• Cash to close: $336,000

Investor read

• This is a 1×2bd/1.5ba + 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $1.20M. Condition is rated good.
• At list price, monthly cash flow is $713 ($9k/yr) — positive. Per door: $119/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.14M (5.0% below list).
• It's been on market 41 days — a 3% lower offer ($1.16M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.14M (5.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $36k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Timberlane Regional School District (suburban): math 32% / reading 50% proficiency, ranked #54 of 98 in NH (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 43 active listings in the ZIP; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The kitchen cabinets appear to be in good condition with no visible damage or wear.
• Minor: Bathroom fixtures — The bathroom fixtures appear to be in good condition with no visible damage or wear.
• Minor: Exterior paint — The exterior paint appears to be in good condition with no visible damage or wear.