13 Noble Pl

Manchester, NH 03053

$169,900C-

2 bd · 2.0 ba · 858 sqft · Built 2026 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,500/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$283
• HOA: −$571
• Vac / Maint / Mgmt: −$525
• Net cashflow: $230/mo
• Annual: $2,758/yr
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• 1% rule: 1.47%
• Cash to close: $47,572

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $170k. Condition is rated excellent.
• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#10 in NH, #879 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Londonderry School District (suburban): math 42% / reading 58% proficiency, ranked #27 of 98 in NH (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Londonderry Middle School (math 32% / reading 56%, grade D, #38 of 96 statewide, top 40%, 890 students, 14% FRL); Londonderry Senior High School (math 48% / reading 74%, grade C+, #18 of 90 statewide, top 20%, 1,386 students, 9% FRL) — zoned schools at 11% FRL track the district average.
• Watch-outs: HOA is 23% of rent.
• Market conditions: 83 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 3.0% in Manchester — 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

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.