315 Oriental Gdns · Portsmouth, NH 03801

$171,900

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 74 Days on market

Built 2018 Fair condition $256/sqft · 9% above area Est $157k · 9% over $460/mo HOA · 16% of rent

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.8/10.0
• Livability +4.3/5.0
• Rent growth +3.6/5.0
• ARV discount +3.2/15.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover easy, coastal-inspired living in this well-maintained single-story home, perfectly positioned in a quiet neighborhood just minutes from vibrant downtown Portsmouth. Offering a maintenance-free exterior and thoughtful layout, this home blends comfort with convenience. Inside, you’ll find a bright, inviting open living space that flows seamlessly into a spacious kitchen with ample cabinetry and a dining area—ideal for everyday living or casual entertaining. All major appliances convey, including a convenient stackable washer and dryer, making this home truly move-in ready. Step outside to enjoy peaceful views of a wooded backdrop and a nearby stream, creating a serene setting right from your doorstep. A welcoming front deck is perfect for relaxing, while paved off-street parking and a handy storage shed add to the home’s practicality. Located just moments from shopping, restaurants, banks, and pharmacies, with easy access to I-95 North or South and the Portsmouth Naval Shipyard, this property offers an exceptional blend of tranquility and accessibility. Whether you’re looking for a low-maintenance primary residence or a simplified lifestyle near the Seacoast, this home is ready to welcome you.

Key facts

• Wooded backdrop
• Spacious kitchen
• Peaceful views

Tags

• MAINTENANCE FREE EXTERIOR
• BRIGHT OPEN LIVING SPACE
• SPACIOUS KITCHEN
• PEACEFUL VIEWS
• WOODED BACKDROP
• PAVED OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $172k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $172k).
• Recommended offer: $162k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 1.9% in Portsmouth — 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.

Location & tenants

• Location reads 86/100 on livability (#5 in NH, #354 nationally) — a professional / high-income tenant draw. Strengths: schools A+, commute A+, employment A+; Watch: cost of living F.
• Portsmouth School District (suburban): math 60% / reading 72% proficiency, ranked #13 of 98 in NH (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.4%/yr); 157 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,276 units permitted in Rockingham County in 2024 (593 in 5+ unit buildings).
• This rent runs 31% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $48k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; list at $172k implies a 72% gain — meaningful room to come down on a strong offer.

Recommended offer $161,586 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.05%
• DSCR: 1.67
• GRM: 5.1

CMA / ARV

• ARV (median comp): $157,000
• List price: $171,900
• Delta: 9.49%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 Oriental Gdns	0.12mi	2/1.0	640 (-5%)	15mo	$108,000	$169	74
106 Oriental Gdns	0.05mi	2/1.0	732 (+9%)	17mo	$140,000	$191	69
210 Oriental Gardens Rd	0.10mi	2/1.0	600 (-11%)	23mo	$160,000	$267	58
1338 Woodbury Ave #13	0.62mi	1/1.0 (-1)	630 (-6%)	1mo	$157,000	$249	55
1338 Woodbury Ave #18	0.62mi	1/1.0 (-1)	602 (-10%)	12mo	$159,900	$266	38
1338 Woodbury Ave #12	0.60mi	2/1.0	576 (-14%)	24mo	$155,000	$269	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.41% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.31×
• Total profit: $14,913
• Equity at exit: $25,631

10-year hold

• IRR: 18.6%
• Equity multiple: 2.68×
• Total profit: $80,715
• Equity at exit: $14,863

Cash invested: $48,132 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 56 Moderately Landlord-Leaning
• State New Hampshire: 56 Moderately Landlord-Leaning · D+1
• County: — inherits STATE
• City: — inherits STATE

Has just-cause statute; 30-day notice; landlord-leaning vs. neighbors.

Methodology + full state rankings →

ZIP-level market 03801

• Rents YoY: 4.4%
• Active inventory: 157
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$901
• Tax from tax record: −$175 /mo · $2,102/yr
• Insurance: −$72
• HOA: −$460
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $604

Break-even live

Break-even rent $2,036

Max offer price $171,900

Occupancy floor 73%

Sensitivity live

Price	-10% $701	-5% $652	+0% $604	+5% $555	+10% $506
Rent	-10% $382	-5% $493	+0% $604	+5% $714	+10% $825
Rate	-1.0pp $690	-0.5pp $647	base $604	+0.5pp $559	+1.0pp $514

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,975
• Closing costs: $5,157
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 Porpoise Way Portsmouth, NH	2.0	1.0	684	$3,700	$5.41	0d	1	0.93mi
126 Concord Way Portsmouth, NH	2.0	1.0	684	$2,600	$3.80	44d	1	0.96mi
23 Concord Way Portsmouth, NH	2.0	1.0	684	$2,300	$3.36	10d	1	1.07mi

HOA detail

• Monthly dues: $460 · $5,520/yr

Listing history 19 events

1. 2026-06-18
   days on market $171,900 Active 74 DOM
2. 2026-06-17
   days on market $171,900 Active 73 DOM
3. 2026-06-16
   days on market $171,900 Active 72 DOM
4. 2026-06-15
   days on market $171,900 Active 71 DOM
5. 2026-06-13
   days on market $171,900 Active 69 DOM
6. 2026-06-09
   days on market $171,900 Active 65 DOM
7. 2026-06-08
   days on market $171,900 Active 64 DOM
8. 2026-06-07
   days on market $171,900 Active 63 DOM
9. 2026-06-04
   days on market $171,900 Active 60 DOM
10. 2026-06-03
    days on market $171,900 Active 59 DOM
11. 2026-06-02
    days on market $171,900 Active 58 DOM
12. 2026-06-01
    days on market $171,900 Active 57 DOM
13. 2026-05-31
    days on market $171,900 Active 56 DOM
14. 2026-05-20
    price $171,900 1243-char remark

    Show marketing remark (1243 chars)

    Discover easy, coastal-inspired living in this well-maintained single-story home, perfectly positioned in a quiet neighborhood just minutes from vibrant downtown Portsmouth. Offering a maintenance-free exterior and thoughtful layout, this home blends comfort with convenience. Inside, you’ll find a bright, inviting open living space that flows seamlessly into a spacious kitchen with ample cabinetry and a dining area—ideal for everyday living or casual entertaining. All major appliances convey, including a convenient stackable washer and dryer, making this home truly move-in ready. Step outside to enjoy peaceful views of a wooded backdrop and a nearby stream, creating a serene setting right from your doorstep. A welcoming front deck is perfect for relaxing, while paved off-street parking and a handy storage shed add to the home’s practicality. Located just moments from shopping, restaurants, banks, and pharmacies, with easy access to I-95 North or South and the Portsmouth Naval Shipyard, this property offers an exceptional blend of tranquility and accessibility. Whether you’re looking for a low-maintenance primary residence or a simplified lifestyle near the Seacoast, this home is ready to welcome you.

15. 2026-04-05
    listed $179,000 Active 1243-char remark

    Show marketing remark (1243 chars)

    Discover easy, coastal-inspired living in this well-maintained single-story home, perfectly positioned in a quiet neighborhood just minutes from vibrant downtown Portsmouth. Offering a maintenance-free exterior and thoughtful layout, this home blends comfort with convenience. Inside, you’ll find a bright, inviting open living space that flows seamlessly into a spacious kitchen with ample cabinetry and a dining area—ideal for everyday living or casual entertaining. All major appliances convey, including a convenient stackable washer and dryer, making this home truly move-in ready. Step outside to enjoy peaceful views of a wooded backdrop and a nearby stream, creating a serene setting right from your doorstep. A welcoming front deck is perfect for relaxing, while paved off-street parking and a handy storage shed add to the home’s practicality. Located just moments from shopping, restaurants, banks, and pharmacies, with easy access to I-95 North or South and the Portsmouth Naval Shipyard, this property offers an exceptional blend of tranquility and accessibility. Whether you’re looking for a low-maintenance primary residence or a simplified lifestyle near the Seacoast, this home is ready to welcome you.

16. 2019-03-30
    soldstatus $100,000 Closed 367-char remark

    Show marketing remark (367 chars)

    Brand new home for sale on corner lot in Oriental Gardens! Home features 2 bedrooms, 1 bathroom, open concept kitchen/living area, pressure treated deck off main entrance, and a 6'x8' shed. Enjoy single story maintenance free living in an energy efficient new home. Picture is a reasonable facsimile. Agent interest. Sorry, no dogs allowed. More pictures to be added.

17. 2019-02-19
    status Pending 367-char remark

    Show marketing remark (367 chars)

    Brand new home for sale on corner lot in Oriental Gardens! Home features 2 bedrooms, 1 bathroom, open concept kitchen/living area, pressure treated deck off main entrance, and a 6'x8' shed. Enjoy single story maintenance free living in an energy efficient new home. Picture is a reasonable facsimile. Agent interest. Sorry, no dogs allowed. More pictures to be added.

18. 2018-12-07
    price $105,000 367-char remark

    Show marketing remark (367 chars)

    Brand new home for sale on corner lot in Oriental Gardens! Home features 2 bedrooms, 1 bathroom, open concept kitchen/living area, pressure treated deck off main entrance, and a 6'x8' shed. Enjoy single story maintenance free living in an energy efficient new home. Picture is a reasonable facsimile. Agent interest. Sorry, no dogs allowed. More pictures to be added.

19. 2018-10-21
    listed $109,000 Active 367-char remark

    Show marketing remark (367 chars)

    Brand new home for sale on corner lot in Oriental Gardens! Home features 2 bedrooms, 1 bathroom, open concept kitchen/living area, pressure treated deck off main entrance, and a 6'x8' shed. Enjoy single story maintenance free living in an energy efficient new home. Picture is a reasonable facsimile. Agent interest. Sorry, no dogs allowed. More pictures to be added.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NH · Partial reset (capped growth)

• Current annual tax: $2,102 · $175/mo
• Projected year-2 tax: $2,925 · $244/mo
• Expected delta: +$823/yr (+$69/mo · 39.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,597
• − Mortgage interest: −$9,629
• − Property taxes: −$2,102
• − Insurance: −$860
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − HOA: −$5,520
• − Depreciation: −$5,001
• Taxable income: $5,110
• Est. tax owed @ 24.0%: −$1,226
• After-tax cash flow: $6,016/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This single-story manufactured home requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include exterior siding, interior walls, and flooring. Upgrades in these areas would significantly enhance its resale and rental potential.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Moderate interior walls — Worn wallpaper
• Moderate flooring — Worn carpet

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace carpet — Improves comfort and reduces maintenance
• Both Landscaping and curb appeal — Enhances curb appeal and creates a more inviting exterior

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
interior walls · Worn wallpaper	Moderate	$3,000–15,000
flooring · Worn carpet	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet — Improves comfort and reduces maintenance ↑
• Both Landscaping and curb appeal — Enhances curb appeal and creates a more inviting exterior ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Portsmouth School District
• NCES district ID: 3305820
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 72% ▼ -3.00%
• Median HH income: $67,302
• Composite: 57.66/100
• National rank: #1060
• State rank: #13 of 98 in NH

Livability — Portsmouth

• Score: 86/100
• State rank: #5
• US rank: #354

Category grades

Amenities B+ Commute A+ Cost of living F Crime B+ Employment A+ Housing B+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portsmouth, NH
• County: Rockingham County · 137,526 people
• City population: 23,484
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 23,484
• Household income: $106,756
• Rent vs Own: 47.0% rent · 53.0% own
• Severe rent burden: 843.0

Population outlook (Rockingham County) Hauer SSP2

• Today (2025): 316,118 people
• By 2030: 320,929 · +1.5%
• By 2040: 323,358 · +2.3%
• By 2050: 314,977 · -0.4%
• By 2075: 297,686 · -5.8%
• By 2100: 256,363 · -18.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Asian 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 5% Slovak 5% Romanian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 91% English-only · Other Indo-European 3% Spanish 2% Chinese 1%

Political lean MEDSL · Rockingham

• 2024 margin: Toss-up / Even · D 48.3% · R 50.8%
• 2008→2024 swing: -3.5pp toward R · 2008: 1.1pp · 2024: -2.4pp
• All cycles: 2024: R+2.4 2020: D+2.1 2016: R+5.8 2012: R+4.5 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -281.76%
• Current HPI: 383.8843
• Rent YoY: ▲ 4.41%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: —
• F500 in state: 0

Price history

+57.7% since first listed

6 events — show timeline

• 2026-05-20 Price Changed $171,900 PrimeMLS
• 2026-04-05 Listed $179,000 PrimeMLS
• 2019-03-30 Sold (MLS) $100,000 PrimeMLS
• 2019-02-19 Pending — PrimeMLS
• 2018-12-07 Price Changed $105,000 PrimeMLS
• 2018-10-21 Listed $109,000 PrimeMLS

Property tax history

+7.8%/yr

Latest (2025): $2,102 · +3.0% YoY. Source: county tax records.